NowPurchase Raises $6 Million in Equity and Debt Round Led by Info Edge Ventures

In a significant development, NowPurchase, a cutting-edge SaaS-enabled marketplace for metal manufacturers, has secured $6 million in equity and debt funding led by Info Edge Ventures. Additionally, Orios Ventures Partners, 100 Unicorns, VC Grid, and prominent family offices and angel investors such as Dholakia Ventures, Real Ispat Group, Subhrakant Panda, Ankur Warikoo, Kedar Lele, Capsave Finance, and UC Inclusive participated in the round.

With this latest investment, the total funding raised by NowPurchase stands at $10 million. The company plans to utilize the proceeds from this round to further expand its operations and roll out innovative solutions to cater to the metal manufacturing industry.

NowPurchase’s platform allows metal manufacturers to procure raw materials through its scrap recycling services and metal cloud platform. The platform also offers a range of features, including real-time price discovery and stock availability via a WhatsApp bot, on-ground services, quality assurance, and a proprietary SaaS platform to optimize manufacturing processes.

Key Highlights of the Funding Round:

• Info Edge Ventures led the equity and debt round with a total investment of $6 million
• Orios Ventures Partners, 100 Unicorns, VC Grid, and family offices, as well as angel investors, participated in the round
• The total funds raised by NowPurchase now stand at $10 million
• The funds will be used for expansion, new solutions, and integration of AI and MetalCloud as the foundational operating system for metal manufacturing

About NowPurchase:

NowPurchase is a SaaS-enabled marketplace for metal manufacturers that was founded in 2017 by Naman Shah and Aakash Shah. The company serves over 250 factories across the metal supply chain, including major corporations such as Titagarh Rail Systems Limited, Brakes India, and many more. It aims to revolutionize the metal manufacturing industry by providing a platform for raw material procurement, quality assurance, and process optimization.

This funding round demonstrates the growth potential of NowPurchase and its innovative approach to the metal manufacturing industry. With this injection of capital, the company is well-positioned for further expansion and will look to continue serving the metal manufacturing market.