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B2B quick commerce startup Zorit, formerly known as Bijnis, has raised nearly Rs 27 crore ($2.84 million) in a funding round led by Sparrow Capital. Existing investors Info Edge and WaterBridge participated in the round, along with Better Capital, angel investors and employees. The angel investors include Anupam Mittal, founder of Shaadi.com, the founders of Shiprocket, Mohit Sardana, CEO of Xpressbees, and Sarthak Misra of SoftBank. Following the investment, Info Edge’s shareholding in Bijnis will increase to 20.12% on a fully converted and diluted basis. In a stock exchange disclosure earlier this week, Info Edge said it may also acquire additional equity in the company through a secondary transaction. Founded in 2015 by Siddharth Vij, Chaitanya Rathi, Siddharth Rastogi and Sachin Chauhan, Zorit initially operated as a B2B marketplace connecting manufacturers with retailers. The company transitioned to an inventory led quick commerce model in late 2024. Zorit enables offline retailers to source inventory from locally stocked dark stores, with deliveries in as little as 60 minutes. The platform operates 12 dark stores across 12 cities and has reached Rs 120 crore in annualised sales. Nearly 50% of its dark stores have achieved break even, including the cost of liquidating unsold inventory. According to the company, nearly 60% of its retailers had never used an online B2B platform before. Retailer retention beyond the sixth month has improved fourfold compared with its previous model, while monthly ordering frequency has increased fivefold. Retailers place an average of five to six orders per month, with top cohorts exceeding 10 orders. The fresh capital will be used to strengthen its quick commerce infrastructure, expand its product assortment and deepen retailer engagement across its operating markets. “We strongly believe that a substantial part of India’s future commerce will remain retailer led. As consumer expectations evolve, retailers need better technology and supply chain infrastructure to compete and grow,” said Siddharth Vij, CEO of Zorit. In May 2023, Info Edgewrote off its entire investment of Rs 76.65 crore in Bijnis, operated by Bizcrum Infotech Pvt Ltd. The startup had previously raised capital from investors including Matrix Partners (now Z47), Sequoia Capital (now Peak XV Partners) and WestBridge Capital. Bijnis raised $30 million in a Series B round led by WestBridge Capital in September 2021 and had secured over $40 million in total funding. With its shift to quick commerce, Zorit is focusing on faster inventory replenishment, locally relevant product assortments and lower minimum order values for offline retailers.
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