NowPurchase Funding News: NowPurchase, an AI-enabled B2B firm, has secured fresh funding. In a press release, NowPurchase said that it has raised funds to the tune of Rs 80 crore. The funding round was led by Bajaj Finserv.
NowPurchase said that it will utilise funds to scale up its platform and offerings.
NowPurchase Funding News: CEO Naman Shah Speaks
NowPurchase founder and CEO Naman Shah said that the fresh investment will accelerate the company's investment in research and development capabilities and scrap recycling infrastructure to drive innovation and create meaningful value for our customers.
NowPurchase Funding News: Update
The funding round saw participation from existing investors, InfoEdge Ventures and Orios Venture Partners, along with individual investors and family offices including Shikhar Raj, Real Ispat Group, Madhur Gupta (Promoter & Director of Lloyds Group), VC Grid, and Professor Kartik Hosanagar.
NowPurchase said that it has plans to accelerate key growth initiatives in line with its focus on strengthening core offerings such as scrap recycling, expanding its portfolio of branded products, and scaling AI-powered platform MetalCloud.
NowPurchase Funding News: About
NowPurchase was founded in 2017 by Naman Shah and Aakash Shah.
Nowpurchase offers an AI enabled procurement solution that enables metal manufacturers to source high-quality raw materials such as scrap, alloys, and additives in a transparent and reliable manner.
NowPurchase Funding News: Aakash Shah Speaks
NowPurchase Co-founder Aakash Shah said that the 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," he said.
