New Delhi-based metal procurement platform Enlight Metals has raised $1.5 million from US-based investment firm Exar North Group at a valuation of $10 million, as the company looks to accelerate the development of its AI-led procurement platform and expand its operations across India.
The fresh capital will be used to strengthen Enlight Metals’ technology infrastructure, develop its Agentic AI-enabled procurement platform, and support its expansion across the metal procurement ecosystem.
Enlight Metals combines steel sourcing and distribution with technology to streamline procurement processes for businesses. The company said its AI-led platform has helped reduce end-to-end transaction processing time by 75%, inventory costs by 30% and operational overheads by 60%.
The platform has also reduced supplier matching time from approximately 5–7 hours to less than three minutes, according to the company.
Enlight Metals Plans Geographic Expansion
The company currently operates facilities in Pune, Mumbai and Raipur and plans to expand its presence to Ahmedabad and Indore.
As part of its expansion strategy, Enlight Metals will also add new dark stores, increase customer acquisition efforts and strengthen its geographic footprint across key metal-consuming markets.
The company plans to use technology and AI-driven processes to improve procurement efficiency as it scales its operations.
Targeting ₹1,200 Crore Revenue
Enlight Metals is targeting approximately ₹1,200 crore in revenue in the next financial year. The company expects geographic expansion and increased adoption of AI across its procurement and operational processes to support this target.
The company plans to further develop its Agentic AI capabilities, with a focus on automating and improving different stages of the procurement workflow.
Focus on AI-Driven Metal Procurement
Founded with the objective of combining metal sourcing and distribution with technology, Enlight Metals is positioning its platform as an integrated procurement solution for the metals ecosystem.
The partnership with Exar North Group is expected to provide the company with additional capital, technology support and operational expertise as it scales.
With the latest funding, Enlight Metals will focus on expanding its technology platform, advancing its Agentic AI capabilities and increasing its presence across India’s metal procurement markets.
By: Arushi Agarwal
