Infra.Market, a prominent B2B ecommerce platform specializing in construction materials, has successfully raised INR 185 crore (approximately $22 million) in debt funding from a consortium of investors.
According to filings with the Registrar of Companies (RoC), Infra.Market secured this debt funding through issuance of non-convertible debentures. Key investors include digital lending unicorn Yubi (formerly CredAvenue), agriculture financing platform Samunnati, Vivriti Capital, IKF Home Finance, Raymond, and others. Notably, Yubi contributed INR 80 crore across two tranches, while IKF Home Finance, Raymond, and Samunnati invested INR 40 crore, INR 25 crore, and INR 20 crore respectively. Vivriti Capital also participated with an investment of INR 20 crore in this round.
The latest funding round, part of a larger INR 500 crore debt-raising initiative as reported earlier, aims to bolster Infra.Market’s financial capabilities for expanding its operations and enhancing market penetration. This infusion of capital will support the startup’s growth trajectory in the competitive B2B marketplace sector.
Previously, Infra.Market raised INR 100 crore from SK Finance in another debt round. Moreover, the company recently secured approximately INR 390 crore in an equity round from Liquidity Group and Mitsubishi UFJ Financial Group’s MARS Unicorn Fund. These funding initiatives underscore the company’s robust financial strategy aimed at sustaining growth and innovation.
Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market has established itself as a leader in manufacturing and distributing construction materials through proprietary brands like IVAS, Shalimar Paints, and RDC. The platform offers a wide range of products including concrete, AAC Blocks, steel, pipes and fittings, and MDF, among others, leveraging advanced technology to streamline procurement processes.
Backed by prominent investors such as Tiger Global, Accel, and Nexus Ventures, Infra.Market has raised a total funding of approximately $520 million to date. The company competes with industry peers like OfBusiness, Moglix, and Zetwerk, maintaining a strong market presence through continuous innovation and strategic partnerships.
In the fiscal year 2022-23 (FY23), Infra.Market reported a net profit of INR 155.2 crore, despite a 17% decline from the previous year. The operating revenue surged by 90% year-on-year to INR 11,846.5 crore, reflecting the company’s resilience and growth amidst market challenges.
