India-based B2B metal supply chain firm raises $15m series A

Metalbook co-founders (from left) Raghavendra Pratap Singh, Pulkit Baldev, and Aman Tibrewal / Photo credit: Metalbook

While some B2B ecommerce firms are struggling, others are thriving. India-based Metalbook, a B2B platform focused on the global metal supply chain, said it is eyeing US$200 million in annualized revenue run rate by the end of the 2024 fiscal year.

Founded in 2021, the startup has raised US$15 million in a series A round led by Rigel Capital. FJ Labs participated, as well as existing investors Axilor Ventures and Stride Ventures, among others.

Metalbook helps customers through their entire metal manufacturing and procurement cycle. This includes everything from buying and selling to customization, logistics, scrap recycling, as well as financing.

Raghavendra Pratap Singh, Pulkit Baldev, and Aman Tibrewal had co-founded the startup to create a full-stack digital supply-chain platform which would connect a global network of metal suppliers and consumers.

The company claimed to be profitable and caters to over 1,000 customers across 450 markets. It has added new categories such as copper, aluminum, and metal scrap to its already existing offerings.

“We want to make sure that there is enough of a track record for market investors to look at before we plan for an IPO in four to five years,” Singh said.

It previously secured US$5 million of seed funding in mid-2022.

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