Zinit raises $8 Mn in seed round led by AltaIR Capital

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 investor DVC, known for backing Perplexity, also participated and will support Zinit’s AI roadmap.

The proceeds will be used for product development and global expansion. As part of its worldwide push, Zinit has appointed Michel Boczko as Regional Director for Latin America and Stan Moskovtsev (ex-McKinsey) as CEO for the US.

The firm has also appointed Naveenn Suri as Regional Director for India to drive enterprise adoption in the local market. Suri earlier led EY’s SAP Ariba practice and has over two decades of experience in procurement and supply-chain transformation.

Zinit is targeting India as one of its fastest-growing markets as enterprises move to digital procurement. The platform claims to automate supplier discovery, RFP creation and multi-round negotiations for enterprises. It says procurement teams using Zinit can cut sourcing cycles by up to 40% and reduce costs by up to 30%.

The brand said it already works with more than 100 enterprise clients, including Bacardi India, UFLEX Limited and United Colors of Benetton, and has built a network of over 100,000 suppliers. 

Zinit operates through a success-fee and SaaS-based pricing model and provides audit-ready trails for compliance.