NowPurchase, a B2B marketplace for metal, has raised $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 Kolkata-based startup will use the new funds towards expanding its procurement business, strengthening its technology team, and expanding the offering of its manufacturing intelligence software MetalCloud.
Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase provides its users with a WhatsApp bot to discover prices and stock in real-time, a dedicated technically trained team to provide on-ground service and quality assurance, and a proprietary software-MetalCloud to optimize their manufacturing process.
The startup claims to have grown ten-fold since launching its platform for foundries in September 2020. In terms of customers, it has nearly 100 foundries on the platform, with 70 of them transacting monthly.