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Metalbook Secures $15 Million in Series A Funding Round

Metalbook, a prominent platform facilitating the global metals supply chain, has successfully raised $15 million in its Series A funding round, spearheaded by Rigel Capital. Notable participation also came from FJ Labs and existing investors such as Axilor Ventures, Foundamental, Stride Ventures, Trifecta Capital, among others.

This funding marks a significant milestone for Metalbook, following a $5 million seed round led by Axilor Ventures in August of the previous year. The company aims to bolster its impact on various sectors including manufacturing, infrastructure, metal sourcing, logistics, and financing solutions for large-scale global projects, as stated in a recent press release.


Established in 2021, Metalbook offers comprehensive solutions to enterprise and SME customers throughout the metal manufacturing and procurement cycle. Its services encompass buying, selling, excess inventory liquidation, customization, logistics, financing, e-auctioning, scrap recycling, credit, and project management solutions.


Co-founder of Metalbook, Raghavendra Pratap Singh, emphasized the importance of establishing a robust track record for market investors before considering an Initial Public Offer (IPO) in the next 4-5 years.


Headquartered in Delhi, Metalbook boasts collaboration with over 500 global metal manufacturers, dealers, and suppliers, catering to a clientele exceeding 1,000 customers. Notable partnerships include industry giants like ArcelorMittal Nippon Steel, Tata Steel, JSW, and EU Metals, alongside enterprise customers such as DLF, BL Kashyap, and Bygging.


Expanding its offerings into new categories such as Copper, Aluminium, and metal scrap, Metalbook has also expanded its global footprint with processing centers and a network of over 1,000 suppliers across 80 geographies.


With substantial growth momentum, Metalbook aims to achieve an annualized revenue run rate of $200 million by the conclusion of FY24, marking a remarkable growth of over 15 times in the past two years.



 

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