Zinit Raises $8 Million to Scale Its AI-Led Procurement Platform
- Zinit secures $8 Million seed round at a $48 Million valuation to expand its AI procurement platform.
- Funds will support global growth and new leadership hires across the US, LATAM, and India.
- The platform helps enterprises cut sourcing time by 40% and reduce costs by up to 30%.
AI-driven procurement startup Zinit has raised $8 million in a seed round led by AltaIR Capital, pushing its valuation to $48 million. Early-stage investor DVC, known for backing Perplexity, also joined the round and will help strengthen Zinit’s AI strategy.
The new capital will be used to accelerate product development and expand the company’s global footprint. As part of its international push, Zinit has made several key leadership appointments. Michel Boczko has been named Regional Director for Latin America, while former McKinsey consultant Stan Moskovtsev will lead the US operations as CEO.
In India, Zinit has appointed industry veteran Naveenn Suri as Regional Director to boost enterprise adoption. Suri previously led EY’s SAP Ariba practice and brings more than 20 years of experience in procurement and supply chain transformation.
Zinit is betting big on India, calling it one of its fastest-growing markets as more enterprises shift to digital procurement. The platform claims to automate supplier discovery, RFP creation, and multi-stage negotiations helping companies shorten sourcing cycles by up to 40% and cut costs by as much as 30%.
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The company said it already serves more than 100 enterprise clients, including Bacardi India, UFLEX Limited, and United Colors of Benetton. It has also built a supplier network of over 100,000 vendors.
Zinit operates through a hybrid success-fee and SaaS pricing model and offers audit-ready compliance features for enterprises seeking transparency and efficiency.
