Infra.Market raises $125 mn

Mumbai: Online marketplace for construction materials Infra.Market has raised $125 million (about Rs 928 crore) in Series D round led by Tiger Global, valuing the platform at $2.5 billion.

Founded by Souvik Sengupta and Aaditya Sharda in 2016, the Thane-based firm is a construction solutions company that leverages technology to provide an enhanced procurement experience for all players in the sector.

It will use the funds to enhance its technological offerings, enter newer markets and advance their initiatives such as private label brands, direct to retail channel and exports, apart from increasing its presence across product verticals and look at acquisition opportunities, the company said in a statement on Tuesday. The company is targeting the $140-billion construction materials market with a strong focus on the infrastructure sector, as it expects to significantly benefit from the ongoing investment in infrastructure projects under the national infrastructure pipeline, which has planned projects worth $2 trillion over the next few years.

"We are also embarking on new business verticals within the construction ecosystem beyond materials to enable us to provide end-to-end solutions to our customers across the lifecycle of a construction project," Sengupta said.