AI-powered procurement tech startup 1Buy.AI has secured INR 32.5 Cr ($3.5 Mn) in a seed funding round led by 100 Unicorns, with participation from Gruhas, US-based FJ Labs, ace investor Ashish Kacholia, and other marquee investors, including existing customers. “This capital allows us to accelerate the development of our compliant, scalable SaaS platform and expand our global data pipes, transforming how enterprises manage cost, risk, and resilience in their supply chains,” 1Buy.AI cofounder Pradeep Paliwal said. Founded in 2023 by Paliwal, Visham Sikand and Nitin Jain, and later joined by Jaspreet Bhatia, 1Buy.AI operates in the electronics components supply chain. It provides services such as procurement of new electronics components, bill of materials optimisation, and excess inventory liquidation via its AI-powered platform. Enterprises can connect their ERP with 1Buy.AI’s platform or upload their bill of materials, following which AI analyses pricing gaps, provides alternatives and highlights saving opportunities automatically. Following this, customers can renegotiate with their suppliers or choose new suppliers via 1Buy.AI. The platform has three key segments: 1Data: It is an AI-powered cost reduction and intelligence layer 1Source: It is as an end-to-end sourcing platform 1Xcess: It is a structured marketplace where enterprises can liquidate excess and obsolete… Read MoreInc42 Media
