“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.” Vedant Goel, Director, Enlight Metals Private Limited
“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.” Jay Joshi, Founder and Chief Executive Officer, Exar North Group
Enlight Metals Private Limited, India’s first Agentic AI-enabled metal procurement platform, secured US$ 1.5 million from Exar North Group Inc., a US-based investment firm headquartered in Princeton, New Jersey, at a US$ 10 million valuation. The investment will support the company’s vision of powering Agentic AI-led procurement and further strengthening its technology-led approach to transforming metal procurement.
The fresh capital will support Enlight Metals’ technology roadmap and accelerate the development of its Agentic AI-enabled procurement platform, while enabling the company to scale its operations and expand its presence across the metal procurement ecosystem.
Its AI-led 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 5–7 hours to under three minutes, highlighting the impact of technology on the company’s procurement operations.
With the investment, Enlight Metals is targeting approximately ₹1,200 crore in revenue in the next financial year, representing a significant scale-up in its business. The company plans to drive this growth through customer acquisition, geographic expansion, new dark stores and greater adoption of AI-led operational efficiencies. Currently operating facilities in Pune, Mumbai and Raipur, Enlight Metals also plans to expand into Ahmedabad and Indore as part of its next phase of growth.
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 combines Enlight Metals’ experience in steel sourcing and distribution with Exar North Group’s capabilities across capital, technology and operational support. The collaboration will further strengthen Enlight Metals’ technology capabilities as it works towards building 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 advancing its Agentic AI capabilities, expanding its technology infrastructure and scaling its business operations. The company expects to complete the transaction in the coming weeks as it moves ahead with the next phase of its growth journey.
