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AI driven procurement platform Zinit has secured USD 8 million in a seed funding round led by AltaIR Capital, placing the company's valuation at USD 48 million. Early stage investor DVC, known for backing Perplexity, also participated in the round and will support the company's artificial intelligence roadmap.
The funds will be directed towards product development and expansion across international markets. As part of its global push, Zinit has strengthened its leadership team with new appointments. Michel Boczko has taken charge as Regional Director for Latin America, while Stan Moskovtsev, who previously worked with McKinsey, has been named Chief Executive Officer for the United States.
In India, the company has appointed Naveenn Suri as Regional Director to increase enterprise adoption in the domestic market. Suri brings more than 20 years of experience in procurement and supply chain transformation and earlier led the SAP Ariba practice at EY.
Zinit operates as an AI native sourcing platform that aims to simplify procurement through a procurement as a service model. Its technology helps companies launch sourcing events quickly without complex setup, using artificial intelligence to prepare detailed requests for proposals and connect with new suppliers. The platform combines automation with local execution support and claims that procurement teams can shorten sourcing cycles by up to 40 percent while also reducing costs.
The company currently operates in five countries and works with more than 100 enterprise clients. Its customer list includes Bacardi India Private Limited, UFLEX Limited and United Colors of Benetton. Zinit has built a supplier network of more than 100,000 partners and follows a success fee and SaaS based pricing structure with audit ready compliance trails.
This article was originally published by the Entrepreneurindia.com. To read the full version, visit here 
