NowPurchase, an AI-driven B2B platform assisting metal manufacturers in optimizing production and sourcing raw materials, today revealed a successful funding round of 80 crores led by Bajaj Finserv, one of India’s largest and most varied financial services firms, with contributions from existing investors InfoEdge Ventures and Orios Venture Partners.

The funding round included notable individual investors and family offices such as Shikhar Raj, Real Ispat Group, Madhur Gupta (Promoter & Director of Lloyds Group), VC Grid, and Professor Kartik Hosanagar.

The recently acquired funds will be strategically utilized to boost essential growth initiatives, with NowPurchase concentrating on enhancing its primary services like scrap recycling, broadening its range of branded products, and expanding its AI-driven platform, MetalCloud.

NowPurchase, established in 2017 by Naman Shah and Aakash Shah, received an initial funding of $300K from Nipha Group and provides an AI-powered procurement solution that allows metal manufacturers to source quality raw materials like scrap, alloys, and additives transparently and reliably. The business sets itself apart with its network of recycling facilities and name-brand products for alloys and additives. NowPurchase’s AI platform MetalCloud assists metal manufacturers in digitizing and enhancing their production processes by utilizing IoT and Computer Vision.

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Naman Shah, Founder & CEO, NowPurchase says, “We are delighted to have Bajaj Finserv as a partner in our next phase of growth. This investment will accelerate our investment in R&D capabilities & scrap recycling infrastructure to drive innovation and create meaningful value for our customers. Backed by a strong pan-India presence and an expanding global footprint, NowPurchase is well-positioned to double down on its core operations and continue scaling with strong unit economics”.

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Aakash Shah, Co-founder NowPurchase says, “This 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."

Lakshmi Iyer, CEO of Bajaj Alternates says, “We are pleased to join hands at a defining moment in the growth journey of NowPurchase. The company’s strong nationwide pan-India presence, expanding global ambitions, and its AI-enabled platform, positions it well to transform the metal manufacturing ecosystem.”

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Girish Jhunjhunwala, Fund Manager – PE and VC Investments at Bajaj Alternates says, “This investment reflects our conviction in using technology to drive efficiency, innovation, and resilience across procurement, finance, and the company’s supply chain. We are committed to supporting NowPurchase’s scale-up journey and enabling long-term value creation.”