Infra.Market Joins Unicorn Club with $1 Billion Valuation Following Series C Funding Round
Infra.Market, a Mumbai-based startup, has achieved a remarkable leap in valuation, skyrocketing from $170 million to $1 billion after securing $100 million in its Series C funding round. This round was led by Tiger Global, with significant contributions from existing investors including Fundamental GmbH, Accel Partners, Nexus Venture Partners, Evolvence India Fund, and Sistema Asia Fund. Avendus Capital served as the exclusive financial adviser, guiding Infra.Market to reach unicorn status.
Founded in 2016 by Aaditya Sharda and Souvik Sengupta, Infra.Market is a B2B online procurement marketplace specializing in construction materials, logistics, and financial support. The platform leverages technology to streamline the procurement process and utilizes 300 contract manufacturers to sell products under its own brand to major infrastructure companies and retail outlets. Despite being bootstrapped and profitable since inception, Infra.Market is now poised to expand into the B2C market with its new funding.
Currently serving institutional clients (B2B) and retail outlets (D2R), Infra.Market’s clients include major names such as Tata Projects, Crystal Group, Larsen & Toubro, Ashoka Buildcon, and Ambuja Cement. The company operates across 10 states and caters to industries including automotive, cement, real estate, steel, infrastructure, and chemicals. With a gross merchandise value (GMV) of $400 million over the past four years, Infra.Market aims to hit a GMV of $1 billion this year and has begun exporting to markets such as the UAE, Singapore, Malaysia, and Bangladesh.
Having previously raised $20 million in Series A funding from Tiger Global in 2019 and an additional $5.4 million in equity and debt from Trifecta in 2020, Infra.Market has now raised a total of $34.7 million. The company serves 304 clients, 3,000 small retailers, and manages 742 projects across four countries, with daily deliveries reaching 946. Over two-thirds of its sales come from its own brands in sectors like concrete, stone materials, chemicals, and cement. With the latest funding, Infra.Market plans to launch in-house brands in paints and plywood, increase its retail presence with private labels in steel, cement, and flooring, and expand its store count by fivefold to 1,000 over the next 18 months. The company also aims to enhance its technological offerings and advance its D2R channel and export operations.
Aaditya Sharda, co-founder of Infra.Market, expressed enthusiasm about the new investors: “We are excited to onboard the new investors on the journey to build one of the largest B2B startups in India. We are thankful for the new investors and the continued support of our existing investors as we remain focused on building a profitable and sustainable venture while reshaping the construction ecosystem through technology.”
To explore more about Infra.Market and its retail offerings, visit the Playstore and discover the latest unicorn addition.