Building materials platform Infra.Market is raising $125 million, or roughly Rs. 1,049 crore, in its Series F funding round. This comes after its Series E round's last tranche was completed in September 2024.

According to the Infra.Market's regulatory filing, which was obtained from the Registrar of Companies, has passed a special resolution to issue 49,149 compulsory convertible preference shares at an issue price of Rs. 2,13,439 each in order to raise Rs. 1,049 crore, or $125 million.

With two tranches of Rs. 498 crore for Series F and Rs. 551 crore for Series F1, the Rs. 1,049 crore Series F funding round seems to be a Pre-IPO initiative.

Founded in 2016, the first tranche, valued at Rs. 498 crore ($60 million), is led by Tiger Global, which has contributed Rs. 211 crore. Evolvence Group and Foundamental Fund have also contributed, with contributions of Rs. 168 crore and Rs. 119 crore, respectively.

Tiger Global, an existing investor, has made a sizable investment with this, especially considering its recent relatively low activity. Tiger Global made just two investments in 2024—Wiz Freight and the NBFC arm of Jupiter—both as a returning investor.

The second tranche, amounting to Rs. 551 crore, includes contributions from Capri Global, Eudora Ventures, Kangaro Industries, SVV Limited, Premratan Exports, and Verity Knowledge. Individual investors such as Ashish Kacholia, Nikhil Kamath, Abhijit Pai, Sumeet Kanwar, Nuvama, Dimpy Kanwar, and Sapna Vig are also participating. Additionally, Tiger Global, Evolvence, and Foundamental Fund may also invest in this round.