NowPurchase an AI enabled B2B platform that helps metal manufacturers optimize production and procure raw materials, today announced the successful raise of 80 crores led by Bajaj Finserv, one of India’s largest and most diversified financial services groups, with participation from existing investors InfoEdge Ventures & Orios Venture Partners. The round also saw participation from prominent individual investors & family offices including Shikhar Raj, Real Ispat Group, Madhur Gupta (Promoter & Director of Lloyds Group), VC Grid, and Professor Kartik Hosanagar.
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Founding Team – NowPurchase
The newly raised capital will be strategically deployed to accelerate key growth initiatives, with NowPurchase focusing on strengthening its core offerings such as scrap recycling, expanding its portfolio of branded products, and scaling its AI-powered platform, MetalCloud.
NowPurchase, founded in 2017 by Naman Shah and Aakash Shah, with an initial investment of $300K from Nipha Group, offers an AI enabled procurement solution that enables metal manufacturers to source high-quality raw materials such as scrap, alloys, and additives in a transparent and reliable manner. The company differentiates through its network of scrap processing centers and branded products for alloys and additives. NowPurchase’s AI platform MetalCloud helps metal manufacturers digitize & optimize their production process leveraging IoT & Computer Vision.
Speaking on the announcement Naman Shah, Founder & CEO, NowPurchase said, “We are delighted to have Bajaj Finserv as a partner in our next phase of growth. This investment will accelerate our investment in R&D capabilities & scrap recycling infrastructure to drive innovation and create meaningful value for our customers. Backed by a strong pan-India presence and an expanding global footprint, NowPurchase is well-positioned to double down on its core operations and continue scaling with strong unit economics.”
Aakash Shah, Co-founder NowPurchase highlighted, “This funding will fast-track the growth of MetalCloud—our AI-powered platform built to digitize and optimize production in metal manufacturing. We believe AI can fundamentally transform shop-floor operations, and MetalCloud is positioned to lead that shift.”
Mrs. Lakshmi Iyer, CEO of Bajaj Alternates, said, “We are pleased to join hands at a defining moment in the growth journey of NowPurchase. The company’s strong nationwide pan-India presence, expanding global ambitions, and its AI-enabled platform, positions it well to transform the metal manufacturing ecosystem.”
Mr. Girish Jhunjhunwala, Fund Manager – PE and VC Investments at Bajaj Alternates, said, “This investment reflects our conviction in using technology to drive efficiency, innovation, and resilience across procurement, finance, and the company’s supply chain. We are committed to supporting NowPurchase’s scale-up journey and enabling long-term value creation.”
With this latest infusion, NowPurchase has raised approximately Rs. 120 crore (14.46 million USD) in total equity funding to date.
