Infra.Market raises funding led by Tiger Global, valued at $2.5 bn
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Within five months, Tiger Global led another round of investment in Infra.Market with $125 million ($928 crore) in a Series D funding. 

The latest funding round values the company at $2.5 billion (around Rs 18,560 crore). Tiger Global had also participated in all the Series A, B and C rounds for Infra.Market so far.

In February, Infra.Market, a technology-enabled marketplace for on-demand construction materials, hit unicorn status (valued at $1 billion [about Rs 7,245 crore]) after raising $100 million (about Rs 724 crore) in a Series C funding round from its existing investors including Tiger Global, Accel, Nexus Venture Partners, Evolvence India Fund, Sistema Asia Fund and Foundamental Gmbh.  

“The new fund-raise will enable Infra.Market to enhance its technological offerings, seed newer markets and advance their initiatives such as private label brands, direct to retail channel and exports,” the company said in a statement. 

The company intends to use the proceeds of the raise to cater to newer markets and increase its presence across product verticals and look at acquisition opportunities across the construction ecosystem, it added. 

Avendus Capital was the exclusive financial advisor to Infra.Market on the transaction.

In May, Infra.Market announced the acquisition of Equiphunt, a Hyderabad-based construction equipment rental service with complete solutions geared towards equipment ownership, maintenance and utilisation. This will enable Infra.Market to create an end-to-end construction solutions company. 

“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,” Souvik Sengupta, founder, Infra.Market, said. 

In December 2020, Tiger Global had participated in the round when Infra.Market had raised $20 million (about Rs 144 crore) as part of its Series B fundraising from three new investors, Evolvence India Fund, Sistema Asia Fund and Foundamental. 

In December 2019, Infra.Market had raised $20 million (about Rs 144 crore) in its Series A funding round led by Tiger Global. Other investors that participated in the round include Nexus Venture Partners. Existing investor Accel also contributed to the round. 

Before that, Infra.Market had raised $3.5 million (about Rs 25 crore) in a seed funding round from Accel in August 2019. 

Early this year, venture debt firm InnoVen Capital invested Rs 50 crore (about $6.8 million) in the company. 


Operated by Hella Infra Market Ltd, Infra.Market was founded in 2016 by Aaditya Sharda and Souvik Sengupta as a procurement marketplace that leverages technology to provide an enhanced procurement experience for all players in the construction ecosystem. The company provides products such as ready-mix concrete, fly ash and construction chemicals. 

The Maharashtra based company caters to both institutional customers (B2B) and retail outlets (D2R) in the construction materials sector and has grown supply to retail outlets and follows a dual model of flagship stores (for catering to smaller stores) and dealership stores (for retail customers).  

It supplies across 10 states in India and exports to markets such as Dubai, Singapore, Jordan, Italy, etc. 

Infra.Market expects to cross a billion dollars in sales by December end. 

It is targeting the $140 billion construction materials market with a focus on the infrastructure sector. It hopes to leverage the ongoing increase in allocation for infrastructure projects under central government’s National Infrastructure Pipeline programme, which has planned projects worth $2 trillion to be executed over the next few years, the company said. 

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