India, April 1 -- Manufacturing materials marketplace NowPurchase has secured Rs.80 Cr (about $8.5 Mn) in a funding round led by Bajaj Finserv. The round also saw participation from its existing backers InfoEdge Ventures, Orios Venture Partners and Real Ispat Group, and individual investors and family offices including S Four Capital partner Shikhar Raj, Lloyds Group promoter and director Madhur Gupta, among others. 

The startup plans to use the fresh capital to strengthen its core offerings like scrap recycling, expanding its branded products portfolio and scaling its AI-powered SaaS platform, MetalCloud.

Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase operates a marketplace for procuring manufacturing raw materials lik...