Metalbook, a platform serving the global metals supply chain, has successfully raised $15 million in its Series A funding round. The round was led by Rigel Capital, with participation from FJ Labs, as well as existing investors including Axilor Ventures, Foundamental, Stride Ventures, Trifecta Capital, and others. Axilor Ventures had previously led a $5 million seed round for Metalbook in August of the previous year.
In a press release, Metalbook expressed its intention to expand its impact on manufacturing and infrastructure supply chains, metal sourcing, logistics, and financing solutions for large-scale global projects. Founded in 2021, Metalbook offers comprehensive services to enterprise and SME customers throughout their metal manufacturing and procurement cycle. These services include buying, selling, excess inventory liquidation, customization, logistics, financing, e-auctioning, scrap recycling, credit, and project management solutions.
“Ensuring there is a robust track record for market investors to assess, we plan for an Initial Public Offer (IPO) in 4-5 years,” stated Raghavendra Pratap Singh, co-founder of Metalbook.
Based in Delhi, the startup boasts collaborations with over 500 global metal manufacturers, dealers, and suppliers throughout the value chain, currently serving more than 1,000 customers. Metalbook collaborates with prominent steel industry players such as ArcelorMittal Nippon Steel, Tata Steel, JSW, EU Metals, JSPL, among others, along with enterprise clients like DLF, BL Kashyap, Bygging, and more.
The company has recently expanded into new categories including Copper, Aluminium, and metal scrap, establishing a global presence with processing centers and over 1,000 suppliers spanning across 80 geographies.
By the conclusion of FY24, Metalbook is projected to reach an annualized revenue run rate of $200 million, marking a growth of more than 15 times over the past two years.
