Infra Market Enters the Unicorn Club with a $100 Million Fund Raise From Tiger Global

Infrastructure Startup Infra Market (Infra.Market) has raised a $100 million Series C round led by led by Tiger Global. Existing investors, including Foundamental, Accel Partners, Nexus Venture Partners, Evolvence India Fund and Sistema Asia Fund also participated in the round. The round now values Infra Market at $1 billion making it a new entrant in the unicorn club.

The startup helps construction and real estate companies to procure materials and handle logistics for their projects. It further helps small businesses like paints and cement manufacturers improve the quality of their production. The startup also helps SMBs meet regulatory compliances in India. It also works closely with businesses to ensure timely deliveries.

These improvements, explains co-founder Souvik Sengupta, help small manufacturers land larger clients. The latter have higher expectations from the businesses with which they engage. So, Infra Market helps small manufacturers reach customers outside of India as well. Some of its clients are in Bangladesh, Malaysia, Singapore and Dubai.

From the leaders

“We are delighted to partner with Souvik and Aaditya in the growth journey of Infra Market. It is reshaping India’s construction materials supply chain. With pioneering technology innovation and the ability to stitch together private label brands, they are positioned for strong growth, healthy economics and profitability,” said Scott Shleifer, partner of Tiger Global Management. Further, Sengupta added, “We are seeing rapid acceleration in demand. Infrastructure and real-estate companies are looking to shift their procurement to get consistent quality and minimize delays.”

He further added that the company will use the funds to enhance its technological offerings. It will further seed newer markets and advance their initiatives. These include private label brands and direct to retail channel and exports. The company also said that it will significantly benefit from a 34% increase in allocation for infrastructure projects in the Union Budget 2021.