VC Fund Investments
B2B marketplace for metals NowPurchase raises $2.4 M from Orios VP, InfoEdge, others
NowPurchase, a Kolkata-based B2B marketplace for metals, has raised USD 2.4 million in a seed round led by Orios and InfoEdge Ventures. Angel investor Neeraj Arora (ex-WhatsApp global business head & co-founder HalloApp) also participated in the round. The startup will use the new funds towards expanding procurement, strengthen its technology team and expand the offering of its manufacturing intelligence software MetalCloud. Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase provides users with a WhatsApp bot to discover prices and stock in real time, a dedicated team to provide on-ground service and quality assurance, and a proprietary software-MetalCloud to optimize their manufacturing process. The startup claims to have nearly 100 foundries on the platform, with 70 of them transacting monthly.
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