Aavishkaar Capital leads $5 Mn round in Poshs Metal

Entrackr · 9h

Aavishkaar Capital leads $5 Mn round in Poshs Metal Poshs Metal Industries, a company that specializes in auto-grade flat steel processing, has raised Rs 43 crore ($5 million) in a funding round led by Aavishkaar Capital. The proceeds will be used to support the establishment of a new processing facility in Aurangabad, expanding Poshs Metal’s capacity to serve OEM clients more efficiently. Founded by Ashok Kapoor, Poshs Metal operates as a steel service center for tier I automotive manufacturers. It has maintained a 25-year exclusive partnership with Tata Steel for steel processing and distribution in Western India. Key clients include Tata Motors, Bajaj Auto, Mahindra, Volkswagen, and Volvo. The company offers value-added services such as steel blank customization, in-house packaging, and scrap processing. It also introduced a sustainable steel pallet system to replace wooden pallets. This is the seventh investment from Aavishkaar’s $220 million global supply chain support fund, which supports SMEs in Asia and Africa focused on sustainable and inclusive practices. The fund is backed by Germany’s KfW Development Bank.