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 fund DVC, known for backing Perplexity, also participated and will support the company’s AI roadmap as it accelerates product scale and global presence.
Strategic Hires to Drive Global Expansion
As part of its expansion, Zinit has strengthened leadership across key regions. Michel Boczko has been appointed Regional Director for Latin America, while former McKinsey executive Stan Moskovtsev will lead operations in the US as CEO. For India, Zinit has onboarded Naveenn Suri as Regional Director. Suri previously led EY’s SAP Ariba practice and brings more than two decades of experience in procurement and supply-chain transformation.
AI-Powered Procurement Gains Traction in India
Zinit has identified India as one of its fastest-growing markets, driven by rising enterprise demand for digital procurement intelligence. The platform automates supplier discovery, RFP creation, and multi-round negotiations, reducing sourcing cycles by up to 40% and procurement costs by up to 30%, according to the company.
With procurement workflows evolving from manual interactions to AI-led decision systems, Zinit aims to position itself as a central operating layer for enterprises modernising their sourcing infrastructure.
Strong Enterprise Adoption and Supplier Network
The company said it already works with 100+ enterprise clients, including Bacardi India, UFLEX Limited, and United Colors of Benetton. Zinit has also built a supplier network of more than 100,000 vendors, helping enterprises benchmark pricing, accelerate sourcing decisions, and maintain audit-ready trails for compliance.
Zinit operates on a success-fee and SaaS pricing model, giving organisations flexibility as they adopt AI-led procurement tools.
Final Take
As global enterprises shift toward intelligent, data-driven sourcing, Zinit’s seed funding and leadership hires position it strongly to compete in a sector undergoing rapid modernisation.
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