Digital supply chain platform Metalbook raises $15M in a Series A round

Metalbook, a digital supply chain platform for the global metal industry, has raised $15 million in a Series A funding round led by Rigel Capital. The round also saw participation from Venture fund FJ Labs, Axilor Ventures, Foundamental, Stride Ventures, and Trifecta Capital.

What does Metalbook do?

Founded in 2021, Metalbook helps enterprise & SME customers through their entire metal manufacturing & procurement cycle, including buying, selling, excess inventory liquidation, customization, logistics, financing, e-auctioning, scrap recycling, credit & project management solutions.

Pulkit Baldev, Aman Tibrewal and Raghavendra Pratap Singh are the founders of the Metalbook.

Deepening impact on supply chains

With this round of funding, Metalbook will focus on deepening its impact on the manufacturing and infrastructure supply chains playing a pivotal role in streamlining both ferrous and non-ferrous metal sourcing, logistics, and financing solutions for large-scale global projects.

“Our expanded global footprint and entry into new metal categories exemplifies our commitment to serving a diverse range of industries. As we look to the future, we feel that our solid foundation of integrity, innovation, customer centric approach and sustainability will enable us to achieve growth and profitability at scale," said Raghavendra Pratap Singh, Co-founder, Metalbook.

"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," he added.

Metalbook growth

According to the company's statement, Metalbook expects to achieve an annualized revenue run rate of $200 million by the end of FY24.

Notably, The startup claims to have been profitable and caters to over 1,000+ customers across 450 markets. It has recently launched new categories across Copper, Aluminium, and Metal Scrap and has built out a global footprint of processing centres, recycling networks and 1,000+ suppliers across 80 geographies.