Discover 2 articles related to Procurement
Global SaaS startup Zinit has entered the Indian market with a $2 million investment aimed at revolutionizing procurement through its AI-powered platform. By targeting the overlooked 'tail spend' segment — which accounts for 80% of procurement transactions — Zinit aims to cut tendering time by up to 80% and drive cost efficiency for businesses across sectors like manufacturing, logistics, and retail.
Centriti, a B2B e-procurement platform, has secured Rs 6 crore in funding led by Emergent India Ventures, with participation from Atrium Angels, Alluvium Capital, Venture Garage, CoralBay Ventures, HOF, and Brigade Group. The funds will enhance tech capabilities, reduce service time, and expand into new geographies. Founded in 2022 by Daljeet Singh, Centriti uses mid-mile logistics, warehousing, and AI-driven inventory management to optimize costs and efficiency for hotels and restaurants. The Delhi-based startup collaborates with major brands like Taj Hotels, Oberoi Hotels, Accor Group, Barbeque Nation, and Chai Point. Currently operating in Delhi, Bengaluru, and Jaipur, Centriti plans to expand to Goa, Hyderabad, Kochi, and Chennai within two years. With a current monthly run rate of Rs 2 crore, the company aims to reach Rs 6 crore by December 2024, scaling up 10x in two years.