Attero Unveils MetalMandi to Facilitate 1,000 Tonnes of Daily Scrap Transactions by May 2025
Click to start listening
Synopsis
Attero has introduced MetalMandi, an AI-based platform to streamline metal scrap transactions in India, aiming for 1,000 tonnes daily by May 2025. It promotes transparency, fair pricing, and sustainability.
Key Takeaways
- MetalMandi aims to facilitate 1,000 tonnes of scrap transactions daily.
- The platform is designed for transparency and efficiency in the scrap trade.
- AI technology enhances pricing accuracy and streamlines the listing process.
- Attero targets onboarding 1.5 lakh users by April 2025.
- The service supports various scrap types with zero transaction fees.
New Delhi, Jan 15 (NationPress) - Attero, a prominent cleantech firm, introduced MetalMandi on Wednesday, a groundbreaking digital platform powered by AI that aims to enhance organization and efficiency within the unregulated metal scrap sector.
By utilizing state-of-the-art technology and sustainable practices, it provides a smooth, transparent, and equitable collection experience for scrap dealers and businesses throughout the nation.
The material recycling sector in India is valued at $40 billion and possesses remarkable potential for improving and formalizing the industry.
MetalMandi intends to seize this opportunity by facilitating the daily transaction of 1,000 tonnes of scrap by May 2025, which would equate to an annual revenue of Rs 2,000 crore.
The AI-driven MetalMandi application streamlines the scrap collection process, allowing users to list their scrap, obtain the best prices, and finalize transactions with ease. The platform offers real-time updates on scrap prices, secure payment options, and strong logistics support, removing intermediaries and guaranteeing a smooth experience.
“We are thrilled to launch MetalMandi to simplify and enhance India's metal scrap trade. At Attero, our mission has always been to promote sustainability through eco-friendly and transparent practices, aiming for meaningful transformations in the recycling ecosystem,” remarked Nitin Gupta, CEO & Co-founder of Attero.
“The AI-based pricing and product identification engine makes it a state-of-the-art platform that guarantees accuracy, efficiency, and transparency in scrap collection. By capitalizing on our extensive network and technology-driven strategy, we believe MetalMandi will establish new benchmarks in the industry,” he added.
Attero, recognized as the world's largest recycler of lithium-ion batteries, aims to onboard 1.5 lakh users on the MetalMandi platform by April 2025. Whether for small-scale scrap dealers or large enterprises, MetalMandi is tailored to meet diverse needs with trust and transparency in each transaction.
MetalMandi employs advanced AI technology in two key areas to improve user experience and ensure fair transactions. Firstly, its dynamic pricing engine utilizes AI to forecast scrap prices multiple times daily across various categories.
By assessing data from diverse sources and considering factors such as scrap type, composition, and supply-demand patterns, the platform guarantees accurate and competitive pricing.
Secondly, AI is utilized to recognize scrap from user-uploaded images, streamlining the listing process and minimizing errors. This dual application of AI positions MetalMandi as a smart, efficient, and user-friendly solution for the scrap supply chain.
MetalMandi features numerous user-friendly options, including live market prices, zero transaction fees, and support for a variety of scrap categories, including metal scrap, electronic waste, and household appliances. With its rapid and secure payment system, combined with AI-driven technology, extensive pan-India network, and 24/7 support from listing to transactions, it becomes an essential tool for scrap traders nationwide.
Users can begin by registering on the app using their mobile number. They can then list their scrap by providing details such as type, quantity, and images. The platform offers competitive, real-time, market-based AI-powered quotes to ensure fair transactions. Once the scrap is evaluated and collected, payments are processed promptly and securely, completing the hassle-free experience.
With over 15 years of expertise in electronic waste and lithium-ion battery recycling, Attero currently collaborates with 15,000 metal scrap traders across the country. MetalMandi aims to create a tech-driven platform that provides a transparent and straightforward way to sell scrap, including logistics, pickups, and payment assistance.
