NowPurchase, an AI-powered B2B procurement platform for the metal industry, has raised Rs 80 crore in its latest funding round. The investment comes from Bajaj Finserv, Madhur Gupta (Promoter & Director of Lloyds Group), VC Grid, and Professor Kartik Hosanagar.
Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase offers a technology-driven procurement solution that enables metal manufacturers to source high-quality raw materials such as scrap, alloys, and additives in a transparent and reliable manner.
About NowPurchase
NowPurchase is positioned as a next-generation procurement platform for the metal industry. Its mission is to digitize and optimize the way manufacturers source materials, making the process faster, smarter, and more transparent.
Key Differentiators
- Network of Scrap Processing Centers: NowPurchase leverages its physical network to ensure consistent quality and reliability for scrap material sourcing.
- Branded Products for Alloys and Additives: The platform provides standardized, branded materials, reducing variability and ensuring predictable manufacturing outcomes.
- AI Platform – MetalCloud: Its proprietary AI platform helps manufacturers digitize operations, optimize procurement, and improve production efficiency using IoT and Computer Vision technologies.
By combining technology with on-ground infrastructure, NowPurchase ensures that manufacturers get high-quality materials while reducing operational inefficiencies.
How NowPurchase’s Technology Works
The MetalCloud AI platform is the core of NowPurchase’s offering. It helps metal manufacturers in several ways:
- Smart Sourcing: Uses AI algorithms to recommend optimal raw material suppliers based on quality, pricing, and reliability.
- Production Optimization: IoT sensors and computer vision help monitor manufacturing processes, reducing waste and improving output.
- Transparency and Traceability: Every transaction and material batch is digitally tracked, providing real-time visibility and auditability.
- Outcome-Driven Procurement: Manufacturers can measure supplier performance and material quality, ensuring accountability across the supply chain.
This approach positions NowPurchase as more than just a marketplace, acting as a technology partner for manufacturers to enhance efficiency.
Why the Funding Matters
The Rs 80 crore investment will allow NowPurchase to:
- Expand Operations: Broaden its presence in India’s metal manufacturing hubs.
- Scale AI Capabilities: Enhance MetalCloud with new features for IoT integration, predictive analytics, and computer vision.
- Strengthen Supply Networks: Add more scrap processing centers and branded alloy products to meet growing demand.
- Boost Technology Infrastructure: Build tools for analytics, real-time monitoring, and self-serve procurement for clients.
Investors see strong potential in NowPurchase’s AI-driven B2B model, as it addresses inefficiencies in a traditionally fragmented and manual industry.
Market Potential
India’s metal manufacturing sector is a major contributor to the economy, with challenges including:
- Fragmented Supplier Base: Sourcing quality materials is often inconsistent.
- Manual Processes: Traditional procurement relies on paper-based systems and offline negotiation.
- Quality Variability: Scrap and raw materials vary significantly in quality, affecting production outcomes.
NowPurchase’s AI-driven solution addresses all of these challenges by digitizing the supply chain, improving transparency, and delivering predictable outcomes.
About the Investors
- Bajaj Finserv: A leading financial services firm investing in promising B2B and technology startups.
- Madhur Gupta: Promoter and Director of Lloyds Group, bringing industrial experience to support growth.
- VC Grid: Venture capital firm supporting early-stage technology startups.
- Professor Kartik Hosanagar: Technology and AI expert providing strategic guidance on AI deployment.
Their combined expertise and investment support positions NowPurchase for accelerated growth and innovation.
Future Plans
With this funding, NowPurchase aims to:
- Expand to more industrial regions across India.
- Integrate additional AI and IoT capabilities for end-to-end production monitoring.
- Build a more self-service platform that allows manufacturers to manage procurement digitally.
- Strengthen supplier partnerships to ensure consistent quality and availability.
These initiatives are designed to make the platform indispensable for metal manufacturers, driving adoption and long-term value.
NowPurchase is redefining how metal manufacturers source and manage raw materials. By combining AI, IoT, computer vision, and on-ground networks, the startup ensures transparent, efficient, and reliable procurement.
The Rs 80 crore funding from Bajaj Finserv and strategic investors positions NowPurchase to expand operations, enhance its technology platform, and continue revolutionizing India’s metal manufacturing supply chain.
With its AI-driven B2B approach, NowPurchase is not just simplifying procurement—it is building the future of industrial sourcing in India.
