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By EquityPandit

STARTUPS

Zinit Forays into India with a $2 Million Investment 

The money will boost local employment, strengthen relationships, and further the company's aim.

Zinit, a worldwide software-as-a-service (SaaS) business focused on AI-powered procurement solutions, has announced a $2 million investment to expand its operations in India, one of the world’s fastest-growing B2B markets.

According to the business, the money will boost local employment, strengthen relationships, and further the company’s aim of intelligently automating India’s legacy procurement infrastructure.

The business stated that it plans to capitalize on India’s $500 billion procurement industry by launching its AI-powered B2B procurement platform, which would provide better, scalable solutions to improve the country’s outdated, archaic procurement procedures. 

Despite forecasts that India’s B2B e-commerce sector could reach $200 billion by 2030, a large chunk of the country’s procurement operations continue to use outmoded, manual technologies.  Zinit intends to disrupt this area by focusing on tail expenditure, the underutilized element of procurement that accounts for 30% of procurement value but 80% of transactions.

Zinit’s platform blends AI-powered automation with a dedicated customer success team to provide real-time value.  It provides 1-click cross-border tendering with smart supplier matching and real-time translation, cuts tendering time by up to 80%, and operates on a success-based pricing model, allowing firms to pay only for results.

The platform also promotes supplier variety, with 50% of new suppliers winning bids, so making procurement more inclusive and transparent.

“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,” said Anton Buzdalin, Co-Founder of Zinit.

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