Revolutionizing B2B: OfBusiness’ Nexizo Sets New Standards in AI Solutions

OfBusiness, the Gurugram-based B2B e-commerce platform, is making waves with its new AI platform, Nexizo. This initiative comes at a pivotal moment as the company prepares for a $1 billion IPO in late 2025. Nexizo aims to equip existing customers with enhanced market insights and optimize their sales, logistics, and inventory management.

What is Nexizo?

Nexizo is OfBusiness’ latest leap into the world of artificial intelligence. The platform goes beyond merely displaying pricing and tender details; it actively assists businesses in lead generation. Co-founder Nitin Jain emphasized that Nexizo represents a significant advancement in OfBusiness’ AI capabilities.

OfBusiness at a Glance

Founded in 2016, OfBusiness provides raw material procurement and financing solutions to SMEs in sectors like manufacturing and infrastructure. The company has seen impressive growth, with operating revenue soaring 25% year-on-year to over INR 19,000 crore in FY24. Its fintech arm, Oxyzo, further complements its offerings.

AI Journey So Far

OfBusiness has been exploring AI long before the recent surge in interest sparked by OpenAI’s innovations. Jain noted that the company had already implemented machine learning models to assist clients with government tenders. The BidAssist platform processed over 25 million data points annually from more than 50 million tenders.

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Transition to Proprietary AI

Recognizing the limitations of existing large language models (LLMs), OfBusiness decided to develop its proprietary AI. By fine-tuning open-source models with its unique data, Nexizo can efficiently process client requests. For instance, it can quickly fetch relevant tender information based on specific queries.

User Engagement and Future Plans

Nexizo has already attracted 1 million registered users, with around 400,000 active monthly users. The platform serves a diverse clientele, including small enterprises and financial institutions. OfBusiness plans to integrate its BidAssist platform into Nexizo while exploring new monetization strategies.

Challenges and Opportunities in AI Adoption

Despite the promising landscape for AI in India, many enterprises face challenges in implementation. Jain highlighted that confusion around AI use cases persists among smaller businesses. However, he believes that successful examples from startups can pave the way for broader adoption.

As India moves towards a $17 billion market opportunity in AI by 2030, companies like OfBusiness are at the forefront of this transformation. With Nexizo, OfBusiness not only aims to enhance its service offerings but also positions itself as a leader in the evolving B2B e-commerce space.