B2B commerce startup Bijnis has rebranded as Zorit and raised ₹27 crore in a funding round led by Sparrow Capital, as it focuses on delivering inventory to offline retailers through an inventory-led quick-commerce model.
The round also saw participation from existing investors Info Edge and WaterBridge Ventures, Better Capital, angel investors and employees. The fresh capital will be used to strengthen its quick-commerce infrastructure, expand its product range and deepen relationships with retailers.
Founded in 2015 by Siddharth Vij, Chaitanya Rathi, Siddharth Rastogi and Sachin Chauhan, the company initially operated as a digital marketplace connecting manufacturers with retailers. It shifted to an inventory-led model in late 2024, stocking products in local dark stores to enable faster replenishment.
From B2B Marketplace to 60 Minute Delivery
Under the Zorit brand, retailers can source products from nearby dark stores, with deliveries available in as little as 60 minutes. This is a sharp change from the seven-to-eight-day delivery cycles of its earlier marketplace model.
The company currently operates 12 dark stores across 12 cities and reports annualised sales of ₹120 crore. It says nearly half of its stores have reached break-even, including the cost of liquidating unsold inventory.
Zorit’s approach is designed to help neighbourhood retailers replenish stock more frequently without relying entirely on traditional wholesale procurement cycles. For manufacturers, the platform provides another route to reach retailers through a local fulfilment network.
Retailer Retention Improves Fourfold
Zorit says nearly 60% of its retailers had never used an online B2B platform before joining the service. Monthly ordering frequency has increased fivefold compared with its previous model, while retailer retention beyond the sixth month has improved fourfold.
According to co-founder and CEO Siddharth Vij, retailers place an average of five to six orders per month, with the strongest customer cohorts placing more than 10 orders.
These figures suggest that faster replenishment may be helping Zorit become part of retailers’ regular purchasing routines. However, the company’s reported retention and ordering metrics have not been independently audited in the available announcement.
Info Edge Returns Despite Earlier Write-Off
The latest investment is notable because Info Edge had written off its entire ₹76.65 crore investment in Bijnis in 2023, citing financial and operational concerns at the time.
Following the new round, Info Edge’s stake is expected to rise to 20.12% on a fully converted and diluted basis, according to reports. The investor has also indicated that it may acquire additional equity through a secondary transaction.
Bijnis had previously raised more than $43 million, including a $30 million Series B round led by WestBridge Capital in 2021. Its earlier investors also included Matrix Partners, now known as Z47, and Sequoia Capital, now Peak XV Partners.
The change to Zorit represents a significant shift in how the business operates. Instead of primarily connecting buyers and sellers, it now holds inventory and manages local fulfilment—an approach that can improve delivery speed but also increases the importance of working-capital management and stock planning.
For Siddharth Vij and his co-founders, the next challenge is to turn stronger retailer engagement into sustainable economics across more locations. The ₹27 crore funding will support expansion, but long-term success will depend on repeat orders, inventory discipline and consistent store-level profitability.
