Infra. Indian Market Valued At $ 2.5 Billion With $ 125 Million Funding Led By Tiger Global – TechCrunch
Infra.Market, an Indian startup that helps construction and real estate companies in the world’s second most populous country source materials and manage project logistics, announced on Tuesday that it had secured its third round of funding in the last few months. last nine months.
Tiger Global, who led the startup’s Series C funding round in February this year, led the $ 125 million Series D funding round in the five-year startup. The new round valued Mumbai-headquartered Infra.Market at $ 2.5 billion (post-money), up from $ 1 billion in February and $ 200 million in December last year. The startup, which counts Nexus, Foundamental and Accel Partners among its investors, has raised around $ 275 million to date.
“We are delighted to double our investment in Infra.Market. The team has demonstrated exceptional growth and continues to disrupt the building materials industry. Over the past year, Infra.Market has become the partner of choice, especially during the pandemic when traditional supply chains have been disrupted, ”said Scott Shleifer, partner of Tiger Global Management, in a statement.
Infra.Market, which competes with Zetwerk, backed by Lightspeed, helps small businesses such as paint and cement manufacturers improve the quality of their production and meet various compliances.
The startup adds its load cells to the manufacturing facilities of these small businesses to ensure there is no loss of quality, and also helps them work with other companies that can provide them with better materials. raw materials and provide advice on pricing. He also works closely with companies to ensure their deliveries are made on time.
These improvements, explained co-founder Souvik Sengupta, help small manufacturers attract larger customers who have higher expectations from the companies they engage with. He said the start-up had also helped small manufacturers reach customers outside of India. Some of its clients are located in Bangladesh, Malaysia, Singapore and Dubai.
“We continue to build on our vision of creating the largest multi-product building materials brand in India and transforming the building materials supply chain not only in India, but also around the world,” he said. -he declares.
“We are also entering new lines of business within the construction ecosystem beyond materials to enable us to provide end-to-end solutions to our customers throughout the lifecycle of a building project. We are seeing tremendous growth in buyers’ portfolio share as we rapidly expand our product portfolio and market presence and launch new verticals will help us achieve our vision of building an end-to-end building solutions business. technology-based end.
The startup, which said it expects to surpass $ 1 billion in sales by the end of this calendar year, plans to roll out the new fund to expand into new markets and into new categories as well. It is also looking to acquire start-ups, the startup said.