Building Material supplier Infra.Market mops up $27 million in Series E2 Funding round
Infra.Market, a platform for construction goods and services, is seeking to raise up to Rs 150 crore which is equivalent to around $18 million, in its Series E2 funding round. This new capital injection follows the announcement of receiving $50 million from Mars Fund just three months ago.
According to the Registrar of Companies (RoC), Infra.Market's board has approved a resolution to generate Rs 150 crore or $18 million through the issuance of 7,028 Series E2 preference shares at an issue price of Rs 213438.7 per share.
The company has received Rs. 76.3 crores out of the total amount of Rs. 150 crore. Barad Sanjay Amarsinh and Amit Vijaysinh Barad have collectively invested an amount of Rs. 45 crores, while the rest has been provided by other individual shareholders.
Significantly, the company backed by Tiger Global also obtained Rs. 75 crore ($9 million) in debt financing from Innoven Capital. Furthermore, Yubi successfully concluded its debt round of Rs. 150 crore in July. After the allotment, TheKredible approximates that the company's valuation is at approximately $2.6 billion.
It appears that the company is considering a round of funding in the range of $150-200 million, while simultaneously getting ready for an IPO and potentially submitting its DRHP.
According to TheKredible, a platform for startup intelligence data, Infra.Market has secured approximately $540 million through both equity and debt up until now. After receiving the recent investment injection, Tiger Global retains its position as the largest external investor in the company while Accel and Nexus Ventures follow closely behind.
In 2016, Souvik Sengupta and Aaditya Sharda established Infra.Market as a supplier of technical equipment, infrastructure goods, and construction materials. The company is strategically positioned to capitalize on the burgeoning market for building supplies with specific emphasis placed on meeting needs within the infrastructure space.
Infra.Market's gross revenue increased by 89% to Rs 11,846 crore in FY23. However, the company has not yet filed its annual statements for FY24. During the same period (FY23), its profit decreased by 17% and amounted to Rs.155 crore.
Included in Infra.Market's competitors are OfBusiness, Moglix, Zetwerk, and MetalBook. It is worth noting that FY26 sees OfBusiness also planning to become listed on stock exchanges.
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According to the Registrar of Companies (RoC), Infra.Market's board has approved a resolution to generate Rs 150 crore or $18 million through the issuance of 7,028 Series E2 preference shares at an issue price of Rs 213438.7 per share.
The company has received Rs. 76.3 crores out of the total amount of Rs. 150 crore. Barad Sanjay Amarsinh and Amit Vijaysinh Barad have collectively invested an amount of Rs. 45 crores, while the rest has been provided by other individual shareholders.
Significantly, the company backed by Tiger Global also obtained Rs. 75 crore ($9 million) in debt financing from Innoven Capital. Furthermore, Yubi successfully concluded its debt round of Rs. 150 crore in July. After the allotment, TheKredible approximates that the company's valuation is at approximately $2.6 billion.
It appears that the company is considering a round of funding in the range of $150-200 million, while simultaneously getting ready for an IPO and potentially submitting its DRHP.
According to TheKredible, a platform for startup intelligence data, Infra.Market has secured approximately $540 million through both equity and debt up until now. After receiving the recent investment injection, Tiger Global retains its position as the largest external investor in the company while Accel and Nexus Ventures follow closely behind.
In 2016, Souvik Sengupta and Aaditya Sharda established Infra.Market as a supplier of technical equipment, infrastructure goods, and construction materials. The company is strategically positioned to capitalize on the burgeoning market for building supplies with specific emphasis placed on meeting needs within the infrastructure space.
Infra.Market's gross revenue increased by 89% to Rs 11,846 crore in FY23. However, the company has not yet filed its annual statements for FY24. During the same period (FY23), its profit decreased by 17% and amounted to Rs.155 crore.
Included in Infra.Market's competitors are OfBusiness, Moglix, Zetwerk, and MetalBook. It is worth noting that FY26 sees OfBusiness also planning to become listed on stock exchanges.
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