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Zinit raises $8 Mn in seed round led by AltaIR Capital

EntrackrEntrackr · 2m ago
Zinit raises $8 Mn in seed round led by AltaIR Capital
Medial

Zinit raises $8 Mn in seed round led by AltaIR Capital AI-driven procurement platform Zinit has raised $8 million in a seed round led by AltaIR Capital, valuing the company at $48 million. Early-stage investor DVC, known for backing Perplexity, also participated and will support Zinit’s AI roadmap. The proceeds will be used for product development and global expansion. As part of its worldwide push, Zinit has appointed Michel Boczko as Regional Director for Latin America and Stan Moskovtsev (ex-McKinsey) as CEO for the US. The firm has also appointed Naveenn Suri as Regional Director for India to drive enterprise adoption in the local market. Suri earlier led EY’s SAP Ariba practice and has over two decades of experience in procurement and supply-chain transformation. Zinit is targeting India as one of its fastest-growing markets as enterprises move to digital procurement. The platform claims to automate supplier discovery, RFP creation and multi-round negotiations for enterprises. It says procurement teams using Zinit can cut sourcing cycles by up to 40% and reduce costs by up to 30%. The brand said it already works with more than 100 enterprise clients, including Bacardi India, UFLEX Limited and United Colors of Benetton, and has built a network of over 100,000 suppliers. Zinit operates through a success-fee and SaaS-based pricing model and provides audit-ready trails for compliance.

1Buy.AI raises Rs 32.5 Cr in seed round led by 100Unicorns

EntrackrEntrackr · 2d ago
1Buy.AI raises Rs 32.5 Cr in seed round led by 100Unicorns
Medial

1Buy.AI raises Rs 32.5 Cr in seed round led by 100Unicorns Procurement and cost-reduction platform 1Buy.AI has raised Rs 32.5 crore in a seed funding round led by 100Unicorns along with participation from Ashish Kacholia, Gruhas, FJ Labs (USA), and other investors, including existing customers. The fresh funds will be deployed to accelerate the development of compliant, scalable SaaS platforms and expand global data pipes, 1Buy said in a press release. Co-founded in 2023 by Midas Touch founders Nitin Jain, Visham Sikand, and Pradeep Paliwal, 1Buy.AI is an AI-powered platform designed to help electronics companies reduce procurement costs, manage supply-chain risk, source intelligently, and liquidate excess inventory. The platform brings together data intelligence, sourcing execution, and liquidation workflows into a single, decision-grade system. The Delhi-based startup addresses under-served gaps in the global electronics ecosystem such as the lack of a unified, data-driven system for procurement decision-making and execution. It has launched a cutting-edge, AI-led platform that enables electronics manufacturing companies to achieve a 5–10 percent reduction in sourcing costs across active BOMs, often within the first few months of deployment. The platform operates across three integrated verticals including 1Data, an AI-powered cost reduction and intelligence layer, 1Source, an end-to-end sourcing platform, and 1Xcess, a structured marketplace for liquidation of excess and obsolete inventory. It claims that the solution has already gained strong traction, with several of the country’s largest electronics players onboarded as customers. According to 1Buy.AI, it is already working with large enterprises in India and international markets, delivering measurable outcomes, particularly in cost reduction and the execution of those savings. The platform enables procurement teams to move from reactive buying to proactive, controlled decision-making by integrating AI-driven market intelligence with supplier access and operational execution.

General Motors, Magna, and Wipro to launch SDVerse to transform automotive software market

IndianStartupNewsIndianStartupNews · 1y ago
General Motors, Magna, and Wipro to launch SDVerse to transform automotive software market
Medial

General Motors (GM), Magna, and Wipro have formed a partnership to create SDVerse, a B2B sales platform aiming to transform the automotive software sourcing and procurement process. SDVerse will function as a matchmaking platform, connecting buyers and sellers of embedded automotive software and improving transparency and efficiency in the industry. The initiative will leverage emerging technologies, such as AI, to meet the growing demand for automotive software and ensure the move towards software-defined vehicles does not compromise profitability or innovation. The platform promises reduced costs, time, and complexity in software development and procurement, as well as improved resource allocation and the ability to source software separately from hardware.

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