Infra.Market raises $20 mn in its series A funding

Infra.Market, a B2B marketplace for real estate and construction materials, has raised $20 million in its series A funding round led by US-based investment firm Tiger Global, Nexus Venture Partners and Accel Partners. The company was founded by Aaditya Sharda and Souvik Sengupta in 2016.

Earlier, the company had raised $3.5 million in a seed round from Accel Partners and a debt round of $4.5 million from InnoVen Capital.

It is understood that the company will utilize the funds in product and geographical expansion.

In a media statement, Co-founder of Infra.Market, Souvik Sengupta said, “This round happened before we expected, we are not looking to raise more funds. Currently, we are a high margin company and we have to stick to that. Our current monthly revenue is at $5 million and we aim to use the funds to grow the revenue to up to $20 million per month.”

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