Construction materials startup Infra.Market has raised ₹731 crore (around $88 million) in a fresh funding round, keeping its valuation unchanged at $2.5 billion. The move comes as the company prepares for its much-awaited initial public offering (IPO).
The funding was led by existing investors and is seen as a pre-IPO placement to strengthen the company’s balance sheet and build investor confidence. Infra.Market had earlier raised $50 million from MARS Unicorn Fund in May 2024, also at the same valuation.
Why This Matters
- Flat Valuation: Unlike many Indian unicorns that saw valuation cuts in recent rounds, Infra.Market has managed to hold its $2.5 billion mark.
- IPO Plans: The company is expected to file draft papers for its IPO in the coming months.
- Growth Strategy: Funds will be used to expand product offerings, strengthen technology platforms, and grow presence in domestic and international markets.
Founded in 2016 by Aaditya Sharda and Souvik Sengupta, Infra.Market provides construction materials such as concrete, steel, pipes, paints, tiles, and other building essentials. It serves both B2B clients (real estate developers, contractors, infrastructure companies) and retail outlets.
Infra.Market’s Journey So Far
- Unicorn Status: Reached in 2021 after a Tiger Global-led investment.
- Revenues: Crossed ₹11,000 crore in FY24, with steady profitability in recent years.
- Market Expansion: Strong presence across India, while expanding into the Middle East and other regions.
With construction and infrastructure development booming in India, Infra.Market’s IPO is likely to attract strong interest from both institutional and retail investors.
Summary Table
| Detail | Information |
|---|---|
| Company | Infra.Market |
| Sector | Construction Materials & B2B Commerce |
| Funding Raised | ₹731 Crore (~$88M) |
| Valuation | $2.5 Billion (unchanged) |
| Round Type | Pre-IPO Placement |
| Founded | 2016 |
| Founders | Aaditya Sharda & Souvik Sengupta |
| Revenue (FY24) | ₹11,000+ Crore |
| Use of Funds | Expansion, technology, IPO preparation |
| IPO Status | Expected to file soon |
