NowPurchase, a prominent SaaS-enabled marketplace catering to the metal manufacturing industry, has successfully raised $6 million in its latest funding round. The investment was led by Info Edge Ventures, with additional participation from Orios Ventures Partners, 100 Unicorns, VC Grid, and esteemed angel investors such as Dholakia Ventures, Real Ispat Group, Subhrakant Panda, Ankur Warikoo, Kedar Lele, Capsave Finance, and UC Inclusive.
Expansion Plans and Technological Advancements
This funding brings NowPurchase’s total capital raised to $10 million. The company plans to channel the funds into expanding its services, establishing a network of scrap processing centers, developing private labels, and integrating AI into its operations. NowPurchase also plans to further enhance its flagship product, MetalCloud, positioning it as the primary operating system for metal manufacturing processes.
About NowPurchase
Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase specializes in providing raw materials through scrap recycling services and the innovative MetalCloud platform. The company offers an array of services, including a WhatsApp bot for real-time price and stock updates, on-ground support, and quality assurance solutions to streamline manufacturing processes.
With this new capital, Vahan.ai plans to further enhance its AI recruitment technology, expanding its reach by offering services in 8 major Indian languages
MetalCloud Platform
MetalCloud, NowPurchase’s advanced platform, enhances transparency and efficiency in metal production. It currently serves over 250 factories in the metal supply chain, including notable clients such as Titagarh Rail Systems Limited and Brakes India. The platform is set to revolutionize metal manufacturing with its state-of-the-art operating system.
This strategic round of funding will help NowPurchase solidify its position as a key player in the metal manufacturing sector and drive further growth through cutting-edge innovations.
