Bijnis Rebrands As Zorit, Raises ₹27 Cr For B2B Quick Commerce
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Delhi-based B2B ecommerce startup Bijnis has rebranded as Zorit and raised ₹27 Cr in a funding round led by Sparrow Capital, as it doubles down on an inventory-led quick-commerce model for offline retailers.
The round saw participation from existing investors Info Edge and WaterBridge Ventures, Better Capital, and angel investors including Shaadi.com founder Anupam Mittal, the founders of Shiprocket, Xpressbees CEO Mohit Sardana and Sarthak Misra of SoftBank, as per its press note.
The fresh capital will be used to strengthen its quick commerce infrastructure, expand its product assortment and deepen engagement with retailers across its operating markets.
Founded in 2015 by Siddharth Vij, Chaitanya Rathi, Siddharth Rastogi and Sachin Chauhan, the startup initially built a digital marketplace connecting manufacturers with retailers. It shifted to an inventory-led B2B quick-commerce model in late 2024, stocking products in local dark stores to enable faster replenishment for neighbourhood retailers.
As Bijnis, the startup had raised over $43 Mn, including a $30 Mn funding round. However, the startup ran into severe operational and financial trouble by 2023.
In its new avatar, the startup allows retailers to source products locally stocked dark stores, with delivery in as little as 60 minutes. This compares with the seven-to-eight-day delivery cycles of its earlier online B2B model and the 24–48-hour fulfilment typically offered by local wholesale traders.
Zorit currently claims to operate 12 dark stores across 12 cities and claims to have reached ₹120 Cr in annualised sales. Nearly half of its stores have achieved break-even, including the cost of liquidating unsold inventory, the company said.
The startup said that monthly ordering frequency has increased fivefold compared with its previous model, while retailer retention beyond the sixth month has improved fourfold.
“Zorit’s quick commerce model has brought a new segment of retailers into digital sourcing, with nearly 60% having never used an online B2B platform before. Compared with its previous model, retailer retention beyond month 6 has improved 4X,” cofounder and CEO Siddharth Vij said.
Info Edge wrote off its entire ₹76.6 Cr investment in Bijnis in 2023. The investor cited continuing cash burn, limited cash availability relative to potential liabilities linked to investor buyback obligations, and uncertainty over future fundraising back then.
On the fresh investment, Info Edge Ventures’ partner Kitty Agarwal said, “Zorit’s manufacturer-first approach has now evolved into a powerful quick-commerce layer for small retailers – enabling access to a wide assortment with speed and ease. This has unlocked incredible frequency and retention among retailers, while simultaneously creating deeper demand for manufacturers.”
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