Enlight Metals, a procurement platform for metals located in New Delhi, India; received $1.5 million in funding from U.S. investment company Exar North Group at an estimated value of $10 million. The money will be used to create the company’s Agentic AI enabled procurement platform, upgrade the company’s technology infrastructure, and grow the company’s footprint within the procurement of metals. According to Enlight Metals, their AI-driven platform has decreased end-to-end transaction processing time by 75 percent, inventory cost by 30 percent, and operational overhead by 60 percent.
Additionally, the time taken for finding a suitable supplier is now less than three minutes compared to 5 to 7 hours before. Enlight Metals currently has locations in Pune, Mumbai and Raipur and intends to open locations in Ahmedabad and Indore.
Furthermore, the company is looking into opening additional “dark” stores as well as increasing efforts towards customer acquisition and geographical expansion.
Enlight Metals expects to generate around Rs 1,200 crore in revenue in the coming financial year, driven by business expansion and greater adoption of AI across its procurement and operational functions.
The company was established with the aim of combining steel sourcing and distribution with technology. As it expands, Enlight Metals said its partnership with Exar North will provide access to capital, technology and operational expertise. The company also plans to strengthen its Agentic AI capabilities and further develop its technology platform.
