IPO-bound B2B marketplace OfBusiness developed Nexizo.AI, a new SaaS platform to assist mid-market & big organizations in driving growth

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Platform enables businesses to identify potential buyers for their products, gain market data for competitive intelligence, gauge raw material prices

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Users can also employ software applications to improve their sales, shipping, and inventory tasks

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OfBusiness stated that it is looking for "top-tier" small & medium-sized enterprises (SMEs) in the infrastructure and manufacturing sectors

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Unicorn stated that the new platform is a "strategic step" toward developing a vertical commerce ecosystem focusing on materials, finance, and software solutions

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Company also developed an AI engine for its BidAssist platform that converts complex public procurement data into meaningful purchasing signals

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The engine, it claims, processes and tracks over 25 million data points per year from over 50 million tenders and documents

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The new platform launches as OfBusiness prepares for a public listing in the latter half of 2025

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OfBusiness intends to raise up to $1 billion through its IPO, including a new $200 million offering. It hopes to get a valuation between $6 billion and $9 billion

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In FY24, its net profit increased 30% YoY to INR 603 Cr, while operational revenue increased by more than 25% YoY to INR 19,296.3 Cr

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