At a time when an increasing number of new-age tech ventures in the country are launching AI platforms for various business use cases — from streamlining customer interactions with agentic AI to improving workflow management — B2B ecommerce platform OfBusiness has sharpened its AI arsenal.

Earlier this year, the company launched an AI platform, Nexizo, to help its existing customers gain deeper market insights and optimise their sales, logistics and inventory functions.

Understandably, the company’s AI push, in the form of Nexizo, has come at a crucial time, as the company gears up for a $1 Bn IPO, likely in the second half of 2025.

But, what is OfBusiness up to when it comes to AI adoption and implementation, one may ask?

To understand this, we spoke with OfBusiness’ cofounder and chief business officer Nitin Jain, who said that Nexizo is OfBusiness’ extended leap in the realm of AI.

With this move, the startup has transitioned beyond just showcasing pricing and tender details to assisting enterprises with lead generation.

Now, before we dive into what OfBusiness is trying to achieve with Nexizo, let’s learn a thing or two about the Gurugram-based unicorn.

Founded in 2016 by Asish Mohapatra, Nitin Jain, Ruchi Kalra, Vasant Sridhar, and Bhuvan Gupta, OfBusiness offers raw material procurement and financing solutions to SMEs in the manufacturing and infrastructure sectors.

The categories of these services range from steel and chemicals to polymers and bitumen. The company, which achieved unicorn status in 2021, also runs a fintech arm, Oxyzo.

OfBusiness’ operating revenue jumped 25% YoY to cross the INR 19,000 Cr mark in FY24, while net profit surged 30% YoY to INR 603 Cr.

The company claims to have impacted over 4 Lakh businesses via its tech, with deliveries to more than 13,000 SMEs. It is this user base data the company claims to be leveraging to........

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