Enlight Metals: Revolutionising Metal Procurement with AI Support

Enlight Metals, a metal procurement platform based in New Delhi, has successfully secured $1.5 million in funding from Exar North Group, a US-based investment firm, boasting a valuation of $10 million. The funds will enable Enlight Metals to further develop its Agentic AI-enabled procurement platform, fortify its technology infrastructure, and broaden its operations within the metal procurement sector.

Enlight Metals asserts that its AI-driven platform has significantly improved efficiency by trimming down end-to-end transaction processing times by 75%, cutting inventory expenses by 30%, and slashing operational overheads by 60%. Additionally, the time taken for supplier matching has been decreased from 5–7 hours to under three minutes.

Expansion Plans of Enlight Metals

Currently, Enlight Metals operates facilities in Pune, Mumbai, and Raipur, with plans to expand into Ahmedabad and Indore. The company intends to introduce new dark stores while concentrating on customer acquisition and geographic expansion.

Revenue Goals for Enlight Metals

Enlight Metals has set an ambitious target of approximately Rs 1,200 crore in revenue for the upcoming financial year. This objective will be pursued through strategic expansion and enhanced utilisation of AI in its procurement and operational workflows.

Established to merge steel sourcing and distribution with advanced technology, Enlight Metals believes that its collaboration with Exar North will yield essential capital, technological advancements, and operational support as the company scales its operations. The focus will also be on enhancing its Agentic AI functions and further developing its technology platform.