B2B Quick Commerce Startup Zorit Secures Major Funding
B2B quick commerce startup Zorit, which was previously called Bijnis, has successfully raised close to Rs 27 crore (approximately $2.84 million) in a funding round directed by Sparrow Capital. The investment continues to see participation from existing investors, including Info Edge and WaterBridge, alongside Better Capital, angel investors, and employees. Notable angel investors involved comprise Anupam Mittal, the founder of Shaadi.com, the founders of Shiprocket, Mohit Sardana, the CEO of Xpressbees, and Sarthak Misra from SoftBank. Following this funding round, Info Edge’s stake in Bijnis will rise to 20.12% on a fully converted and diluted basis. Info Edge has indicated it may also pursue additional equity in the company through a secondary transaction.
Background of Zorit
Established in 2015 by Siddharth Vij, Chaitanya Rathi, Siddharth Rastogi, and Sachin Chauhan, Zorit began as a B2B marketplace that linked manufacturers with retailers. The startup underwent a transformation to an inventory-led quick commerce model in late 2024.
Operations and Achievements
Zorit facilitates offline retailers in sourcing inventory from nearby stocked dark stores, promising delivery within just 60 minutes. The platform currently operates 12 dark stores across 12 cities and has achieved Rs 120 crore in annualised sales. Impressively, nearly half of its dark stores have reached the break-even point, accounting for costs linked to unsold inventory.
Retailer Engagement
According to Zorit, approximately 60% of its retailers had never previously engaged with an online B2B platform. The company’s retention rates beyond the sixth month have quadrupled compared to its earlier model, and the frequency of monthly orders has jumped fivefold. Retailers are making an average of five to six orders each month, with leading cohorts surpassing 10 orders.
Utilisation of Capital
The fresh investment will be channelled towards bolstering Zorit’s quick commerce infrastructure, diversifying its product range, and enhancing retailer engagement across its operational markets. Siddharth Vij, the CEO of Zorit, stated that there is a strong belief that a significant portion of India’s future commerce will continue to be retailer-led. He emphasised that as consumer demands evolve, retailers require enhanced technology and supply chain infrastructures to remain competitive and thrive.
Past Funding and Strategic Shift
In May 2023, Info Edge wrote off its entire investment of Rs 76.65 crore in Bijnis, which is operated by Bizcrum Infotech Pvt Ltd. The startup had previously garnered investment from various backers, including Matrix Partners (now Z47), Sequoia Capital (now Peak XV Partners), and WestBridge Capital. Bijnis successfully raised $30 million in a Series B funding round led by WestBridge Capital in September 2021, accumulating over $40 million in total funding.
Future Focus
With the transition to quick commerce, Zorit is now prioritising faster inventory replenishment, product assortments that resonate with local demand, and reduced minimum order values for offline retailers.