Infra.Market raises $20 million in Series B funding

Thane: Infra.Market, a business-to-business marketplace for real estate and construction materials, on Thursday said it has raised $20 million (Rs 147 crore) as part of its Series B funding round.

The funds were raised from three new investors Evolvence India Fund, Sistema Asia Fund, and Foundamental Gmbh said Infra.Market in a statement.

The fresh capital will help the company enter new markets and push its integration initiatives such as private labels and direct-to-retail channels.

It also aims to invest a portion of its funds in international expansion. The company that gets around 10% of its revenue from international operations currently exports to Dubai, Singapore, and Malaysia.

Infra.Market, operated by Hella Infra Market Ltd, was founded in 2016 by Aaditya Sharda and Souvik Sengupta. The company provides products such as ready-mix concrete, fly ash, and construction chemicals.

The firm said that it exceeded pre-Covid-19 revenue levels while maintaining healthy economics and bottom line. It also expanded to Tier-II cities within the 10 states it operates in.