Axilor Ventures, Foundamental, Stride Ventures, Trifecta Capital, and other current investors have joined Metalbook, in its $15 million Series A investment round. This round was led by Rigel Capital.
Last year, Metalbook, a platform for the global metals supply chain, raised $5 million led by Axilor ventures.
According to a press statement from the firm, Metalbook is set to have a greater impact on large-scale global project funding, transportation, metal sourcing, and supply chains for manufacturing and infrastructure.
Metalbook was established in 2021 and assists large and small businesses with all aspects of the metal manufacturing and procurement cycle. This includes financing, e-auctioning, scrap recycling, project management, customizing, buying, selling, excess inventory liquidation, and shipping.
“We want to make sure that there is enough of a track record for market investors to look at before we plan for an Initial Public Offer (IPO) in 4-5 years.”
Raghavendra Pratap Singh, co-founder
The Delhi-based business says it presently serves over 1,000 clients and collaborates with over 500 international metal manufacturers, dealers, and suppliers along the value chain.
The company serves a number of enterprise clients, including DLF, BL Kashyap, Bygging, etc., in addition to working with major global steel players including ArcelorMittal Nippon Steel, Tata Steel, JSW, EU Metals, JSPL, et al.
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15/02/2024
