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OfBusiness's AI-powered BidAssist Expands Reach Beyond India's Big Cities
Sentiment: NeutralMedium Priority
What Happened?
BidAssist, an AI-enabled unit of OfBusiness Tech, is gaining traction among small and midsize businesses in Tier-II and Tier-III cities, with over 60% of its 1.7 million users from these areas. The platform tracks over 50,000 live tenders daily, helping businesses assess bidding opportunities.
Key points
- BidAssist aggregates procurement opportunities from various organizations.
- It has indexed over 55 million tenders and results across India.
- Tender value in civil and construction sectors increased by approximately 25% from Q3 FY26 to Q2 FY27.
- Road construction tenders grew by about 27% in the same period.
- BidAssist serves both Nifty 50 companies and private sector banks.
- The platform's subscription revenue exceeds its operating costs.
Key insights
- BidAssist's expansion could enhance the competitiveness of SMEs in bidding processes.
- The rising demand in infrastructure sectors may lead to more opportunities for small businesses.
- BidAssist's self-funded model could inspire other tech platforms in the procurement space.
Why it matters
The growth of BidAssist indicates increasing digital tool adoption among small businesses in India.
Tags
Entities
OfBusiness· CompanyBidAssist· ProductSoftBank· Organization
Source
Business Standard
