Info Edge Returns to Backer It Wrote Off as Bijnis Rebrands to Zorit

Info Edge, which wrote off its entire Rs 76.65 crore investment in Bijnis in May 2023, has put fresh money into the same company — now rebranded as Zorit — as part of a Rs 27 crore ($2.84 million) funding round led by Sparrow Capital.

The round, disclosed by Info Edge in a regulatory filing on 23 October, also drew existing backers WaterBridge Ventures, Better Capital, angel investors and employees. The angels include Shaadi.com founder Anupam Mittal, the founders of Shiprocket, Xpressbees B2C CEO Mohit Sardana and Sarthak Misra of SoftBank.

Info Edge's wholly owned subsidiary, Startup Investments (Holding) Ltd, agreed to invest about Rs 5 crore in Bizcrum Infotech Private Limited, the company behind the platform. The commitment arrives roughly three and a half years after the investor erased the stake from its books. The turnaround bet, not the amount, is the real story here.

What do the numbers say?

Bizcrum Infotech's turnover was Rs 113.89 crore in FY26, down from Rs 132.62 crore in FY25 — a fall of about 14% — after growth of roughly 68% from Rs 79.05 crore in FY24. The company reported a loss of Rs 44.04 crore for FY26 and a net worth of Rs 7.84 crore as of 31 March 2026.

Against that backdrop, Zorit says it has now reached Rs 120 crore in annualised sales. Nearly half of its dark stores have broken even, the company said, counting even the cost of liquidating unsold inventory. Neither claim is independently verified; both come from the company itself.

Revenue shrinking while annualised sales grow signals a model swap, not a simple recovery. The question is whether the new economics hold beyond the stores that have crossed the line.

From marketplace to 60-minute deliveries

Founded by Siddharth Vij, Chaitanya Rathi, Siddharth Rastogi and Sachin Chauhan, Zorit started as a B2B marketplace in Agra connecting footwear and apparel manufacturers with retailers. In December 2024 it rebuilt the business around dark stores and its own inventory. Offline retailers now order stock from locally stocked dark stores and receive it in as little as 60 minutes.

As of October 2026, the startup had 15 dark stores and more than 600 factories on its platform. It lists a minimum order value of Rs 1,500 with payment on delivery. Factories are paid in under 45 days, the company says — a term that matters to suppliers who bore the risk of the earlier model.

"We strongly believe that a substantial part of India's future commerce will remain retailer led. As consumer expectations evolve, retailers need better technology and supply chain infrastructure to compete and grow," said Siddharth Vij, CEO of Zorit.

The new capital will fund quick commerce infrastructure, a wider product range and deeper retailer engagement in existing markets. The statement names no new cities, no store-count target and no timeline.

Why Info Edge wrote off Rs 76.65 crore

In May 2023, Info Edge wrote off its entire Rs 76.65 crore investment in Bizcrum Infotech. The company cited "continuing cash burn, limited availability of cash in proportion to unspecified liabilities with respect to buyback obligations (including liquidation preference)" and uncertainty over future fundraising.

The write-off came less than two years after Bijnis raised $30 million in a Series B round led by WestBridge Capital in September 2021. That round followed a $10 million Series A in July 2020 led by Sequoia Capital — now Peak XV Partners — and Matrix Partners, now Z47. Before the current round, the startup had raised more than $40 million in total.

A company that burned through $40 million, saw its largest backer exit at zero, and returned with Rs 27 crore is betting its dark-store pivot can do what the marketplace could not. Whether Sparrow Capital's cheque becomes a recovery story or a second write-off depends on whether the remaining half of those dark stores reaches break-even.