Metalbook

Key Highlights:

  • SaaS startup Metalbook focused on the metal industry has raised $5 Mn in its seed funding round led by Axilor Ventures.
  • The startup integrates the entire supply chain process, from manufacturing raw materials to delivering them to customers.
  • Metalbook offers its services across the globe including India, Bhutan, Nepal and Bangladesh, among others.

SaaS startup Metalbook focused on the metal industry has raised $5 Mn in its seed funding round led by Axilor Ventures.

The round even saw participation from Fundamental, RTP Global, Stride Ventures and some angel investors.

Metalbook plans to use these funds to expand its geographical footprint, strengthen its network of processing centres, grow its workforce and develop its platform.

The founder of startup Pulkit Baldev, said, In 2021, “India’s metal industry was estimated to be worth $6.79 Bn. Because the industry lacks digitisation, most transactions are carried out via email or WhatsApp. To procure metals, customers rely entirely on suppliers’ transparency.”

Metalbook was set up in 2021 by Baldev, Aman Tibrewal and Raghavendra Pratap Singh to enable digitisation and transparency in the country’s metal industry. It connects metal industry suppliers and customers. Even it helps customers to have a seamless metal procurement experience.

The startup integrates the entire supply chain process, from manufacturing raw materials to delivering them to customers.

Additionally, Baldev said, “The MetalBook platform provides the customer with a premium procurement experience, from raw materials to processing capabilities. A raw material order is delivered to the customer’s doorstep as per the agreed timeline once it has been placed.”

Metalbook offers its services across the globe including India, Bhutan, Nepal and Bangladesh, among others.

Currently, Metalbook deals in iron and steel products in the metal industry. Customers can choose from various options (supplies) once they request the type of iron and steel product they want. Additionally, the startup provides logistics and supply chain management services to customers. Also, registered suppliers have access to credit facilities through its platform.

The startup’s annualised revenue grew 5x in 2021-22, to over INR 100 Cr.

By 2024, the startup aims to generate an annualised run rate of more than $100 million. Shortly, it plans to launch the platform with two other metal categories, Aluminum and Zinc.

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