Felux has raised $19 million in Series A funding to enhance its digital B2B marketplace for the steel and metal supply chain.

Information on the Target

Felux is a rapidly growing online B2B marketplace and supply chain platform focused on the steel and metal industries. The company's platform, designed by experts in both steel and technology, aims to digitize every aspect of the supply chain, providing an efficient way for buyers and sellers to source, procure, ship, and finance their products in a streamlined digital environment. With its innovative solutions, Felux enhances visibility across the industrial supply chain, allowing customers to share inventory via digital channels, while also offering access to real-time freight and lane pricing.

Since its inception, Felux has expanded its offerings beyond steel, now venturing into additional markets such as aluminum and planning to incorporate other metals like copper and stainless steel. This proactive approach enables Felux to cater to a broader range of customers in an industry that has traditionally lagged in digital adoption.

Industry Overview in the Target’s Specific Country

The U.S. steel and metal market is one of the last major industries to fully transition to digital processes, with over 95% of transactions still conducted offline and on paper. Companies in the sector continue to face challenges due to outdated quoting and ne