It is anticipated that Infra.Market, a platform offering construction services and goods, may receive up to Rs 150 crore (about $18 million) in its Series E2 fundraising round.
The company obtained the additional funding just three months after the $50 million investment from the Mars Fund was revealed.
Through access to Infra.Market’s regulatory filing, the Registrar of Companies (RoC) has learned that the board has decided to fund Rs 150 crore, or $18 million, by issuing 7,028 Series E2 preference shares at an issue price of Rs 213438.7 per.
Importantly, Innoven Capital gave the Tiger Global-backed company financing funding totaling Rs 75 crore ($9 million). In July, the business also finished its Yubi debt round, which totaled Rs 150 crore. The development was initially reported by Entrackr.
The new cash appears to be part of a $150–200 million funding round that the company is apparently considering. The organization is also working on getting ready for an IPO, and they might soon submit their draft red herring prospectus (DRHP).
Infra.Market has raised over $540 million in debt and equity. Thus far. Tiger Global remains the top external stakeholder, according to TheKredible, a startup intelligence data platform, with Accel and Nexus Ventures following suit with the recent injection.
Read also – [Funding news] Genesis Alternative Ventures Raises US$125 Million for Second Venture Debt Fund
Infra.Market sells technical equipment, infrastructure supplies, and construction materials. Its goal is to profit from the growing market for building materials, with a focus on the infrastructure sector.
About Infra.Market
Infra.Market is a Construction Solutions company that leverages technology to provide an enhanced procurement experience for all players in the construction ecosystem. We focus on Construction Products under our own private-label brands.
