Zinit, the Dubai-based AI-native procurement and sourcing platform, has raised USD 8 million (~INR 71.42 crore) in a seed funding round led by global venture capital firm AltaIR Capital. The round, which values the company at USD 48 million(~INR 428.5 crore), also saw participation from early-stage investor DVC — known for backing artificial intelligence ventures such as Perplexity. DVC is expected to play an active advisory role in shaping Zinit’s AI development roadmap.
Strategic Focus: Global Expansion and Product Innovation
According to company statements, the newly raised capital will primarily be directed towards accelerating product development, strengthening AI capabilities, and scaling operations across high-growth international markets. Zinit has identified India, the United States, and Latin America as core regions for expansion.
As part of this worldwide scaling strategy, the company has made a series of senior leadership appointments. Michel Boczko has been named Regional Director for Latin America, and former McKinsey executive Stan Moskovtsev has taken over as Chief Executive Officer for the United States. In India, industry veteran Naveenn Suri has been appointed Regional Director to drive enterprise adoption and lead the company’s growth initiatives in the domestic market.
India: A Key Growth Engine
India has emerged as one of Zinit’s fastest-growing markets amid a significant enterprise shift towards digital procurement and automation. Suri, who previously served as Partner at EY, leading the firm’s SAP Ariba practice, brings over 25 years of experience in supply-chain transformation and enterprise technology.
Speaking on Zinit’s India strategy, Suri remarked, “Indian enterprises are moving rapidly from basic digitisation to intelligent automation. CFOs and CPOs are now focused on immediate ROI and governance rather than long implementation cycles. Zinit’s ability to automate supplier discovery and negotiation while guaranteeing cost savings resonates perfectly with the Indian market’s demand for efficiency and accountability.”
Zinit’s Co-Founder and CEO Anton Buzdalin reinforced this commitment, noting, “This new funding allows us to accelerate our AI roadmap and deepen our presence in our fastest-growing markets. India remains central to our strategy, and we’re ensuring the right leadership is in place to support enterprises as they modernize their procurement functions.”
Zinit Platform Capabilities
Founded by Andrey Chernogorov and Anton Buzdalin, Zinit delivers a comprehensive “procurement-as-a-service” model designed to eliminate inefficiencies and manual bottlenecks in sourcing workflows. Its AI-powered platform automates supplier discovery, request-for-proposal (RFP) creation, and multi-round negotiations—helping organizations cut sourcing cycles by up to 40% and reduce costs by up to 30%.
Zinit currently serves more than 100 enterprise clients, including Bacardi India, UFLEX, and United Colors of Benetton, and maintains a supplier network of over 1,00,000 vendors worldwide. The company operates on a hybrid model combining SaaS licensing with outcome-linked success fees, supported by audit-ready RFP trails, standardized evaluation frameworks, and compliance-driven documentation.
Investors’ Perspective
AltaIR Capital, which manages approximately USD 600 million (~INR 5,356 crore) in assets across technology sectors such as SaaS, FinTech, and digital health, led the round. Commenting on the investment, Igor Ryabenkiy, Founder and Managing Partner of AltaIR Capital, stated, “Zinit is addressing a global challenge in enterprise procurement with AI-led efficiency. The company’s strong traction in fast-growing markets like India and its ability to pair advanced technology with local execution make it uniquely positioned to lead globally in B2B procurement transformation.”
Broader Vision: AI-Led Disruption in Procurement
Zinit’s mission extends beyond automation; the company aims to redefine procurement as an intelligent, transparent, and data-driven function. Its technology suite integrates real-time bidding, AI-assisted negotiation engines, and autonomous sourcing capabilities, particularly focused on the often-neglected “tail spend” segment—categories that traditionally suffer from inefficiency and lack of visibility.
The firm’s co-founders, who previously built Bidzaar—a platform that processed USD 15 billion (~INR 1.34 lakh crore) in gross merchandise value—are applying their expertise to emerging markets where procurement remains largely manual. With operations spanning five countries and teams across India, Latin America, Southeast Asia, and the Middle East, Zinit represents a new breed of enterprise software firms combining AI innovation with local market adaptability.
Outlook
With fresh capital and an expanding international leadership team, Zinit is set to accelerate its product innovation and deepen its market penetration across emerging economies. The company also hinted at plans to pursue a Series A round in the near future to further scale its AI capabilities and extend its footprint across new geographies.
As enterprises worldwide move toward intelligent automation in procurement, Zinit’s blend of technology, compliance rigor, and cost efficiency positions it at the forefront of AI-led transformation in the B2B sourcing landscape.
For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.