NowPurchase

About NowPurchase

NowPurchase, founded in 2017 by Naman Shah and Aakash Shah, operates as a procurement platform for the metal manufacturing industry. The company aims to organize the fragmented and opaque industrial supply chain for foundries, steel plants, and other metal manufacturers. Naman Shah, an alumnus of NIT Trichy, and Aakash Shah, a graduate of SRM University, both brought their engineering backgrounds and prior startup experience to the venture. Naman previously co-founded a fintech startup, while Aakash had experience in his family's manufacturing business, providing him with firsthand insight into the procurement challenges faced by the sector.

The core of NowPurchase's offering is a technology-driven platform that simplifies the procurement of raw materials, consumables, and equipment for metal manufacturers. The platform provides real-time price discovery, quality assurance, and efficient logistics, addressing key pain points such as price volatility and inconsistent material quality. It leverages WhatsApp for communication, making it accessible and easy for manufacturers to place orders and track deliveries. In addition to procurement, the company has expanded its services to include a proprietary manufacturing intelligence application called MetalCloud. This application helps foundries optimize their operations by recommending the ideal combination of raw materials to produce a specific quality of output at the lowest possible cost, effectively acting as a digital metallurgist.

The business model revolves around a B2B marketplace structure, where NowPurchase acts as an intermediary, streamlining the supply chain from vendors to manufacturers. The company serves clients across India and has a significant presence in West Bengal. NowPurchase has successfully secured funding to fuel its growth, including a $2.4 million seed round in 2021 led by Orios Venture Partners and a subsequent pre-Series A round. These financial infusions have been directed towards expanding its procurement offerings, scaling the MetalCloud application, and growing its team.