Procurement Platform 1Buy.AI Secures INR 32.5 Cr Seed Funding The round was led by early-stage investor 100Unicorns, with participation from Ashish Kacholia, Gruhas, US-based FJ Labs, and existing customers.
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Procurement and cost-reduction platform 1Buy.AI has raised INR 32.5 crore in a seed funding round led by early-stage investor 100Unicorns.
The round also saw participation from Ashish Kacholia, Gruhas, US-based FJ Labs, and a group of other investors, including some existing customers of the company.
The newly raised capital will be used to speed up the development of compliant and scalable software-as-a-service (SaaS) products, while also expanding its global data infrastructure. These investments are aimed at strengthening the platform's technology capabilities and supporting its expansion in international markets.
Founded in 2023, 1Buy.AI was co-established by Nitin Jain, Visham Sikand, and Pradeep Paliwal, who are also the founders of Midas Touch. The Delhi-based startup focuses on the electronics sector, offering an AI-powered procurement platform that helps companies reduce sourcing costs, manage supply-chain risks, and handle excess inventory more efficiently.
The platform combines data intelligence, sourcing execution, and inventory liquidation into a single system intended to support procurement decision-making. According to the startup, it addresses long-standing gaps in the global electronics ecosystem, particularly the absence of a unified, data-driven approach to procurement planning and execution.
1Buy.AI operates across three core verticals. These include 1Data, which provides AI-led cost intelligence; 1Source, an end-to-end sourcing solution; and 1Xcess, a marketplace for the liquidation of excess and obsolete inventory. The startup claims its platform can help electronics manufacturers achieve a 5–10 percent reduction in sourcing costs across active bills of materials, often within a few months of use.
The startup said it is currently working with large enterprises in India and overseas, with a focus on translating identified cost savings into measurable outcomes through execution.
