Procurement and cost management startup 1Buy.AI has secured ₹32.5 crore in seed capital, with 100Unicorns leading the round.
The fundraise also saw backing from Gruhas, Ashish Kacholia, US-based FJ Labs, along with participation from a group of current customers.
The Delhi-based startup will use the funds to enhance its AI-driven procurement and cost-reduction solutions for electronics manufacturers.
The new capital is aimed at accelerating the development of scalable SaaS offerings and expanding global data connectivity.
The company plans to improve its decision-grade platform that integrates data intelligence, sourcing execution, and inventory liquidation, helping clients achieve measurable cost savings.
1Buy.AI was founded in 2023 by Visham Sikand, Nitin Jain, and Pradeep Paliwal, collectively known as the “Midas Touch Founders.”
Sikand serves as CEO, Jain is the Global Business Head, and Paliwal is CTO. The team brings prior experience from ventures such as Goals101, OfBusiness, and EbixCash.
The platform operates across three verticals: 1Data, which provides AI-driven pricing benchmarks and alternate component options; 1Source, a global sourcing platform with transparent cost comparisons; and 1Xcess, a marketplace for liquidating excess and obsolete inventory.
1Buy.AI currently serves about 15 large enterprise clients in India, supporting an annual sourcing volume of nearly ₹4,500 crore and delivering 5–10% savings on active bills of materials.
The company works with electronics manufacturers both in India and internationally, helping procurement teams shift from reactive buying to data-driven, proactive decision-making.
