NowPurchase, an AI-enabled B2B platform for metal manufacturers, has raised ₹80 crore in a new funding round led by Bajaj Finserv. The round also saw participation from existing investors InfoEdge Ventures and Orios Venture Partners, along with several prominent individual investors and family offices including Shikhar Raj, Real Ispat Group, Madhur Gupta (Lloyds Group), VC Grid, and Professor Kartik Hosanagar.
Funding to Accelerate Growth and Platform Expansion
The newly raised capital will be used to drive key growth initiatives across the business. NowPurchase plans to expand its scrap recycling operations, strengthen its portfolio of branded alloy and additive products, and scale its AI-powered platform, MetalCloud. The company aims to enhance its digital capabilities while deepening its presence in India’s metal manufacturing ecosystem.
AI-Driven Procurement and Production Optimization
Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase offers an AI-enabled procurement solution that enables manufacturers to source raw materials such as scrap, alloys, and additives in a transparent and efficient manner. The platform differentiates itself through its integrated network of scrap processing centers and branded product offerings.
MetalCloud Platform Powers Smart Manufacturing
At the core of NowPurchase’s offering is MetalCloud, an AI-driven platform that helps metal manufacturers digitize and optimize their production processes. By leveraging technologies such as IoT and computer vision, MetalCloud provides insights that improve operational efficiency, reduce waste, and enhance productivity.
Building a Strong Funding Track Record
With this latest investment, NowPurchase has raised approximately ₹120 crore (around USD 14.46 million) in total equity funding to date. The company continues to position itself as a key player in India’s industrial tech space, combining AI, supply chain optimization, and manufacturing intelligence.
Strengthening India’s Metal Manufacturing Ecosystem
The funding reflects growing investor confidence in AI-led industrial platforms that bring efficiency and transparency to traditional sectors. With backing from Bajaj Finserv and other investors, NowPurchase is set to expand its capabilities and play a larger role in transforming India’s metal manufacturing and procurement landscape.
Leadership Quotes
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.”
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