Enlight Metals, a homegrown agentic AI-enabled steel procurement platform, has raised $1.5 million in funding from Exar North Group Inc., a US-based funding agency headquartered in Princeton, New Jersey, at a $10 million valuation.

The startup will use the raised capital to assist its know-how roadmap and speed up the event of its Agentic AI-enabled procurement platform, whereas scaling operations and increasing presence throughout the steel procurement ecosystem.

It is usually focusing on roughly Rs 1,200 crore in income within the subsequent monetary yr. Enlight Metals plans to drive this development by buyer acquisition, geographic enlargement, new darkish shops and higher adoption of AI-led operational efficiencies.

At the moment working services in Pune, Mumbai and Raipur, Enlight Metals additionally plans to develop into Ahmedabad and Indore as a part of its subsequent section of development.

Vedant Goel, Director, Enlight Metals Non-public Restricted, stated, “It is a proud second for our firm and our group. We now have constructed Enlight Metals on the foundations of arduous work, belief and a robust dedication to our prospects. Our partnership with Exar North offers us the assets and know-how assist to serve our prospects higher whereas accelerating our development. We’re grateful for his or her perception in our imaginative and prescient and excited concerning the alternatives forward.”

Jay Joshi, Founder and Chief Govt Officer, Exar North Group, stated, “We have been drawn to Enlight Metals due to the group’s readability of goal and the energy of the enterprise they’ve constructed. Metal sourcing and distribution is an trade prepared for smarter, data-driven procurement, and Vedant and his group have the market data and the drive to steer that change. We’re excited to assist them by this subsequent section and look ahead to a protracted and productive partnership.”