Zinit raises $8M as it scales AI-driven procurement platform in India

Zinit, an AI-native sourcing platform, has raised $8 million in a seed round led by AltaIR Capital, placing the company’s valuation at $48 million.

DVC, known for backing several early-stage AI companies, including Perplexity, also participated in the round.

The funding comes as the company advances its global expansion plans, with India emerging as a key market amid growing enterprise adoption of digital procurement technologies.

To support this next phase of growth, Zinit has appointed Naveenn Suri as Regional Director for India. Suri brings more than 25 years of experience in procurement and supply chain transformation, including his previous role at EY, where he led the SAP Ariba practice across the country.

Suri noted that Indian enterprises are rapidly evolving in their procurement approach. “Indian enterprises are shifting quickly from basic digitisation to intelligent automation, with CFOs and CPOs prioritising fast ROI and strong governance over long implementation cycles,” he said.

Team Zinit

He added that, “Zinit’s ability to automate supplier discovery and negotiation, while guaranteeing cost savings, resonates perfectly with the Indian market’s focus on efficiency and bottom-line impact. I look forward to scaling our operations here and helping more Indian businesses streamline their sourcing.”

Zinit’s Co-Founder and CEO Anton Buzdalin said the investment will help the company strengthen its technology roadmap and deepen its presence in high-growth regions. “This new funding allows us to accelerate our AI roadmap and deepen our presence in our fastest-growing markets. India has been central to our growth story, and the appetite for digital transformation among Indian enterprises is immense,” he said.

He added, “By bringing Naveenn on board, we are reinforcing our long-term commitment to this region, ensuring we have the right leadership to support our clients as they modernise their procurement functions.”

Alongside strengthening its India leadership, the company has also expanded its global management team. Michel Boczko has been appointed Regional Director for Latin America, while Stan Moskovtsev, formerly with McKinsey, has taken over as CEO for the United States.

Founded in 2018, Zinit operates across five countries and works with more than 100 enterprise customers worldwide. Several Indian operations, including Bacardi India Private Limited, UFLEX Limited and United Colors of Benetton, use the platform. The company has also built a supplier network of more than 100,000 vendors in India.

Zinit’s platform automates supplier discovery, RFP creation and multi-round negotiation workflows. It is designed to help organisations shorten sourcing cycles, strengthen governance and improve visibility across procurement activities.

The company operates on a hybrid model combining SaaS licensing with outcome-linked fees, supported by audit-ready RFP trails, structured evaluation flows and AI-driven supplier engagement.