Procurement-Tech Firm 1Buy.ai Raises Rs 32 Crore in Funding Led by 100 Unicorns

Procurement tech startup 1Buy.ai raises Rs 32.5 crore in maiden institutional funding round

Procurement technology startup 1Buy.ai has raised Rs 32.5 crore in its first institutional funding round, led by early-stage venture capital firm 100 Unicorns, as it looks to strengthen its AI-driven sourcing platform for electronics manufacturers.

The round also saw participation from Nikhil Kamath’s Gruhas and noted equity market investor Ashish Kacholia.

Founded by Visham Sikand, best known for building data analytics firm Goals101, and Nitin Jain, cofounder of OfBusiness, the startup is developing a technology stack aimed at helping electronics manufacturers streamline procurement processes, optimise costs and better manage vendor ecosystems.

Founders with proven track records

Sikand had previously sold Goals101 to infrastructure fintech firm M2P Fintech for around $30 million in 2023. While he initially set up 1Buy.ai, Jain joined as a cofounder after exiting OfBusiness last November.

The founding team also includes Pradeep Paliwal, a former executive at EbixCash and RateGain, who serves as the company’s chief technology officer.

Expansion plans

The fresh capital will be deployed toward expanding the company’s product capabilities and scaling its workforce.

“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,” Jain told The Economic Times.

AI-powered procurement stack

According to Jain, 1Buy.ai currently operates three platforms designed to help original equipment manufacturers (OEMs):

• Reduce procurement costs

• Track global supply chain risks such as tariffs and environmental disruptions

• Monitor lifecycle risks of electronic components

The startup integrates its AI tools with clients’ existing enterprise resource planning (ERP) systems to drive efficiency gains.

“We are layering our platform on top of our clients’ existing ERP systems to drive incremental efficiency using AI,” Jain said.

Growing market opportunity

1Buy.ai currently serves around 15 clients in India across the automobile and consumer electronics sectors, and is in discussions with potential customers in the US and Israel.

The company’s clients collectively source components worth nearly Rs 4,500 crore annually, offering significant scale opportunities.

Jain said the broader Indian electronics manufacturing sector, valued at approximately $150 billion, is expanding rapidly, creating strong tailwinds for procurement-focused technology solutions.

With supply chain complexities increasing and manufacturers seeking smarter sourcing strategies, startups like 1Buy.ai are positioning themselves at the intersection of AI and industrial operations.