Construction goods and services platform Infra.Market raised $27 M equity and debt Series E2 funding

In its Series E2 funding round, construction goods and services platform Infra.Market is hoping to raise up to Rs 150 crore, or roughly $18 million. Three months had passed since the $50 million from the Mars Fund was announced, when the new funding arrived in the company’s coffers.

A regulatory filing obtained from the Registrar of Companies (RoC) reveals that the board of Infra.Market has resolved to issue 7,028 Series E2 preference shares at an issue price of Rs 213438.7 per share in order to raise Rs 150 crore, or $18 million.

The company has already received Rs 76.3 crores of the total amount of Rs 150 crores. Along with Barad Sanjay Amarsinh, Amit Vijaysinh Barad has invested 45 crores rupees, with several individual shareholders contributing the remaining sum.

Notably, the business supported by Tiger Global also obtained debt financing from Innoven Capital totaling Rs 75 crore ($9 million). In July, the company concluded its Yubi debt round of Rs 150 crore.

The company’s post-allotment valuation has been estimated by the media to be approximately $2.6 billion.

The company appears to be pursuing a $150–200 million round, of which the new funding is a part. The company is also getting ready to launch its first public offering (IPO), and it might soon submit its draft red herring prospectus (DRHP).

Around $540 million has been raised by Infra.Market through debt and equity. thus far. TheKredible, a startup intelligence data platform, states that following the allocation of the new investment, Tiger Global is still the largest external stakeholder, followed by Accel and Nexus Ventures.

Infra.Market is a 2016 startup that offers infrastructure products, technical equipment, and building materials. It was founded by Souvik Sengupta and Aaditya Sharda. With a particular emphasis on the infrastructure sector, it is aimed at the expanding market for construction materials.

Infra.Market’s gross revenue increased by 89% to Rs 11,846 crore in FY23, but the company has not yet submitted its annual statements for FY24. Over the same period (FY23), its profit decreased by 17% to Rs 155 crore.

Zetwerk, MetalBook, OfBusiness, and Moglix are a few of the competitors of Infra.Market. Notably, in the upcoming fiscal year (FY26), OfBusiness also plans to list on stock exchanges.