Metalbook, an India-based metal industry-focused SaaS startup, raised $5 million in seed funding.
The round was led by Axilor Ventures, with participation from Foundamental, RTP Global, Stride Ventures, and some angel investors.
The funds will be used to expand its geographical footprint, strengthen its network of processing centers, grow its workforce, and develop its platform.
Metalbook generated annualized revenue of more than INR 100 Cr in the fiscal year 2021-22. The startup also intends to have an annualized run rate of more than $100 million by the fiscal year 2024. It also plans to add other metal categories, such as aluminum and zinc, to its platform.
Company: Mbook Technology Private Limited
Raised: $5.0M
Round: Seed Round
Funding Month: Aug 2022
Lead Investors: Axilor Ventures
Additional Investors: Foundamental, RTP Global, and Stride Ventures
Company Website: https://www.metalbook.co.in/
Software Category: Digital Supply-Chain platform
About the Company: Founded in 2021 by Aman Tibrewal, Pulkit Baldev, and Raghavendra Pratap Singh, 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. 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.
Source: https://inc42.com/buzz/saas-platform-metalbook-secures-15-mn-to-help-businesses-enhance-metal-procurement-experience/