Rigel Capital leads investment into Metalbook as part of US$15 Million Series A

Rigel Capital
Ops Team
February 16, 2024
Uncategorized

In company's commitment to its foundational values and its ambitious growth plans hint at a promising future, making Metalbook a company to watch in the years15 million in a Series A funding round. The round was led by Rigel Capital and saw participation from FJ Labs, along with continued support from existing investors such as Axilor Ventures, Foundamental, Stride Ventures, and Trifecta Capital, among others. Metalbook aims to leverage this investment to broaden its global processing center network, enhance its technology infrastructure, and introduce new business verticals, setting a solid foundation for future growth and a planned IPO in the next 4-5 years.

Metalbook's Series A Funding Highlights Growth and Expansion Plans

In a significant move to bolster its position in the digital supply chain arena, Gurugram-based Metalbook has successfully secured USD 15 million in Series A financing. The funding round saw Rigel Capital taking the lead, with notable contributions from FJ Labs, and the continued support of existing backers including Axilor Ventures, Foundamental, Stride Ventures, Trifecta Capital, among others. This influx of capital marks a pivotal moment for Metalbook, aiming to significantly enhance its operational capabilities and market reach.

Strategic Deployment of Funds for Global Expansion and Technological Advancement

With the fresh capital at its disposal, Metalbook is poised for an ambitious expansion. The startup has outlined a comprehensive plan that includes extending its global network of processing centers, which is crucial for maintaining the efficiency and reliability of the metals supply chain. Furthermore, Metalbook is set to invest in upgrading its technology infrastructure, a move that will undoubtedly enhance its service offerings and operational efficiency. Additionally, the company is looking at launching new business verticals, signaling its intent to diversify and strengthen its market presence.

Commitment to Integrity, Innovation, and Customer-Centricity

Raghavendra Pratap Singh, Co-founder of Metalbook, emphasized the company's core values of integrity, innovation, customer-centricity, and sustainability as the bedrock for future growth and profitability. Singh's vision extends to taking the company public within the next 4-5 years, a goal that underlines Metalbook's confidence in its business model and growth trajectory.

Metalbook's Journey and Future Prospects

Founded in 2021 by Pulkit Baldev, Aman Tibrewal, and Raghavendra Pratap Singh, Metalbook has carved a niche for itself in the metals supply chain sector. The platform offers comprehensive solutions for enterprise and SME customers, covering the entire metal manufacturing and procurement cycle. This includes a wide range of services from buying, selling, customization, logistics, financing, e-auctioning, scrap recycling, to credit and project management solutions.

Metalbook's aggressive growth strategy has paid off, with the startup on track to achieve an annualized revenue run rate of USD 200 million by the end of FY24. This represents a remarkable growth of over 15 times in just two years, a testament to the platform's value proposition and market demand.

A Bright Future Ahead

As Metalbook embarks on this next phase of growth, the Series A funding not only provides the financial resources but also validates the startup's business model and market potential. With a strategic focus on expansion, technological upgrades, and launching new business verticals, Metalbook is well-positioned to capitalize on the opportunities in the digital supply chain space for metals. The company's commitment to its foundational values and its ambitious growth plans hint at a promising future, making Metalbook a company to watch in the years to come.

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