Total amount raised
$23 Millions
Latest funding date
4/1/2024
Location
Metalbook has successfully raised funding through multiple rounds, including a recent debt financing round from Northern Arc. The platform connects a global network of metal suppliers and customers, offering comprehensive digital supply-chain solutions.
Keep reading to explore the intricacies of Metalbook's fundraising journey and the investors backing this innovative platform.
What Is Metalbook?
Metalbook, founded in 2021, is headquartered in Delhi, India. The company connects a global network of metal suppliers and customers through a comprehensive digital supply-chain platform. Metalbook employs between 101-250 people, offering services such as metal recycling, financing solutions, logistics solutions, supplier discovery, material tracking, and digital document management.
Although the founders' names are not explicitly mentioned, Metalbook's mission is to optimize the metal supply chain with advanced digital solutions. The platform aims to provide the cheapest prices and facilitate fabrication and modification for finished and semi-finished metal goods.
With a strong focus on sustainability and efficiency, Metalbook has become a trusted partner for over 2500 SMEs and enterprises. The company leverages Industry 4.0 technologies to build a stronger and more sustainable metal supply chain.
How Much Funding Has Metalbook Raised?
- Seed Round
- Amount Raised: $5M
- Date: August 2022
- Lead Investors: Axilor Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build upon the company's initial successes and further develop its platform and network.
- Series A Round
- Amount Raised: $15M
- Date: July 2023
- Lead Investors: Rigel Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth trajectory and help achieve an annualized revenue run rate of $200 million by the end of FY24.
- Series A Round
- Amount Raised: Not publicly disclosed
- Date: June 2023
- Lead Investors: FJ Labs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and expand the team.
- Debt Financing
- Amount Raised: ₹250M (approximately $3M)
- Date: April 2024
- Lead Investors: Northern Arc
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide the necessary resources for expanding operations, enhancing technological infrastructure, and solidifying market presence both domestically and internationally.
Total Amount Raised: $23M
Current Valuation: Not publicly disclosed
Key Investors
- Northern Arc
- Details: Northern Arc is a financial services company that provides structured debt solutions to businesses. They focus on meeting the diverse financial needs of their clients through innovative debt financing.
- Investment Focus Areas: Debt financing, structured finance, financial inclusion
- Notable Investments: Metalbook, Varthana, Veritas Finance
- Rigel Capital
- Details: Rigel Capital is a venture capital firm that led Metalbook's $15 million Series A round. They specialize in early to mid-stage investments, helping companies scale their operations.
- Investment Focus Areas: Technology, healthcare, consumer goods
- Notable Investments: Metalbook, HealthifyMe, UrbanClap
- FJ Labs
- Details: FJ Labs is a venture capital firm known for investing in early-stage startups. They participated in Metalbook's Series A round to help scale its operations.
- Investment Focus Areas: Marketplaces, e-commerce, fintech
- Notable Investments: Metalbook, Alibaba, Rappi
- Axilor Ventures
- Details: Axilor Ventures is an early-stage venture capital firm that led Metalbook's $5 million seed round. They focus on accelerating the growth of startups through funding and mentorship.
- Investment Focus Areas: Technology, healthcare, agritech
- Notable Investments: Metalbook, FreshToHome, Portea Medical
What's Next for Metalbook?
Metalbook stands at the cusp of significant growth, driven by its comprehensive platform that caters to procurement, logistics, and credit needs. With a network spanning 16 countries and partnerships with over 500 suppliers, the company is poised to reach an annualized revenue run rate of $200 million by the end of FY24. This ambitious target underscores the vast opportunities available in the metal supply chain industry, particularly as digitalization and full-stack solutions gain traction.
Future fundraising efforts are likely, given the recent successful rounds. These funds will be crucial for expanding operations and enhancing technological infrastructure. However, challenges such as managing operational costs, navigating competitive pressures, and ensuring scalability remain. As Metalbook continues to grow, strategic acquisitions and further investment rounds could be on the horizon, solidifying its market presence both domestically and internationally.
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