Enlight Metals Private Limited, India’s first Agentic AI-enabled metal procurement platform, has secured USD 1.5 million from Exar North Group Inc, a US-based investment firm headquartered in Princeton, New Jersey, at a valuation of USD 10 million. The investment will support the company’s technology roadmap, strengthen its procurement capabilities and accelerate its next phase of business growth.
The funding will be used to advance Enlight Metals’ Agentic AI-enabled procurement platform, expand its technology infrastructure and scale operations across the metal procurement ecosystem. The company is also planning to increase customer acquisition, expand geographically, establish new dark stores and further integrate AI-led operational efficiencies into its business.
Enlight Metals’ technology platform has helped reduce end-to-end transaction processing time by 75%, inventory costs by 30% and operational overhead by 60%. Supplier matching time has also been reduced from five to seven hours to less than three minutes, demonstrating the company’s focus on using technology to simplify and accelerate metal procurement.
Following the investment, Enlight Metals is targeting approximately ₹1,200 crore in revenue in the next financial year. The company currently operates facilities in Pune, Mumbai and Raipur and plans to expand into Ahmedabad and Indore as part of its growth strategy.
Vedant Goel, Director, Enlight Metals Private Limited, said, “This is a proud moment for our company and our team. We have built Enlight Metals on the foundations of hard work, trust and a strong commitment to our customers. Our partnership with Exar North gives us the resources and technology support to serve our customers better while accelerating our growth. We are grateful for their belief in our vision and excited about the opportunities ahead.”
The partnership brings together Enlight Metals’ experience in steel sourcing and distribution with Exar North Group’s capabilities in capital, technology and operational support. The collaboration is expected to strengthen the company’s technology capabilities as it develops a more intelligent and scalable procurement ecosystem for the metal industry.
Jay Joshi, Founder and Chief Executive Officer, Exar North Group, said, “We were drawn to Enlight Metals because of the team’s clarity of purpose and the strength of the business they have built. Steel sourcing and distribution is an industry ready for smarter, data-driven procurement, and Vedant and his team have the market knowledge and the drive to lead that change. We are excited to support them through this next phase and look forward to a long and productive partnership.”
With the new investment, Enlight Metals will focus on expanding its Agentic AI capabilities, technology infrastructure and business operations. The company expects to complete the transaction in the coming weeks. Exar North Group Inc is a US-based investment firm headquartered in Princeton, New Jersey, focused on partnering with growing businesses and supporting their expansion through capital, technology and operational expertise.
Enlight Metals Private Limited is India’s first Agentic AI-enabled metal procurement platform, based in Pune, Maharashtra. The company combines expertise in steel sourcing and distribution with technology-driven procurement capabilities, serving customers with a focus on reliability, quality and long-term relationships.
