NowPurchase Raises ₹80 Cr Led by Bajaj Finserv
NowPurchase secures Rs 80 crore funding led by Bajaj Finserv.
Key Highlights
NowPurchase, a metal manufacturing marketplace, secures ₹80 Cr funding led by Bajaj Finserv. Funds to expand scrap recycling, branded products, and AI platform.
NowPurchase, a marketplace catering to metal manufacturers, has secured Rs 80 crore in a recent funding round spearheaded by Bajaj Finserv. Existing investors Info Edge Ventures and Orios Venture Partners also participated in the round.
Individual investors and family offices, including Shikhar Raj of Real Ispat Group, Madhur Gupta of Lloyds Group, VC Grid, and Professor Kartik Hosanagar, also contributed to the funding.
The investment aims to provide fresh capital for the company’s efforts to modernize raw material procurement and production management for metal manufacturers. This comes at a time when industrial supply chains face increasing pressure to enhance speed, sustainability, and transparency.
Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase aids metal producers in sourcing scrap, alloys, and additives. The company also operates scrap processing centers and manages branded product lines.
NowPurchase’s software layer, MetalCloud, employs connected sensors (IoT) and computer vision to assist factories in digitizing and optimizing their production processes. This integration of procurement and technology addresses the metal sector’s challenges related to inconsistent pricing, quality, and supply visibility.
Naman Shah, Founder and CEO of NowPurchase, stated that the investment will accelerate the company’s R&D capabilities and scrap recycling infrastructure. This will drive innovation and create value for customers, positioning NowPurchase to scale its core operations with strong unit economics.
Aakash Shah, Co-founder, noted that the funding will expedite the expansion of MetalCloud, the company’s AI platform, which is designed to digitize and improve metal manufacturing operations. The firm believes AI can significantly transform shop-floor processes.
Lakshmi Iyer of Bajaj Alternates said that their investment reflects confidence in NowPurchase’s nationwide presence, global ambitions, and AI platform. Girish Jhunjhunwala noted the investment reflects confidence in technology-led efficiency and supply chain resilience, with a focus on supporting the company’s long-term growth.
To date, NowPurchase has raised approximately Rs 120 crore ($14.46 million) in total equity funding. In 2024, it secured $6 million through a combination of equity and debt financing, with Info Edge Ventures leading the round.
This funding arrives as investors increasingly support technology-driven B2B procurement and supply chain platforms within the manufacturing and metals sectors. Companies like Zetwerk, OfBusiness, and Metalbook have also garnered investor interest by utilizing digital platforms to streamline sourcing, financing, and production.
Zetwerk recently initiated its plans with a confidential filing to SEBI, while OfBusiness and Metalbook are developing full-stack models that integrate procurement, credit, logistics, and data-led manufacturing services.
With much of India’s industrial procurement still localized and manual, technology platforms offer significant potential to enhance transparency, price discovery, and supply chain reliability.