Infra.Market Secures $27 Million in Equity and Debt

Infra.Market, a platform specializing in construction goods and services, is raising approximately $18 million (Rs 150 crore) in its Series E2 funding round. This development comes three months after the company secured $50 million from Mars Fund.

According to a regulatory filing with the Registrar of Companies (RoC), Infra.Market’s board has approved the issuance of 7,028 Series E2 preference shares, priced at Rs 213,438.7 each, to raise the Rs 150 crore. Out of this total, the company has already received Rs 76.3 crore. Investors Amit Vijaysinh Barad and Barad Sanjay Amarsinh contributed Rs 45 crore, with the rest coming from other individual shareholders.

In addition to the equity raise, the company has secured Rs 75 crore ($9 million) in debt funding from Innoven Capital. Earlier, in July, Infra.Market concluded a Rs 150 crore debt round from Yubi.

Estimates from TheKredible suggest that the company’s post-allotment valuation stands at around $2.6 billion. The new funding appears to be part of a larger $150-200 million round. Infra.Market is also preparing for an initial public offering (IPO), with plans to file its draft red herring prospectus (DRHP) in the near future.

To date, the company has raised approximately $540 million in both equity and debt. Tiger Global remains the largest external investor, followed by Accel and Nexus Ventures, based on data from TheKredible.

Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market focuses on selling construction materials, infrastructure goods, and technical equipment. It has positioned itself within the growing construction materials market, especially targeting infrastructure projects.

While Infra.Market has yet to file its annual statements for FY24, its gross revenue grew by 89% in FY23, reaching Rs 11,846 crore. However, the company’s profit saw a decline of 17%, totaling Rs 155 crore for the same period.

In the competitive landscape, Infra.Market faces challenges from firms such as OfBusiness, Moglix, Zetwerk, and MetalBook. OfBusiness, another player in the market, is also planning to go public, aiming for a stock exchange listing in FY26.

---

If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.

Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.