What is NowPurchase?
NowPurchase, founded in 2017 by Naman Shah and Aakash Shah, operates as a procurement solution designed for metal manufacturers. The platform facilitates the acquisition of high-quality raw materials, including metal scrap, alloys, and additives, within a trusted and transparent framework. The company's focus on streamlining the procurement process for a critical industrial sector positions it for substantial growth.
How much funding has NowPurchase raised?
NowPurchase has raised a total of $30M across 2 funding rounds:
Angel/Seed
$24M
Other Financing Round
$6M
Angel/Seed (2022): $24M with participation from InfoEdge Ventures, Orios Venture Partners, and Neeraj Arora
Other Financing Round (2024): $6M led by Info Edge (India)
Key Investors in NowPurchase
Info Edge (India)
Info Edge (India) Limited is a leading online classifieds company in India, specializing in recruitment, matrimony, real estate, education, and related services. As one of the few profitable pure play internet companies in the country, it caters to a diverse clientele seeking various online services.
Orios Venture Partners
Orios Venture Partners is an early stage venture capital fund in India that focuses on backing innovators in the technology sector. The firm invests in startups across B2C, B2B, software, and hardware spaces, aiming to make 10 to 12 investments each year.
Neeraj Arora
Undisclosed investor participating in the funding round.
What's next for NowPurchase?
The recent major enterprise-level funding indicates a strategic pivot towards scaling NowPurchase's operations and expanding its market reach. This capital will likely be deployed to enhance its technological infrastructure, broaden its supplier network, and potentially explore new material categories. The company is poised to solidify its position as a key player in the industrial procurement landscape, leveraging this investment to drive innovation and operational efficiency.
See full NowPurchase company page
