Zinit, an international SaaS startup transforming procurement with AI-based solutions, has made a $2 million investment to strengthen its presence in India. This decision is meant to capitalize on India’s $500 billion procurement sector by introducing its AI-driven B2B procurement platform, which will offer intelligent and scalable solutions that solve India’s inefficient legacy procurement systems.
While India’s B2B e-commerce market is expected to hit $200 billion by 2030, much of the procurement process remains based on outdated manual systems. Zinit aims to shake up the status quo by focusing on tail spend—the frequently neglected portion of procurement that represents 30% of procurement value but 80% of transactions.
The Zinit platform unifies AI-powered automation with a specialist customer success team to deliver value instantly. It allows for one-click cross-border tendering with smart supplier matching and instant translation, slashing tendering time by up to 80%. It also functions on a pay-for-results pricing model, meaning businesses only pay when results are delivered. The platform also drives supplier diversity, with 50% of new suppliers winning tenders successfully, thus making procurement more transparent and inclusive.
“India is an important market for Zinit’s international expansion. India’s procurement industry is ready for innovation, and we are keen to bring our AI-based solutions to assist businesses in improving efficiency, lowering costs, and enhancing supplier diversity,” said Anton Buzdalin, Co-Founder of Zinit. “This $2 million investment will fortify our local presence, generate employment, and enhance collaboration with Indian businesses looking to streamline their procurement practices,” he added.
Zinit’s Indian market entry is backed by a strong global platform. The Zinit team also created Bidzaar, an Eastern European procurement site that attained gross merchandise value of over $15 billion and brought on over 150,000 suppliers. This experience forms the basis of Zinit’s approach—leveraging tried-and-tested innovations for serving the needs of highly dynamic and structurally complex markets such as India.
Organizations like Uflex, Vinati Organics, and Compass Group already use Zinit as their tender platform. Within six months of operation in India, more than 40 companies, including L&T Financial Services and Verkko Group, have put out tenders on Zinit. The platform has successfully processed over 300 tenders from diverse industries like manufacturing, logistics, pharma, and retail. In the future, Zinit intends to continue its pace by continuing to invest in talent acquisition, customer success, and product innovation in 2025.