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Funding Alert

  • Bymridul     |    February 15, 2024

Metalbook, a platform facilitating the global metals supply chain, has secured $15 million in its Series A funding round, led by Rigel Capital. Participating in the funding are FJ Labs and existing investors Axilor Ventures, Foundamental, Stride Ventures, Trifecta Capital, among others.

Previously, Axilor Ventures led a $5 million seed round for Metalbook in August last year. The company aims to enhance its impact on manufacturing and infrastructure supply chains, metal sourcing, logistics, and financing solutions for large-scale global projects, as stated in a press release.

Established in 2021, Metalbook assists enterprise and SME customers throughout their metal manufacturing and procurement cycle, offering services such as buying, selling, excess inventory liquidation, customization, logistics, financing, e-auctioning, scrap recycling, credit, and project management solutions.

Raghavendra Pratap Singh, Metalbook’s co-founder, expressed, “…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.”

Based in Delhi, Metalbook collaborates with over 500 global metal manufacturers, dealers, and suppliers, serving more than 1,000 customers. It partners with prominent steel companies like ArcelorMittal Nippon Steel, Tata Steel, JSW, EU Metals, JSPL, and various enterprise customers such as DLF, BL Kashyap, Bygging, among others.

Recently expanding into categories like Copper, Aluminium, and metal scrap, Metalbook has developed a global footprint with processing centers and over 1,000 suppliers across 80 geographies.

The company projects to achieve an annualized revenue run rate of $200 million by the end of FY24, demonstrating growth exceeding 15 times in the past two years.

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