What is NowPurchase?
Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase operates as a specialized procurement platform designed to streamline the supply chain for metal manufacturers. The company addresses long-standing inefficiencies in the industrial raw material market by providing a trusted, transparent digital interface for sourcing critical inputs. By bridging the gap between suppliers and manufacturers, NowPurchase facilitates a more efficient, data-backed procurement process that reduces volatility and improves quality control for its industrial clients. Its market position is defined by its focus on the B2B industrial segment, where it serves as a vital intermediary in the complex ecosystem of metal manufacturing and material distribution.
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
Orios Venture Partners
Orios Venture Partners is an early stage venture capital fund in India that focuses on backing innovators in the technology sector, providing strategic support to help startups navigate growth challenges.
Info Edge (India)
Info Edge (India) Limited is a leading online classifieds company in India, specializing in recruitment, real estate, and digital services, with a focus on sustainable growth and market expansion.
InfoEdge Ventures
InfoEdge Ventures is a prominent investment firm that focuses on early-stage technology companies, leveraging deep market expertise to foster long-term value creation.
What's next for NowPurchase?
With this major enterprise-level funding, NowPurchase is poised to accelerate its expansion strategy, focusing on deepening its supply chain integration and broadening its product catalog. The company is expected to invest in advanced logistics and inventory management technologies to further optimize the procurement experience for its growing user base. By scaling its digital infrastructure, NowPurchase aims to capture a larger share of the industrial procurement market, potentially setting new standards for transparency and efficiency in the sector. Future growth will likely involve strategic partnerships and the enhancement of its platform to support more complex industrial requirements, reinforcing its role as a cornerstone of the modern manufacturing supply chain.
See full NowPurchase company page
