Aditya Hadi Pratama · · 1 min readIndian metal procurement platform bags $5m seed money
Metalbook, an India-based marketplace that focuses on the metals industry, has raised US$5 million in seed funding led by Axilor Ventures, with participation from Foundamental, RTP Global, and Stride Ventures.
Metalbook co-founders (from left) Pulkit Baldev, Aman Tibrewal, and Raghavendra Pratap Singh / Photo credit: Metalbook
Founded in 2021, Metalbook connects customers with metal manufacturers. Currently, there are more than 500 metal manufacturers and over 350 customers on its platform.
The company said that its revenue in the last quarter has doubled compared to the previous quarter. It is focusing on the iron and steel sector – a US$3 trillion market globally – with expansion plans into the aluminum and zinc segment. India itself is the second-largest steel producer across the world.
Metalbook was established by Pulkit Baldev, Aman Tibrewal, and Raghavendra Pratap Sing. The co-founders previously worked at Tata Steel, JK Tyre, and Uber, respectively.
The firm plans to use the fresh funding to expand to 12 countries, strengthen its processing centers and platform, as well as hire more employees.
See also: These are the most active investors in India’s startups
Editing by Deepti Sri and Jaclyn Tiu
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