Procurement and cost-reduction platform 1Buy.ai has raised Rs 32.5 crore in its seed funding round, led by early-stage investor 100Unicorns. The round also saw participation from Ashish Kacholia, Nikhil Kamath-backed Gruhas, US-based FJ Labs, and a group of other investors, including some existing customers of the company.
The startup was initially set up by Visham Sikand, who previously founded data analytics firm Goals101 and exited it through a $30 million acquisition by M2P Fintech in 2023. Nitin Jain later joined as cofounder after exiting OfBusiness in November last year. The founding team also includes Pradeep Paliwal, a former executive at EbixCash and RateGain, who serves as the chief technology officer.
Commenting on the fundraise, Jain said, “We will use the fresh capital to expand our product stack and invest in team building. We are currently a 25-member outfit and plan to significantly scale our sourcing engines to support clients.”
According to the company, the newly raised capital will be used to accelerate the development of compliant and scalable software-as-a-service platforms and expand its global data infrastructure to support international growth.
Founded in 2023 by the Midas Touch founders Nitin Jain, Visham Sikand, and Pradeep Paliwal, the Delhi-based startup focuses on the electronics sector. Its AI-powered platform helps enterprises reduce procurement costs, manage supply-chain risks, improve sourcing decisions, and liquidate excess and obsolete inventory through a unified system.
1Buy.ai brings together data intelligence, sourcing execution, and liquidation workflows into a single decision-grade platform aimed at addressing long-standing gaps in procurement planning and execution within the global electronics ecosystem. The company claims its solution enables electronics manufacturers to achieve a 5–10 percent reduction in sourcing costs across active bills of materials, often within the first few months of deployment.
The platform operates across three integrated verticals: 1Data, which provides AI-led cost intelligence; 1Source, an end-to-end sourcing engine; and 1Xcess, a structured marketplace for inventory liquidation. The startup said it is currently working with large enterprises in India and overseas, delivering measurable outcomes, particularly in cost reduction and execution of identified savings.
