B2B Marketplace NowPurchase Raises $2.4 Million In Seed Funding
NowPurchase, a Kolkata-based B2B procurement technology startup for the metal manufacturing industry, has raised $2.4 million in a seed funding round led by Orios and InfoEdge Ventures.
The funding round also saw participation from angel investor Neeraj Arora (former WhatsApp global business head and Co-founder HalloApp).
As per the Kolkata-based startup, the raised funds will be used towards expanding its procurement business by establishing a global supplier base and expanding into other parts of India. The startup will also use the funds to further strengthen the technology team to build out its procurement platform & expand the offering of its manufacturing intelligence software- MetalCloud.
NowPurchase | Production Driven Procurement
Founded by Naman Shah and Aakash Shah in 2017, NowPurchase offers a tech-enabled, production-driven procurement for metal manufacturing companies. The Kolkata-based procurement technology startup also provides the users with a WhatsApp bot to discover prices and stock in real-time.
Speaking about the development, Naman Shah, Founder and CEO of NowPurchase, said,
“The source and quality of raw materials has a significant impact on metal manufacturing efficiency. NowPurchase is a one-stop procurement platform for these raw materials, and we believe that efficient raw material sourcing can have a significant positive impact on the metal manufacturing industry.”
As per the startup, with its complete range of services and solutions, NowPurchase aspires to expand its geographic reach and become the ultimate procurement platform for all metal manufacturers.
NowPurchase has a dedicated technically-trained team to provide on-ground service, quality assurance and proprietary software-MetalCloud to optimize their manufacturing process.
Naman added,
“We are extremely excited to build a strong technology layer which provides dynamic insights to manufacturers to optimize their manufacturing process & suggest them the right raw materials depending on their end output, production technique & real-time supply chain situation.”
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