Newly turned Unicorn Inra.Market raises INR 100 crore from India's Venture Debt Fund Alteria Capital
Alteria Capital, India's largest venture debt fund, has provided Rs100 crore in venture debt funding to newly-minted unicorn Infra.Market.
Infra.Market is a technology company based in Mumbai that is attempting to change the way construction and real estate companies obtain materials for their projects. The company is a procurement marketplace that uses technology to provide a procurement experience for all players in the construction ecosystem.
Infra.Market, founded in 2016 by Souvik Sengupta and Aaditya Sharda, is attempting to disrupt the way businesses obtain building materials by introducing standardisation, quality, and predictability into the supply chain.
The startup is a marketplace that partners with contract manufacturers to use idle capacity and manufacture products for its own brand.
“Infra.Market is a clear category leader which is organizing the building materials and allied commerce segment in India. We have known the company for a while, and they have performed very well on growth coupled with strong profitability across the board," said Punit Shah, Partner, Alteria Capital.
“The company has performed exceedingly well and has beaten all expectations. The capital will be used for working capital requirements to grow the business as well as other uses," added Shah.
Infra.Market recently became a unicorn after raising a $100 million series C round led by Tiger Global, with participation from Accel Partners, Nexus Venture Partners, and Evolvence India Fund.
“We are excited to have Alteria on-board. We have been pleased with the speed and thoroughness they have shown in understanding our business over time. We look forward to this partnership and leveraging their network as we scale our business in the coming years," said Souvik Sengupta, founder, Infra.Market.
Alteria is also the driving force behind the formation of the Indian B2B Clan, a new initiative in the B2B space. This is a virtual community designed to bring together founders in the B2B services and commerce segments to seek advice on various operational goals as well as broad business strategy.
“B2B commerce as a segment is still largely untapped and there is a lot of potential. So we felt that there is a strong need for a platform where founders can come together and share their learnings," said Shah.
The community was launched in June and will be an exclusive club for founders to engage in focused peer group engagement.
Infra.Market is a technology company based in Mumbai that is attempting to change the way construction and real estate companies obtain materials for their projects. The company is a procurement marketplace that uses technology to provide a procurement experience for all players in the construction ecosystem.
Infra.Market, founded in 2016 by Souvik Sengupta and Aaditya Sharda, is attempting to disrupt the way businesses obtain building materials by introducing standardisation, quality, and predictability into the supply chain.
The startup is a marketplace that partners with contract manufacturers to use idle capacity and manufacture products for its own brand.
“Infra.Market is a clear category leader which is organizing the building materials and allied commerce segment in India. We have known the company for a while, and they have performed very well on growth coupled with strong profitability across the board," said Punit Shah, Partner, Alteria Capital.
“The company has performed exceedingly well and has beaten all expectations. The capital will be used for working capital requirements to grow the business as well as other uses," added Shah.
Infra.Market recently became a unicorn after raising a $100 million series C round led by Tiger Global, with participation from Accel Partners, Nexus Venture Partners, and Evolvence India Fund.
“We are excited to have Alteria on-board. We have been pleased with the speed and thoroughness they have shown in understanding our business over time. We look forward to this partnership and leveraging their network as we scale our business in the coming years," said Souvik Sengupta, founder, Infra.Market.
Alteria is also the driving force behind the formation of the Indian B2B Clan, a new initiative in the B2B space. This is a virtual community designed to bring together founders in the B2B services and commerce segments to seek advice on various operational goals as well as broad business strategy.
“B2B commerce as a segment is still largely untapped and there is a lot of potential. So we felt that there is a strong need for a platform where founders can come together and share their learnings," said Shah.
The community was launched in June and will be an exclusive club for founders to engage in focused peer group engagement.
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