Infra.Market, a B2B marketplace for real estate and construction materials, has raised $100 million in its series C funding round led by US-based investment firm Tiger Global and Nexus Venture Partners.
The latest funding round also saw investment from other existing investors Evolvence India Fund, Sistema Asia Fund, Foundamental Gmbh, and Accel Partners. Founded by Aaditya Sharda and Souvik Sengupta in 2016, the company has now entered into the unicorn club with $1 billion valuation.
The company plans to expand into newer markets and facilitate its private labels and direct-to-retail channels and exports with the fresh funds raised.
“We are digitally transforming the highly inefficient construction materials supply chain in India by aggregating the capacity of small manufacturers and adding our cutting-edge technology and services stack. We are seeing rapid acceleration in demand as infrastructure and real-estate companies are looking to shift their procurement to get consistent quality and minimise delays,” Souvik Sengupta, founder of Infra.Market said.
Infra.Market helps small businesses such as manufacturers of paints and cements 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 lapse in quality, and also helps them work with other businesses that can provide them with better raw material and provide guidance on pricing. It also works closely with businesses to ensure that their deliveries are made on time.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.