Metalbook, a digital supply chain platform for the metals industry, has raised $5 million in its seed funding round from Axilor Ventures.
Other angle investors including Foundamental, RTP Global, and Stride Ventures also participated in this round.
The startup plans to use the funds to strengthen its global network of processing centers, build teams, and develop its Cloud Factory platform. It has also received its export license and plans to expand to 12 other geographies with this fundraising.
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The Delhi-based Metalbook was founded in 2021 by Pulkit Baldev, Aman Tibrewal, and Raghavendra Pratap Singh, It aims to digitize the global supply chain for the metals industry through its SaaS-enabled marketplace and cloud manufacturing platform.
“We are here to provide a premium procurement experience to the consumer in the most orthodox industry having low tech penetration. India is currently the second largest steel producer, Metalbook aims to enable and expand the reach of Indian-make steel products to the whole world”, said, Pulkit Baldev, Co-founder, Metalbook.
“The international market is a $3 trillion opportunity in itself which is ripe for disruption and we believe that we should successfully be able to replicate our success achieved in India to other geographies” he added.
The startup said its platform works with over 500 global metal manufacturers, dealers and suppliers across the value chain and currently caters to over 350 customers, providing them with a premium metal buying experience.
The startup plans to expand into other metal categories like aluminium, zinc etc.
“Verticalised full-stack platforms are the need of the hour for global supply chains. Metalbook’s platform is helping the iron and steel industry decentralise global supply and demand. With India as the second largest producer of steel, this is a great supply base for the company to start with as it begins global operations. The opportunity combined with the Metalbook team’s strong domain know-how on the segment were deciding factors in our investment”, said, Nandan Venkatachalam, Principal at Axilor Ventures.
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Metalbook is a full-stack digital supply-chain platform that connects a global network of metal suppliers & consumers, and offers the best prices. It also provided fabrication and customization at the best prices in the market for metal related finished and semi finished goods. By connecting offline players, they are dedicated to building a universal marketplace that believes in quick and transparent transactions along with hassle free logistics enabling end-to-end procurement solutions for the customer.
Metalbook facilitates transactions, enables smart matchmaking, removes manual and tedious tasks with automation and saves time by making the whole process easy and accessible. It fulfills customers’ needs with on time delivery of raw materials, traceability, and competitive pricing while introducing customization of steel products as per their needs to the current traditional market.