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Metalbook raises Rs 25 Cr debt from Northern Arc

EntrackrEntrackr · 1y ago
Metalbook raises Rs 25 Cr debt from Northern Arc
Medial

Full-stack metal supply-chain platform Metalbook has raised Rs 25 crore or (approximately $3 million) from Northern Arc. This is the first debt financing for the Delhi-based company. In February 2024, it raised $15 million led by Rigel Capital in Series A round. Metalbook’s board passed a special resolution to issue 250 non-convertible debentures at a face value of Rs 10,00,000 each to raise the above-mentioned sum, its regulatory filing sourced from Registrar of companies (RoC) shows. Founded in 2021, Metalbook is a full stack platform which helps businesses including SMEs with procurement, inventory liquidation, logistics, and credit among others. It claims to work with over 500 manufacturers, dealers and suppliers such as ArcelorMittal Nippon Steel, Tata Steel and JSW across 16 countries. In August last year, Axilor had led a $5 million seed round in Metalbook. The Delhi-based company is yet to disclose FY23 numbers but its revenue from operations stood at Rs 85.39 crore in FY22. Its losses also increased to Rs 25.90 crore in the same period. At the time of its Series A round in February, Metalbook said that it’s anticipating to achieve an annualized revenue run rate of $200 million by the end of FY24.

Metalbook raises $15 Mn in Series A round

EntrackrEntrackr · 1y ago
Metalbook raises $15 Mn in Series A round
Medial

Metalbook, a platform for the global metals supply chain, has raised $15 million in its Series A funding round led by Rigel Capital, with participation from FJ Labs, as well as existing investors, Axilor Ventures, Foundamental, Stride Ventures, Trifecta Capital, and others. Axilor had led $5 million seed round in Metalbook in August last year. Metalbook is poised to deepen its impact on the manufacturing and infrastructure supply chains, metal sourcing, logistics, and financing solutions for large-scale global projects, the company said in a press release. Founded in 2021, Metalbook helps enterprise & SME customers through their entire metal manufacturing and procurement cycle, including buying, selling, excess inventory liquidation, customization, logistics, financing, e-auctioning, scrap recycling, credit and project management solutions. “..We want to make sure that there is enough of a track record for market investors to look at before we plan for an Initial Public Offer (IPO) in 4-5 years,” said Raghavendra Pratap Singh, co-founder, Metalbook. The Delhi-based startup claims to work with over 500 global metal manufacturers, dealers and suppliers across the value chain and currently caters to more than 1,000 customers. The company works with global steel players such as ArcelorMittal Nippon Steel, Tata Steel, JSW, EU Metals, JSPL et al and several enterprise customers such as DLF, BL Kashyap, Bygging, etc. It recently launched new categories across Copper, Aluminium, and metal scrap and has built out a global footprint of processing centers, and more than 1,000 suppliers across 80 geographies. Metalbook is anticipated to achieve an annualized revenue run rate of $200 million by the end of FY24, a growth of over 15 times in the past two years.

India Index connecting Indian suppliers with the world, raises $500K from investors

IndianStartupNewsIndianStartupNews · 1y ago
India Index connecting Indian suppliers with the world, raises $500K from investors
Medial

B2B cloud-based supply chain marketplace India Index has successfully secured $500,000 in a pre-seed funding round, with participation from private investors both from the United States and India. Some notable participants in this funding round include Parth Jindal from JSW Group, Vaaman Sehgal from Motherson Group, and Robert Lansing from Westminster Capital. Established in 2022 by Samir N. Kapadia, India Index has introduced a cloud-based platform that serves as a hub for international buyers and Indian suppliers to efficiently search, filter, and evaluate potential supply chain partners. This process is designed to be seamless and cost-effective, streamlining the selection and vetting of suppliers. Samir Kapadia, the founder and CEO of India Index, emphasized the platform's role in enhancing visibility, connectivity, and commercial interactions between U.S. buyers and Indian suppliers. The funding received will contribute to the development of advanced features beyond the initial search, evaluation, document review, and workflow management solutions. The platform's upcoming tools will enable U.S. buyers to conduct transactions and manage logistics services directly through the platform, simplifying and consolidating the entire supply chain journey in one place. Kapadia described India Index as a digital infrastructure company that facilitates international trade, particularly between India and the rest of the world, on a significant scale. India Index's funding round showcases the growing interest in innovative solutions aimed at optimizing supply chain processes and enhancing global trade relationships. With support from both Indian and U.S. investors, the startup is well-positioned to further develop its platform and contribute to the modernization and efficiency of B2B supply chain operations.

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