NowPurchase Secures Rs 80 Crore in Funding Led by Bajaj Finserv
NowPurchase, a marketplace for metal manufacturers, has raised Rs 80 crore in a new funding round led by Bajaj Finserv, with participation from existing backers Info Edge Ventures and Orios Venture Partners. The round, which also included individual investors and family offices, brings fresh growth capital for a business trying to modernise how metal manufacturers buy raw materials and manage production.
Details
The funding round, which took place in April 2026, included investments from Shikhar Raj, Real Ispat Group, Madhur Gupta of Lloyds Group, VC Grid, and Professor Kartik Hosanagar. With this latest infusion, NowPurchase has raised about Rs 120 crore ($14.46 million) in total equity funding to date. The company plans to use the funds to accelerate investment in R&D capabilities and scrap recycling infrastructure.
Company Background
Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase helps metal makers source scrap, alloys, and additives, while also running scrap processing centres and branded product lines. The company’s software layer, MetalCloud, uses connected sensors, or IoT, and computer vision to help factories digitise and optimise production.
Market Context
This investment comes at a time when investors are increasingly backing technology-led B2B procurement and supply chain platforms in manufacturing and metals. Companies such as Zetwerk, OfBusiness, and Metalbook have attracted investor interest by using digital platforms to streamline sourcing, financing, and production. The funding reflects confidence in technology-led efficiency and supply chain resilience, with a focus on supporting the company’s long-term growth.
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Source: YourStory