SaaS Platform Metalbook raises $5 mn in seed funding from Axilor Ventures
- ByStartupStory | August 29, 2022
Metalbook, a digital supply chain platform for the metals industry, has raised $5 million in seed round of funding led by The round also saw participation from Foundamental, RTP Global, Stride Ventures and a few angel investors.
With this funding, the Delhi-based business will expand to 12 additional regions after receiving its exports licence. It also intends to use the funds to expand the workforce, improve the cloud factory platform, and fortify its global network of processing facilities.
Metalbook co-founder Pulkit Baldev stated, “We are here to give the consumer a premium purchasing experience in the most traditional industry with low tech penetration. India is currently the world’s second-largest producer of steel, and Metalbook seeks to increase the global accessibility of Indian steel products.
Axilor Ventures Principal Nandan Venkatachalam stated that “verticalized full-stack platforms are essential for modern global supply chains. The iron and steel sector is benefiting from decentralised global supply and demand thanks to Metalbook’s platform. India is the world’s second-largest producer of steel, making it a strong supply base from which to launch the company’s international activities. Our investment was determined by the opportunity and the Metalbook team’s excellent domain expertise in the area.
According to the company, it collaborates with over 500 worldwide metal manufacturers, distributors, and suppliers along the value chain. Metalbook intends to extend into other metal categories such as aluminium, zinc, and so on.
About Metalbook
Pulkit Baldev, Aman Tibrewal, and Raghavendra Pratap Singh are the co-founders of Metalbook. Founded in 2021, Metalbook’s cloud manufacturing platform and SaaS-enabled marketplace promise to digitise the world’s metal supply chain.
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