Enlight Metals raises $1.5M for agentic AI procurement

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

Enlight Metals currently operates facilities in Pune, Mumbai and Raipur, with plans to expand into Ahmedabad and Indore.

The startup will use the raised capital to support its technology roadmap, accelerate the development of its Agentic AI-enabled procurement platform, scale operations and expand its presence across the metal procurement ecosystem.

Enlight Metals is targeting approximately Rs 1,200 crore in revenue in the next financial year through customer acquisition, geographic expansion, new dark stores and greater adoption of AI-led operational efficiencies.

“We were drawn to Enlight Metals because of the team’s clarity of purpose and the strength of the business they have built,” said Jay Joshi, Founder and Chief Executive Officer, Exar North Group.

“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.”

Vedant Goel, Director, Enlight Metals Private Limited, said, “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.”