Press Release

Metalbook raises $5M in seed funding led by Axilor Ventures

Metalbook, a digital supply chain platform for the metals industry has raised $5M in seed funding led by Axilor Ventures. The round also saw participation from Foundamental, RTP Global, Stride Ventures and a few Angel Investors. Founded in 2021, Metalbook aims at digitizing the global supply chain for the metal industry through its SaaS-enabled marketplace and cloud manufacturing platform.

The company works with over 500 global Metal manufacturers, dealers and suppliers across the value chain and currently caters to over 350+ customers, providing them with a premium metal procurement experience. They work with global steel players such Arcelor Mittal Nippon Steel, Tata Steel, JSW, EU Metals, JSPL, etc and several enterprise customers onboard such as DLF, BL Kashyap, Bygging, etc. Metalbook currently caters to the $3Trillion global Iron & Steel Market and has plans to expand to other metal categories such as Aluminium, Zinc, etc.

Metalbook is co-founded by Pulkit Baldev, Aman Tibrewal, & Raghavendra Pratap Singh, who come in with strong domain expertise, having worked at companies such as Tata Steel, OfBusiness, JK Tyre, Uber, Loconav, Red Doorz, Oyo, etc.

Speaking on the fundraise announcement, Pulkit Baldev, Co-founder Metalbook said, “We are here to provide a premium procurement experience to the consumer in the most orthodox industry having low tech penetration. India is currently the second largest steel producer, Metalbook aims to enable and expand the reach of Indian-make steel products to the whole world.”

Nandan Venkatachalam, Principal at Axilor Ventures, who led the investment commented, “Verticalized full-stack platforms are the need of the hour for global supply chains. Metalbook’s platform is helping the iron and steel industry decentralize global supply and demand. With India as the 2nd largest producer of Steel, this is a great supply base for the company to start with as it begins global operations. The opportunity combined with the Metalbook team’s strong domain know-how on the segment were deciding factors in our investment.”

As per Pulkit, “The international market is a $3T opportunity in itself which is ripe for disruption and we believe that we should successfully be able to replicate our success achieved in India to other geographies.”

Shubhankar Bhattacharya, General Partner at Foundamental, said “Steel supply chains represent a large market that forms the backbone of manufacturing and infrastructure, especially at a time when commodity  access has been upended across the world. We are thrilled to be backing Raghavendra, Pulkit and Aman as they scale Metalbook to become India’s largest marketplace for steel.

Metalbook is currently doubling its top-line Q-o-Q, profitably, and aims to reach a $100M + run rate by FY24. The company has also received its exports license and has plans to scale to 12 other geographies with this fund raise. The company also plans to use this fund raise to strengthen its global network of processing centres, build the team and enhance the it’s cloud factory platform.

About Metalbook

Metalbook, a digital supply chain platform for the global metal industry, enabling transparent & hassle free metal procurement experience for the consumers. The platform also provides custom processing solutions to customers through its network of cloud based processing centres.

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