NowPurchase Raises $2.4 Million from InfoEdge Ventures

NowPurchase has raised $2.4 million in the seed funding round led by Orios Ventures Partners and InfoEdge Ventures along with the participation of angel investor Neeraj Arora. 

The company will deploy the funds to expand its procurement business by establishing a global supplier base to expand its business into other parts of India. It will also use the funds to strengthen the technology team to build out its procurement platform and expand the manufacturing intelligence software, MetalCould.

NowPurchase provides a WhatsApp bot to its users in order to discover prices and stock in real-time. It has a dedicated technically trained team that provides on-ground and quality assurance and proprietary software, MetalCoud for the optimisation of its manufacturing process.

NowPurchase has grown ten-fold since the launch of its platform. The company has around 100 foundries on its platform. Its team consist of 35 people and plans to grow its business & product teams his year. 

Founded in 2017 by Naman Shah, NowPurchase has an initial investment of $300k from Nipha Group. Arindam Basu and Sonal Biyani of Basic Roots Consulting acted as the financial advisor for the transaction.