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NowPurchase raises $6 Mn led by Info Edge Ventures, others

EntrackrEntrackr · 10m ago
NowPurchase raises $6 Mn led by Info Edge Ventures, others
Medial

NowPurchase, a SaaS-enabled marketplace for metal manufacturers, has raised $6 million in equity and debt round led by Info Edge Ventures. Orios Ventures Partners, 100 Unicorns, VC Grid, as well as family offices and angel investors such as Dholakia Ventures, Real Ispat Group, Subhrakant Panda, Ankur Warikoo, and Kedar Lele, Capsave Finance and UC Inclusive also participated in the round. Post this round, the total funds raised by the startup to date stands at $10 million. The proceeds will be used for expansion and rolling out new solutions to better serve the metal manufacturing industry, NowPurchase said in a press release. Additionally, the new funds will support the creation of a network of scrap processing centers, the development of private labels, and the integration of AI and MetalCloud as the foundational operating system for metal manufacturing. Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase procures raw materials through its scrap recycling services and metal cloud platform to benefit metal manufacturers. It also provides its users with a WhatsApp bot to discover prices and stock in real time, a team to provide on-ground service and quality assurance, and a proprietary SaaS platform to optimise their manufacturing process. The company’s proprietary platform, MetalCloud, acts as an operating system that enhances transparency and efficiency in metal production and melting processes. It serves over 250 factories across the metal supply chain, including major corporations like Titagarh Rail Systems Limited, Brakes India and many more.

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.

Stride Green raises $3.5 Mn in seed round

EntrackrEntrackr · 2m ago
Stride Green raises $3.5 Mn in seed round
Medial

Stride Green raises $3.5 Mn in seed round Gurugram-based climate-tech platform Stride Green has raised $3.5 million in a seed funding round led by Micelio Technology Fund and Incubate Fund Asia, along with participation from other strategic investors. The proceeds will be used to expand the team, enhance its technology platform, and support its growth across India's clean energy transition sectors, including electric mobility, battery storage, and renewable energy. Founded by Ishpreet Gandhi and Vivek Jain, Stride Green provides asset financing and lifecycle management solutions tailored for sustainable businesses. It uses its proprietary tech stack to offer real-time analytics, alerts, and operational insights aimed at improving asset performance and longevity. The platform currently manages over 3,000 cleantech assets and collaborates with original equipment manufacturers and logistics firms. Stride Green facilitates leasing and financing solutions for these sectors, enabling companies to scale sustainably. Stride Green is also planning geographical and vertical expansion to deepen its role within the climate-tech space.

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