Infra Market is a construction material and service manufacturing platform that has secured $27 million in its series E2 funding round. This round was led by Amit Vijaysinh and had the participation of others including individual investors. Amit Vijaysinh and Barad Sanjay Amarsinh led the round with Rs 45 crore and the remaining amount came from individual investors. The firm plans to use this fresh capital to scale its operations, enhance its manufacturing capability, and improve its platform.
_image source : https://infra.market/
The board has approved a resolution to allot 7,028 series E2 preference shares at an issue price of Rs 213438.7 per share to raise 18 million USD. According to the company filing, the startup plans to use these fresh proceeds for market expansion, and working capital purposes. The company manufactures construction materials along with technical equipment, and infrastructure goods.
The company focuses on growing the construction material market and infrastructure sector. The startup has secured around $540 million across multiple funding rounds since its inception, including 22.1 million raised from Yubi, Vivirti Capital, and Samunnati during the conventional debt round. This investment shows investor’s trust in Infra Market’s market potential and business model.
The startup also provides cloud manufacturing, equipment banking, and generating invoice services to its users. The startup data intelligence platform, thekredible mentioned that the existing investor Tiger Global remains the largest stakeholder in the firm with 21.33 percent. Accel accounts for 16.87 percent of the total stake followed by Nexus Ventures with 8.46 percent of the firm’s stake. The data intelligence platform, thekredible mentioned the company’s post-allotment valuation to be around 2.6 billion USD. The development came just after the company raised Rs 75 crore from Innoven Capital in its debt funding round.
The new funding round is expected to be a part of Infra Market’s $150 to $200 million pre-IPO round. The B2B e-commerce platform reported an 89 percent increase in its gross revenue to Rs 11,846 crore in FY23. However, the profit decreased by 17 percent and stood at Rs 155 crore in the same period. The company intends this fund to strengthen its platform, make it more secure, and expand its market presence in India. The construction material manufacturing company competes with OfBusiness, MetalBook, Moglix, and more. The Infra Market aims to transform the construction and infrastructure market globally.
Conclusion :
Infra Market is a Thane-based startup offering a construction material and service production platform. The startup got fresh capital of $27 million from Amit Vijaysinh and Barad Sanjay Amarsinh with the participation of other individual investors. The company plans to use this amount to scale its manufacturing units, hire teams for business development, expand to the market, and advance its technology.
Amit and Barad Sannjay led the round with Rs 45 crore followed by individual investors. After this round, Tiger Global holds the largest external stake with 21.33 percent. The company’s board approved the resolution to allot 7,028 series E2 preference shares at an issue price of Rs 213438.7 each to raise Rs 150 crore.
Hi, This is Scoopearth’s admin profile. Scoopearth is a well-known Digital Media Platform. We share Very Authentic and Meaningful information based on Real facts and Verification related to start-ups, technology, Digital Marketing, Business and Finance.
Note: You can reach us at support@scoopearth.com with any further queries.
Linkedin Page : https://www.linkedin.com/company/scoopearth-com/
Disclaimer -We have collected this information from our direct sources, various trustworthy sources on the internet and the facts have been checked manually and verified by our in-house team.