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Can Nexizo Be The AI Moat For OfBusiness?
- OfBusiness, a B2B ecommerce platform, launched an AI platform called Nexizo to provide market insights and optimize sales functions.
- The company's AI push through Nexizo coincides with its preparations for a $1 Bn IPO in the second half of 2025.
- OfBusiness, a Gurugram-based unicorn founded in 2016, offers raw material procurement and financing solutions to SMEs.
- Nexizo is OfBusiness' proprietary AI platform that showcases pricing and tender information to clients, aiding in lead generation.
- The AI platform has gained 1 Mn registered users, with 400K monthly active users, predominantly from small enterprises, contractors, and suppliers.
- OfBusiness integrated BidAssist platform's functionalities into Nexizo and is exploring new monetization strategies.
- Jain believes that AI platforms aligned with core businesses or as separate verticals are crucial for long-term success.
- AI adoption in India faces challenges, with many enterprises struggling to transition proof of concepts to full-scale deployment.
- OfBusiness upskilled existing talent to build Nexizo, emphasizing the need for more AI adoption examples in the startup ecosystem.
- Leaders highlight the importance of AI adoption for efficiency, as Agentic AI solutions gain momentum in India's evolving AI landscape.
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