AI-Driven Industrial Marketplace NowPurchase Raises ₹80 Crore to Transform Metal Manufacturing
What is the news?
NowPurchase, an innovative AI-enabled B2B platform founded in 2017 by Naman Shah and Aakash Shah, has successfully closed an ₹80 crore funding round. This round, led by the prominent financial services group Bajaj Finserv, marks a significant milestone for the startup as it seeks to redefine how metal manufacturers optimize production and procure high-quality raw materials. The participation of seasoned investors like InfoEdge Ventures and Orios Venture Partners underscores the market’s confidence in NowPurchase’s tech-first approach to a traditionally fragmented industry.
Why is it interesting?
The core of NowPurchase’s value proposition lies in MetalCloud, an AI platform that utilizes IoT and Computer Vision to help manufacturers digitize their entire production lifecycle. Beyond mere procurement, the company is making significant strides in sustainability through its scrap recycling infrastructure and branded alloy products. By solving the transparency and reliability issues in the metal sector, NowPurchase is demonstrating how Indian intellectual capital can create sophisticated, vertically-integrated solutions that have the potential for global application.
The newly acquired capital is slated for strategic deployment in R&D and the expansion of their scrap processing centers. This growth not only strengthens India’s position as a global innovation hub but also showcases the “Global Indian Alpha” spirit of building resilient, technology-backed businesses that drive real-world economic value.
Read more: NowPurchase Raises 80 Cr Led By Bajajfinsv