Enlight Metals Raises $1.5 Million at $10 Million Valuation
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Khushi Jain
- September 17, 2026
Enlight Metals, a homegrown agentic AI-enabled metal procurement platform, has raised $1.5 million in funding from Exar North Group Inc., a US-based investment firm headquartered in Princeton, New Jersey, at a $10 million valuation.
The startup will use the capital to support its technology roadmap and accelerate the development of its Agentic AI-enabled procurement platform. The funds will also be used to 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. The startup plans to drive this growth through customer acquisition, geographic expansion, new dark stores and greater adoption of AI-led operational efficiencies.
The company currently operates facilities in Pune, Mumbai and Raipur. It plans to expand into Ahmedabad and Indore as part of its next phase of growth.
Management Statements
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.”
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.”
FAQs
1. How much funding has Enlight Metals raised?
Enlight Metals has raised $1.5 million in funding.
2. Who invested in Enlight Metals?
The funding was provided by Exar North Group Inc., a US-based investment firm headquartered in Princeton, New Jersey.
3. What is Enlight Metals’ valuation?
The startup was valued at $10 million.
4. How much revenue is Enlight Metals targeting?
The company is targeting approximately Rs 1,200 crore in revenue in the next financial year.
5. Which cities does Enlight Metals currently operate in?
Enlight Metals currently operates facilities in Pune, Mumbai and Raipur and plans to expand into Ahmedabad and Indore.
