Metalbooka digital supply chain platform for the metals industry, raised $5 million in seed funding led by. The cycle also saw the participation of Fundamental, RTP Global, Stride Ventures and a few angel investors.
The delhiThe New York-based startup has received its export license and plans to expand to 12 other geographies with this fundraiser. It also plans to use the capital to strengthen its global network of data centers, build the team and improve its cloud factory platform.
Pulkit Baldev, co-founder, Metalbook, said,
“We are here to deliver a premium sourcing experience to the consumer in the most orthodox industry with low technology penetration. India is currently the second largest steel producer, Metalbook aims to enable and to extend the reach of Indian steel products to the whole world.
Nandan Venkatachalam, Director at Axilor Ventures who led the investment, commented,
“Full vertical platforms are the need of the hour for global supply chains. Metalbook’s platform helps the steel industry decentralize global supply and demand. India being the second largest steel producer, it is an excellent supply base for the company at the start of its global operations. The opportunity combined with the solid know-how of the Metalbook team on the segment were decisive factors in our investment.
According to Pulkit, “The international market itself is a $3 trillion opportunity that is ripe for disruption and we believe we should be able to successfully replicate our success achieved in India in other geographies.”
Founded in 2021Metalbook aims to digitize the global metal industry supply chain through its SaaS marketplace and cloud-based manufacturing platform.
The company said it works with more than 500 global metal manufacturers, dealers and suppliers across the value chain and currently serves more than 350 customers, providing them with a quality metal sourcing experience. superior. It also works with global steel players such as ArcelorMittal, Nippon Steel, Tata Steel, JSW, EU Metals, JSPL, etc., and several onboard client companies such as DLF, BL Kashyap, Bygging, etc. categories such as aluminum, zinc, etc.
Metalbook is co-founded by Pulkit Baldev, Aman Tibrewal, and Raghavendra Pratap Singhwho come with expertise in the field, having worked in companies such as Tata Steel, OfBusiness, JK Tyre, Uber, Loconav, Red Doorz, Oyo, etc.
Shubhankar Bhattacharya, General Partner at Fundamentalsaid,
“Steel supply chains represent a vast market that forms the backbone of manufacturing and infrastructure, especially at a time when access to raw materials has been disrupted around the world. We are delighted to support Raghavendra, Pulkit and Aman as they evolve Metalbook to become India’s largest steel marketplace.
Metalbook is currently doubling its QoQ revenue, profitably, and aims to achieve a run rate of over $100 million by FY24.