Enlight Metals raises $1.5 Mn at $10 Mn valuation from Exar North Group

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. The proceeds will be used to develop its Agentic AI-enabled procurement platform, strengthen technology infrastructure and expand its operations across the metal procurement ecosystem. Enlight Metals claims its AI-led platform has reduced end-to-end transaction processing time by 75%, inventory costs by 30% and operational overhead by 60%. It has also reduced supplier matching time from 5–7 hours to less than three minutes. The company currently operates facilities in Pune, Mumbai and Raipur and plans to expand to Ahmedabad and Indore. It will also add new dark stores and focus on customer acquisition and geographic expansion. Enlight Metals is targeting around Rs 1,200 crore in revenue in the next financial year. The company plans to achieve this through expansion and increased use of AI across its procurement and operational processes. Founded to combine steel sourcing and distribution with technology, Enlight Metals said the partnership with Exar North will provide capital, technology and operational support as it scales. The company will also focus on advancing its Agentic AI capabilities and expanding its technology platform. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.

Original source: Entrackr