NowPurchase Raises USD 8.6 Mn Led by Bajaj Finserv
The round also saw participation from Info Edge Ventures, Orios Venture Partners, and several individual investors and family offices.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
NowPurchase, an AI-enabled B2B platform for metal manufacturers, has raised about USD 8.6 million (around INR 80 crore) in a funding round led by Bajaj Finserv.
The round also saw participation from Info Edge Ventures, Orios Venture Partners, and several individual investors and family offices, including Shikhar Raj, Real Ispat Group, Madhur Gupta of Lloyds Group, VC Grid, and Professor Kartik Hosanagar.
The fresh capital will be used to drive key growth initiatives. It plans to strengthen its scrap recycling operations, expand its portfolio of branded products, and scale its AI-powered platform, MetalCloud.
With this latest investment, NowPurchase has raised a total of approximately INR 120 crore (USD 14.46 million) in equity funding so far.
Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase provides an AI-enabled procurement solution that helps metal manufacturers source raw materials such as scrap, alloys, and additives in a transparent and reliable manner. The brand also operates a network of scrap processing centres and offers branded products.
Its platform, MetalCloud, uses technologies like IoT and computer vision to help manufacturers digitise and optimise production processes.
NowPurchase operates in a competitive segment, with rivals such as JSW One MSME, OfBusiness, and Metalbook also building digital supply chains for metals and industrial raw materials in India.
NowPurchase, an AI-enabled B2B platform for metal manufacturers, has raised about USD 8.6 million (around INR 80 crore) in a funding round led by Bajaj Finserv.
The round also saw participation from Info Edge Ventures, Orios Venture Partners, and several individual investors and family offices, including Shikhar Raj, Real Ispat Group, Madhur Gupta of Lloyds Group, VC Grid, and Professor Kartik Hosanagar.
The fresh capital will be used to drive key growth initiatives. It plans to strengthen its scrap recycling operations, expand its portfolio of branded products, and scale its AI-powered platform, MetalCloud.
With this latest investment, NowPurchase has raised a total of approximately INR 120 crore (USD 14.46 million) in equity funding so far.
Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase provides an AI-enabled procurement solution that helps metal manufacturers source raw materials such as scrap, alloys, and additives in a transparent and reliable manner. The brand also operates a network of scrap processing centres and offers branded products.
Its platform, MetalCloud, uses technologies like IoT and computer vision to help manufacturers digitise and optimise production processes.
NowPurchase operates in a competitive segment, with rivals such as JSW One MSME, OfBusiness, and Metalbook also building digital supply chains for metals and industrial raw materials in India.
