NowPurchase, a SaaS-enabled marketplace focused on streamlining the metal manufacturing sector, has successfully raised $6 million in a combination of equity and debt. The funding round was led by Info Edge Ventures, with participation from Orios Ventures Partners, 100 Unicorns, VC Grid, and several prominent family offices and angel investors, including Dholakia Ventures, Real Ispat Group, Subhrakant Panda, Ankur Warikoo, and Kedar Lele. Capsave Finance and UC Inclusive also contributed to the round.
With this new funding, NowPurchase has raised its total capital to $10 million. The startup plans to utilize the funds for business expansion and the development of new solutions that cater specifically to the needs of the metal manufacturing industry. This includes the creation of a network of scrap processing centres, the development of private label products, and the integration of AI-driven solutions alongside its proprietary MetalCloud platform.
NowPurchase, founded in 2017 by Naman Shah and Aakash Shah, focuses on procuring raw materials for metal manufacturers through its scrap recycling services and MetalCloud, an operating system designed to optimize production processes. By leveraging AI and other advanced technologies, MetalCloud enhances transparency and efficiency across metal production and melting processes.
In addition to the platform, NowPurchase offers a WhatsApp bot for real-time price discovery and stock availability, a dedicated team for on-ground support and quality assurance, and a comprehensive SaaS platform for process optimization. The company serves over 250 factories across the metal supply chain, with major clients including Titagarh Rail Systems Limited and Brakes India.
This latest investment round will allow NowPurchase to further accelerate its mission of revolutionizing the metal manufacturing industry through technology-driven innovation.
