Metalbook Bags $15 Mn To Bridge Supply Chain Gap Between Metal Suppliers, Consumers

Global metals supply chain startup Metalbook has raised $15 Mn (over INR 124 Cr) in a Series A funding round led by Rigel Capital, with participation from FJ Labs, as well as existing investors, Axilor Ventures, Foundamental, Stride Ventures, Trifecta Capital and others.

Founded in 2021 by Aman Tibrewal, Pulkit Baldev, and Raghavendra Pratap Singh, Metalbook is a SaaS B2B entity which helps SME customers through their entire metal manufacturing and procurement cycle, including buying, selling, excess inventory liquidation, customisation, logistics, financing, e-auctioning, scrap recycling, credit and project management solutions.

The startup aims to achieve an annualised revenue run rate of $200 Mn by the end of FY24. 

Metalbook said in a statement that it has been profitable and caters to over 1,000 customers across 450 markets. 

In addition to the funding, Metalbook also announced the launch of new business verticals, product categories and an application. 

Recently, the startup ventured into copper, aluminium, metal scrap and markets with an aim to build a global footprint of processing centres, recycling networks and mre than 1,000 suppliers across 80 geographies. 

In addition to managing the supply chain, the startup also provides credit facilities to registered suppliers on its platform as well.

Commenting on the industry and Metalbook’s vision, cofounder Raghavendra Pratap Singh, said, “We want to make sure that there is enough of a track record for market investors to look at before we plan for an initial public offer (IPO) in 4-5 years.”

The startup secured $5 Mn seed funding in 2022 which was led by Axilor Ventures. Back then, it said that it caters to clients across India, Bhutan, Nepal and Bangladesh, among others.

Currently, Metalbook claims to have a customer base which includes ArcelorMittal, Nippon Steel, Tata Steel, JSW, EU Metals, JSPL, DLF, BL Kashyap and Bygging, among others. 

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