NowPurchase Raises ₹80 Crores Led by Bajaj Finserv to Scale Metal Manufacturing AI

NowPurchase, an AI-driven B2B marketplace for the metal industry, has raised ₹80 crores in a funding round led by Bajaj Finserv. The round included participation from existing investors InfoEdge Ventures and Orios Venture Partners, along with several high-profile family offices. This latest infusion brings the company's total equity funding to approximately ₹120 crores to date.

Founded in 2017 by Naman Shah and Aakash Shah, the Kolkata-based startup focuses on helping metal manufacturers optimize production and procure raw materials. The new capital will be strategically deployed to expand scrap recycling infrastructure and scale the company's proprietary AI platform, MetalCloud. This software uses IoT and computer vision to digitize shop-floor operations for foundries.

CEO Naman Shah noted that the partnership with Bajaj Finserv marks a defining moment for the company's next growth phase. He emphasized that the investment will accelerate research and development capabilities while driving innovation in the scrap metal supply chain. The firm aims to create meaningful value for customers by ensuring transparent and reliable material sourcing.

MetalCloud stands at the center of the company’s technological strategy, offering 95% accuracy in production suggestions. Co-founder Aakash Shah believes that AI can fundamentally transform traditional manufacturing environments by reducing operational costs and defects. The platform acts as a digital operating system for factories that have historically lacked sophisticated data integration.

Bajaj Alternates expressed confidence in the venture, highlighting the startup's nationwide presence and global ambitions. CEO Lakshmi Iyer stated that NowPurchase is well-positioned to transform the metal manufacturing ecosystem through its integrated technology approach. The investment reflects a broader conviction in using digital tools to drive efficiency across complex industrial supply chains. Beyond software, NowPurchase maintains a physical presence through its own network of scrap processing centers and branded alloy products. By controlling the supply chain, the company bypasses fragmented vendor networks that often lead to inconsistent quality. This vertical integration provides a competitive moat against more horizontal B2B e-commerce competitors in the Indian market.