Building materials supplier Infra.Market has raised approximately $83 million from its promoter group Silverline Homes and existing investors, according to regulatory filings. The funding round also saw participation from Tiger Global Management and Zerodha co-founder Nikhil Kamath.
Fundraising fuels public market ambitions
The latest capital infusion comes as the Mumbai-based startup prepares for its public market debut. The company has cumulatively raised about $700 million in funding to date across multiple rounds. It was last valued at $2.7 billion when it raised $150 million in conventional debt from Mars Growth Capital, earlier this year.
Strong financials support growth story
The company reported a 144% jump in net profit to Rs 378 crore in FY24, compared to Rs 155 crore in FY23. During the same period, revenue grew by 23% year-on-year, reaching Rs 14,530 crore in FY24. 80% of its overall revenue comes from B2B offerings.