Overview
- NowPurchase, which announced the ₹80 crore round Wednesday, said it will invest in scrap recycling, expand its branded inputs, and grow its MetalCloud software.
- Bajaj Finserv led the raise, with Info Edge Ventures and Orios participating alongside investors such as Shikhar Raj, Real Ispat Group, Madhur Gupta, VC Grid and Professor Kartik Hosanagar.
- The startup runs a marketplace for scrap, alloys and additives, with MetalCloud using sensors and computer vision to guide melting and log shop‑floor data.
- It operates six warehouses and two scrap processing centers and plans new facilities in Jharkhand and Tamil Nadu within three to six months.
- The company says it has raised about ₹120 crore in equity to date and delivered roughly 1.95 lakh tonnes to more than 200 clients in a sector still dominated by offline, local buying.