Infra.Market, a startup that was valued at $200Mn in December 2020, entered the unicorn club in February, multiplying its valuation by a factor of 5 in just a couple of months. However, it looks like the company’s growth spurt is far from over, as it continues to build upon this golden era of the Indian startup culture. Today, the company has announced that it has raised $125Mn in a Series D funding round, taking its valuation to $2.5Bn.
Tiger Global led this round, just like the Series C funding that took place in February this year.
India’s tech revolution has touched almost every sector in the country, including some that were vastly unorganized just half a decade ago. Construction was one such market, with most companies having no set logistics, and procurement being a hassle. Infra.Market entered the arena to change this, and has achieved a lot of success thanks to its sound offering.
The company allows small and large scale contractors and construction companies to procure goods, and well as keep track of their logistics. Moreover, Infra.Market also focuses on high-volume construction products under its own brands and aims to solve existing issues such as a lack of price transparency, unreliable quality, a fragmented vendor base, and inefficient logistics.
That’s not all, as the startup also keeps a quality check for all partnering companies. It does so through its load cells, which are added to manufacturing facilities to ensure that customers only get the highest quality products.
Last but not least, it also helps with the delivery process, ensuring that products reach the end user on time.
Thus, in essence, Infra.Market is a one stop shop for everything a construction company needs, streamlining the entire process-from manufacturing, quality control, logistics and delivery.
The company has managed to expand its footprint outside India as well, and has clients in Bangladesh, Malaysia, Singapore and Dubai.
“We continue to build on our vision of creating India’s largest multi-product construction materials brand and transform the construction materials supply chain, not only in India, but also globally,” said co-founder Souvik Sengupta.
Infra.Market will use this capital to expand into new markets, as well as introduce new categories to its platform. Moreover, it will also look to acquire smaller firms for inorganic growth.
“We are also embarking on new business verticals within the construction ecosystem beyond materials to enable us to provide end to end solutions to our customers across the lifecycle of a construction project. We are seeing huge growth in buyer wallet share as we are rapidly expanding our product portfolio and market presence and the launch of new verticals will help us fulfill our vision of creating a technology backed end to end construction solutions company,” Sengupta noted.
