NowPurchase, a marketplace focused on metal manufacturers, has raised Rs 80 crore in a fresh funding round led by Bajaj Finserv, with participation from existing investors Info Edge Ventures and Orios Venture Partners.
Additionally, the round saw participation from individual investors and family offices, including Shikhar Raj, Real Ispat Group, Madhur Gupta of Lloyds Group, VC Grid, and Professor Kartik Hosanagar. As a result, the company has secured fresh capital to accelerate its growth and innovation strategy.
Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase aims to modernise how metal manufacturers procure raw materials and manage production. The platform enables the sourcing of scrap, alloys, and additives while also operating scrap processing centres and branded product lines.
Moreover, the company’s proprietary software platform, MetalCloud, integrates IoT sensors and computer vision to help factories digitise operations and optimise production efficiency. This combination of procurement and technology addresses long-standing challenges in the metal industry, such as fragmented supply chains, inconsistent pricing, and limited visibility.
Commenting on the development, Naman Shah stated, “This investment will accelerate our investment in R&D capabilities and scrap recycling infrastructure to drive innovation and create meaningful value for our customers… NowPurchase is well-positioned to double down on its core operations and continue scaling with strong unit economics.”
At the same time, Aakash Shah highlighted that the funding will drive the expansion of MetalCloud, the company’s AI-powered platform. He emphasised that the company sees artificial intelligence as a key enabler in transforming shop-floor operations by identifying patterns, reducing waste, and improving production consistency rather than replacing human decision-making.
Furthermore, investors echoed confidence in the company’s growth trajectory. Lakshmi Iyer of Bajaj Alternates noted that the investment comes at a crucial stage, citing NowPurchase’s nationwide presence, global ambitions, and AI capabilities as major growth drivers. Similarly, Girish Jhunjhunwala underlined the importance of technology-led efficiency and resilient supply chains in supporting long-term growth.
With this latest round, NowPurchase has raised approximately Rs 120 crore in total equity funding to date. Previously, in 2024, the company secured $6 million in a mix of equity and debt financing led by Info Edge Ventures.
Meanwhile, this funding aligns with a broader trend of increasing investor interest in technology-driven B2B procurement platforms within manufacturing and metals. Companies such as Zetwerk, OfBusiness, and Metalbook have gained traction by digitising sourcing, financing, and production processes.
Notably, Zetwerk recently initiated its IPO journey with a confidential filing with SEBI, while OfBusiness and Metalbook continue to build full-stack platforms integrating procurement, credit, logistics, and data-driven manufacturing services.
NowPurchase’s latest funding round underscores the growing momentum behind digital transformation in India’s industrial ecosystem. As supply chains evolve and demand for efficiency rises, platforms that combine procurement with advanced technologies like AI and IoT are well-positioned to reshape the future of manufacturing.
