**India**: Global SaaS startup Zinit is investing $2m to expand its AI-powered procurement platform in India, targeting the $500bn market and modernising tail spend with automation and real-time solutions, aiming to boost efficiency, supplier diversity, and digitisation across sectors.
A global Software as a Service (SaaS) startup, Zinit, has announced a strategic investment of $2 million aimed at bolstering its operations in India, a market identified as crucial for the company’s growth strategy. The announcement comes as Zinit seeks to penetrate India’s $500 billion procurement landscape, introducing an artificial intelligence (AI)-powered platform designed to modernise outdated procurement processes.
India’s B2B e-commerce market is projected to reach a substantial $200 billion by 2030, yet many companies still depend on manual and antiquated procurement practices. Zinit aims to disrupt this trend by focusing particularly on “tail spend,” which comprises approximately 30% of procurement value despite accounting for a staggering 80% of transactions. By targeting this neglected segment, Zinit plans to enhance efficiency within procurement departments.
The platform combines AI-driven automation with a dedicated customer success team to offer real-time solutions. Key features include one-click cross-border tendering, which allows for smart supplier matching and real-time translation services, effectively reducing tendering times by up to 80%. Zinit operates on a success-based pricing model, meaning businesses are billed only upon achieving tangible results. The company is also committed to promoting supplier diversity, boasting that 50% of new suppliers awarded contracts are newcomers to the platform, thereby fostering a more inclusive and transparent procurement environment.
“India is a key market for Zinit’s global expansion. The country’s procurement sector is ripe for innovation, and we’re excited to bring our AI-powered solutions to help businesses drive efficiency, save costs, and foster supplier diversity,” stated Anton Buzdalin, Co-Founder of Zinit, in comments made to Startup Talky. He emphasised that the investment will enhance local operations, create job opportunities, and strengthen partnerships with Indian businesses looking to upgrade their procurement strategies.
Zinit’s entry into the Indian market is not without significant backing. The company is supported by a robust global framework, initially established through Bidzaar, another procurement platform that operated in Eastern Europe and successfully scaled to over $15 billion in gross merchandise value (GMV), onboarding more than 150,000 suppliers. This foundational experience provides Zinit with critical insights that can be applied to navigate the complexities of rapidly growing markets like India.
In its initial six months, Zinit has already made notable inroads, with companies such as Uflex, Vinati Organics, and Compass Group employing its tender platform. A total of over 40 businesses, including L&T Financial Services and Verkko Group, have successfully placed tenders through Zinit. The platform has facilitated more than 300 tenders across various sectors, including manufacturing, logistics, pharmaceuticals, and retail.
Looking forward, Zinit intends to maintain its growth trajectory by investing further in talent acquisition, enhancing customer success initiatives, and innovating its product offerings throughout 2025. As the procurement landscape evolves, Zinit’s efforts may play a significant role in shaping the future of procurement in India and beyond.
Source: Noah Wire Services
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