NowPurchase, an AI-enabled B2B platform for metal manufacturers, has raised ₹80 crore in a VC funding round led by Bajaj Finserv, with participation from InfoEdge Ventures and Orios Venture Partners. The round also attracted notable individual investors and family offices, including Shikhar Raj, Real Ispat Group, Madhur Gupta of Lloyds Group, VC Grid, and Professor Kartik Hosanagar.
Funding to Accelerate AI, Scrap Recycling, and Product Expansion
The fresh capital will support NowPurchase’s expansion strategy, focusing on strengthening its scrap recycling infrastructure, broadening its portfolio of branded alloys and additives, and scaling its AI-powered platform, MetalCloud. The company aims to enhance operational efficiency for metal manufacturers through digital transformation and advanced analytics.
AI-Powered Procurement Transforming Metal Manufacturing
Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase delivers a technology-driven procurement ecosystem that enables manufacturers to source high-quality raw materials such as scrap, alloys, and additives with transparency and reliability. Its differentiated model includes a network of scrap processing centers and branded product offerings.
MetalCloud, the company’s proprietary AI platform, leverages IoT and computer vision to help manufacturers digitize shop-floor operations, optimize production processes, and improve decision-making across the supply chain.
Leadership Commentary on Growth and Innovation
Naman Shah, Founder and CEO, highlighted that the partnership with Bajaj Finserv will accelerate investments in research and development as well as recycling infrastructure, enabling the company to drive innovation and deliver stronger value to customers. He emphasized NowPurchase’s growing pan-India presence and expanding global footprint as key growth drivers.
Co-founder Aakash Shah noted that the funding will fast-track the development of MetalCloud, positioning it as a transformative solution for shop-floor digitization in metal manufacturing.
Lakshmi Iyer, CEO of Bajaj Alternates, stated that NowPurchase’s AI capabilities and nationwide presence position it to significantly transform the metal manufacturing ecosystem. Girish Jhunjhunwala, Fund Manager for PE and VC Investments at Bajaj Alternates, added that the investment reflects strong confidence in technology-led efficiency across procurement and supply chains.
Total Funding and Future Outlook
With this latest round, NowPurchase has raised approximately ₹120 crore in total equity funding to date. The company plans to expand its geographic footprint while continuing to innovate across procurement, recycling, and AI-led manufacturing optimization.
RAJANI BABURAJAN
