The platform uses proprietary low-code / no-code technology to facilitate the bidding, allowing transparent price discovery in private sector procurement, the startup noted in a statement.
The patent opens avenues for new revenue streams, strategic partnerships, and market expansion, it added.
While Biddofy operates exclusively in the private sector, the platform aligns with national priorities such as formalising the digital supply chain and bringing more MSMEs into the GST ecosystem as the platform requires GST registration, said cofounder Sudeer Shetty. He added that it would incentivise small businesses to avail of opportunities beyond govt procurement.
The statement added that the platform allows smaller enterprises to compete for high-value private sector orders and gain national exposure without investing in complex IT systems. Built-in GSTIN verification and automated HSN/SAC matching further simplify compliance.