Enlight Metals Secures USD 1.5 Million at USD 10 Million Valuation to Power Agentic AI‑Led Procurement

New Delhi | 17 September 2026: Enlight Metals Private Limited, India’s first Agentic AI‑enabled metal procurement platform, has secured USD 1.5 million in funding from Exar North Group Inc., a US‑based investment firm headquartered in Princeton, New Jersey, at a USD 10 million valuation.

The investment will accelerate Enlight Metals’ technology roadmap, strengthen its AI‑driven procurement capabilities, and scale operations across India’s metal procurement ecosystem.

Technology Impact
Enlight Metals’ proprietary AI‑enabled platform has already delivered significant operational efficiencies:

• 75% reduction in end‑to‑end transaction processing time
• 30% reduction in inventory costs
• 60% reduction in operational overhead
• Supplier matching time cut from 5–7 hours to under three minutes

Growth Ambitions
With this investment, Enlight Metals is targeting approximately ₹1,200 crore in revenue in the next financial year. Growth will be driven by:

• Customer acquisition
• Geographic expansion into Ahmedabad and Indore (currently operating in Pune, Mumbai, Raipur)
• Establishment of new dark stores
• Greater adoption of AI‑led operational efficiencies

Vedant Goel, Director, Enlight Metals Private Limited: “This is a proud moment for our company and our team. We have built Enlight Metals on the foundations of hard work, trust, and customer commitment. Our partnership with Exar North gives us the resources and technology support to accelerate growth and serve customers better.”

Jay Joshi, Founder & CEO, Exar North Group Inc.: “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 ready for smarter, data‑driven procurement, and Vedant’s team has the drive to lead that change.”

Strategic Partnership
The collaboration combines Enlight Metals’ expertise in steel sourcing and distribution with Exar North Group’s capital, technology, and operational support, strengthening Enlight Metals’ capabilities to build a scalable, intelligent procurement ecosystem for the metal industry.

About Exar North Group Inc.
Exar North Group Inc. is a US‑based investment firm headquartered in Princeton, New Jersey, focused on partnering with growing businesses and supporting their scale through capital, technology, and operational expertise.

About Enlight Metals Private Limited
Enlight Metals Private Limited, headquartered in Pune, Maharashtra, is India’s first Agentic AI‑enabled metal procurement platform. The company combines deep expertise in steel sourcing and distribution with technology‑driven procurement capabilities, serving customers with reliability, quality, and long‑term relationships.