Const Material E-commerce Platform Infra.Market Raises $125 MN
Construction material e-commerce platform Infra.Market has raised $125 million in a Series D round led by Tiger Global, an investor since Feb this year, at a valuation of $2.5 billion. The company’s valuation has increased more than two-fold in the last six months. Infra.Market was founded by Souvik Sengupta and Aaditya Sharda in 2016. It is a marketplace for other businesses and retailers to order construction material like concrete, fly ash, construction chemicals, sand and more. “The five-year old company expects its annual revenue to cross a billion dollars this year. More than two-third of the sales are contributed by the company’s own private label, which gives them hire margins. Notably, Infra.Market has been profitable since inception and has a revenue run rate of $700 million. It now has customers in 10 states in India and exports to international markets like Dubai, Singapore, Jordan, Italy and more,” the company said. Infra.Market Company will look at acquisition opportunities as well. It had recently acquired Equiphunt, an equipment solutions platform that provides services like equipment ownership, maintenance and utilization. The company expects to benefit significantly from the ongoing increase in allocation for infrastructure projects under the National Infrastructure Pipeline, which has planned projects worth $2 trillion to be executed over the next few years.
Tags : ALLIED construction material Raises E-Commerce platform Infra.Market