While the funding fuels global expansion, Zinit is specifically targeting the Indian market’s massive shift toward digital procurement
Zinit, an artificial intelligence (AI)-native sourcing platform, has raised USD 8 million in a seed round led by AltaIR Capital, valuing the company at USD 48 million. The round also included participation from DVC, early backers of AI companies such as Perplexity, who will advise Zinit on its AI strategy.
While the funding fuels global expansion, Zinit is specifically targeting the Indian market’s massive shift toward digital procurement, as per the official statement. To spearhead this growth, Zinit has appointed Naveenn Suri as Regional Director for India.
Suri brings over 25 years of experience in supply-chain transformation, having previously served as a Partner at EY, where he led the firm’s SAP Ariba practice across India.
“Indian enterprises are aggressively moving beyond basic digitisation toward intelligent automation. CFOs and CPOs here are looking for immediate ROI and governance, not year-long implementation cycles. 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,” Said Naveenn Suri, Regional Director for India at Zinit.
The company stated that India’s enterprise ecosystem is currently undergoing a rapid digital transformation, yet procurement remains a bottleneck, with 53 per cent of global processes still manual. The platform is currently used by over 100 enterprise clients, including major Indian operations such as Bacardi India, UFLEX, and United Colors of Benetton amongst others.
The new funding will primarily fuel product development and international growth. As part of this global scaling strategy, Zinit is aligning its senior leadership in other geographies, including the appointments of Michel Boczko as Regional Director for Latin America and Stan Moskovtsev (ex-McKinsey) as CEO for the United States.
