Infra.Market raises $125 m in funding led by TigerGlobal

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August 04, 2021 2:45 AM

The Mumbai-based start-up that runs a B2B marketplace helping construction and real estate firms procure materials for their projects turned unicorn earlier this year after a clutch of investors led by Tiger Global infused $100 million into the company. The firm has raised close to $268.5 million in venture capital (VC) funding so far.

The firm follows a dual model of flagship stores (for catering to smaller stores) and dealership stores (for retail customers).The firm follows a dual model of flagship stores (for catering to smaller stores) and dealership stores (for retail customers).

Infra.Market has raised a fresh $125 million in funding led by Tiger Global. The investment which is part of the company’s Series D financial round gives the firm a post-money valuation of $2.5 billion, the company said on Tuesday.

The Mumbai-based start-up that runs a B2B marketplace helping construction and real estate firms procure materials for their projects turned unicorn earlier this year after a clutch of investors led by Tiger Global infused $100 million into the company. The firm has raised close to $268.5 million in venture capital (VC) funding so far.

The start-up will deploy the fresh capital to fund expansion into newer markets, build on its private label growth, direct to retail channels, exports and enhance its technological offerings. The firm is also open to considering suitable acquisition opportunities in the construction space.

Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market focuses on high-volume construction products under its own brands. The company caters to both institutional customers and retail outlets in the construction materials sector. The firm follows a dual model of flagship stores (for catering to smaller stores) and dealership stores (for retail customers).

It supplies across 10 states in India and exports to markets such as Dubai, Singapore, Jordan and Italy. The company expects to significantly benefit from the ongoing increase in allocation for infrastructure projects under the National Infrastructure Pipeline, which has planned projects worth $2 trillion over the next few years.

“We are embarking on new business verticals within the construction ecosystem beyond materials to enable us to provide end-to-end solutions to our customers across the lifecycle of a construction project. We are seeing huge growth in buyer wallet share as we are rapidly expanding our product portfolio and market presence,” said founder Souvik Sengupta.

The firm claims to be growing five times year-on-year and is aiming to cross a billion dollars in sales by the end of this calendar year. More than two-thirds of the sales are contributed by the company’s own brands, it said.

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