Startup Originals Team
AI-enabled B2B platform NowPurchase has raised ₹80 crore in a funding round led by Bajaj Finserv, with participation from existing investors Info Edge Ventures and Orios Venture Partners. The round also saw backing from prominent angel investors and family offices.
Building the Future of Metal Manufacturing with AI
Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase is transforming how metal manufacturers procure raw materials and manage production.
The platform enables manufacturers to source materials such as:
- Scrap
- Alloys
- Additives
…in a transparent, reliable, and data-driven manner.
MetalCloud: AI Meets Shop Floor
At the core of NowPurchase’s offering is MetalCloud, an AI-powered platform that uses:
- Artificial Intelligence
- IoT (Internet of Things)
- Computer Vision
…to help manufacturers digitise and optimise production processes.
The platform is designed to improve:
- Operational efficiency
- Cost control
- Production quality
What Makes NowPurchase Different
Unlike traditional procurement platforms, NowPurchase combines:
- A digital marketplace
- A network of scrap processing centres
- Branded alloy and additive products
This hybrid model allows the company to control both supply quality and pricing transparency, giving it a strong edge in the fragmented metal supply chain.
How the ₹80 Crore Will Be Used
The company plans to deploy the fresh capital across key growth areas:
- Expanding scrap recycling infrastructure
- Strengthening R&D capabilities
- Scaling the MetalCloud platform
- Growing its branded product portfolio
The focus is on building a deep, tech-enabled manufacturing ecosystem, not just a marketplace.
Investor Confidence in Industrial AI
According to Lakshmi Iyer, CEO of Bajaj Alternates, the investment reflects confidence in NowPurchase’s ability to transform the metal manufacturing ecosystem through AI.
Investors highlighted:
- Strong pan-India presence
- Growing global ambitions
- Scalable AI-led platform
Vision: Digitising India’s Manufacturing Backbone
CEO Naman Shah emphasised that the company is entering its next growth phase with a clear goal—creating meaningful value for manufacturers through technology and infrastructure.
Co-founder Aakash Shah added that AI will redefine shop-floor operations, and MetalCloud is positioned to lead this transformation.
What’s Next
With fresh funding and strong investor backing, NowPurchase is set to:
- Deepen its presence in India
- Expand globally
- Scale AI adoption in manufacturing
As India pushes toward becoming a global manufacturing hub, platforms like NowPurchase are emerging as critical enablers, bringing technology, transparency, and efficiency to one of the country’s most important industries.
