Add Product 
B2B metal procurement startup NowPurchase has raised $8.6 million — approximately Rs 80 crore — in a fresh funding round led by financial services giant Bajaj Finserv. The round also saw participation from existing backers Info Edge Ventures and Orios Venture Partners, alongside a set of individual investors and family offices. The capital will be deployed to expand the company’s scrap recycling infrastructure, grow its branded product portfolio, and advance MetalCloud, its proprietary AI-powered platform for metal manufacturers.
What Is NowPurchase? Understanding the B2B Metal Procurement Model
NowPurchase is a Kolkata-based B2B metal procurement platform founded in 2017 by Naman Shah and Aakash Shah. The company was built to solve a persistent problem in the Indian metals industry — fragmented, opaque, and inefficient raw material sourcing for small and mid-sized manufacturers.
Through its platform, NowPurchase enables metal manufacturers to procure essential raw materials such as scrap, ferroalloys, and additives from verified suppliers. By aggregating supply and digitising transactions, the platform removes the friction and information asymmetry that has historically defined industrial raw material sourcing in India.
Beyond procurement, the company operates a physical network of scrap processing centres that standardise and grade metal scrap before it reaches manufacturers. It also offers a range of branded products — an increasingly important revenue stream as the company diversifies beyond pure marketplace transactions.
Bajaj Finserv Leads $8.6 Mn Round as NowPurchase Total Funding Crosses $18 Mn
The latest funding round brings NowPurchase’s total capital raised to approximately $18 million. The company’s previous round, closed in September 2024, had raised $6 million in a combination of equity and debt led by Info Edge Ventures — the venture capital arm of Info Edge India, the parent company of Naukri.com and Jeevansathi.com.
Bajaj Finserv’s participation as lead investor in the new round is a notable signal. As one of India’s largest diversified financial services conglomerates, Bajaj Finserv’s entry into NowPurchase’s cap table indicates growing institutional interest in industrial B2B platforms operating at the intersection of fintech, supply chain, and manufacturing technology.
Other investors in the current round include Shikhar Raj, Real Ispat Group, Madhur Gupta of Lloyds Group, VC Grid, and Kartik Hosanagar — a mix of strategic industry participants from the metals sector and institutional backers.
How NowPurchase Plans to Deploy the $8.6 Mn Capital
NowPurchase has outlined three core areas for deploying the raised capital. First, the company will expand its scrap recycling infrastructure — a critical part of the supply chain that affects the quality and consistency of raw materials reaching manufacturers. Second, it plans to scale its branded product portfolio, adding margin-rich proprietary products to complement marketplace revenues. Third, and perhaps most strategically, the funds will be used to strengthen MetalCloud, its AI platform.
MetalCloud AI Platform Brings IoT and Computer Vision to Metal Manufacturers
MetalCloud is NowPurchase’s flagship technology offering and sits at the heart of its long-term differentiation strategy. The platform integrates IoT sensors with computer vision technology to give metal manufacturers real-time visibility and control over their production processes.
For a sector that has historically operated on manual processes and paper-based records, MetalCloud represents a significant shift. The platform allows manufacturers to monitor furnace operations, track raw material consumption, and optimise charge mix decisions — all in real time. This directly reduces material waste, energy consumption, and production downtime.
By combining procurement with production intelligence, NowPurchase positions MetalCloud as an end-to-end operating system for metal manufacturers — not just a buying tool but a platform that touches every stage of the manufacturing workflow.
NowPurchase Competes with JSW One MSME, OfBusiness, and Metalbook in India’s Growing B2B Metals Market
NowPurchase operates in a competitive but nascent segment of India’s industrial B2B market. Its direct competitors include JSW One MSME, the digital procurement arm of the JSW Group, which brings the weight of one of India’s largest steel conglomerates to the space. OfBusiness, a larger and more diversified B2B raw material platform, also operates across metals and industrial inputs and has achieved unicorn status. Metalbook is a more focused rival targeting similar buyers in the metals supply chain.
Despite the competition, NowPurchase’s differentiated positioning lies in its combination of physical infrastructure — the scrap processing centres — and a software layer through MetalCloud that neither pure marketplace competitors nor large conglomerate-backed platforms have fully replicated for the foundry and casting segment.
India’s metal manufacturing sector, particularly the MSME segment, remains significantly underserved by digital procurement solutions. As input costs rise and margins tighten, the demand for platforms that offer price transparency, quality assurance, and production efficiency is expected to accelerate. NowPurchase’s Bajaj Finserv-backed round positions the company to capture a larger share of this market through expanded infrastructure and a stronger technology platform.
For more coverage on Indian B2B startup funding rounds and industrial tech, visit KnowStartup.
Linkedin 
Zerodha Launches Fixed Deposits on Coin App, Offers Up to 8% Annual Returns
Zerodha, India's largest discount broker, has launched fixed deposits (FDs) on its Coin investment platform as of April 9, 2026. The feature allows users to compare FD rates across partner banks, book deposits digitally, and track invested amount, accrued interest,...
ClayCo Raises Rs 34.59 Crore Series A as Revenue Jumps 14x to Rs 72 Crore
Mumbai-based skincare brand ClayCo has raised Rs 34.59 crore — approximately $4.1 million — in a Series A funding round led by Twenty-Nine Capital Partners Ventures Ltd. ICMG Global Ventures II Pte. Ltd. participated in the round, marking a significant...
KreditBee Raises $280 Million in Series E, Becomes India’s Newest Unicorn at $1.5 Billion Valuation
Bengaluru-based digital lending platform KreditBee has raised $280 million in a Series E funding round, valuing the company at $1.5 billion. Announced on April 8, 2026, the round marks KreditBee's entry into India's unicorn club and positions it as one...