MUMBAI: B2B player Infra.Market, which has joined a rush of startups planning list this year in a hot IPO market, has raised $121 million (Rs 1,050 crore) at a valuation of $2.8 billion. Investors include Tiger Global, Evolvence and Foundamental, regulatory filings made with the registrar of companies showed.
The funding which is part of the startup’s pre-IPO investment round has also been backed by Nuvama, Capri Global and individual investors like Nikhil Kamath and Ashish Kacholia. Infra.Market did not comment on the matter. Founded in 2016 by Aaditya Sharda and Souvik Sengupta, Infra.Market manufactures and supplies a range of construction and building materials to businesses like DLF, Godrej and Lodha.
Infra.Market is among a rare breed of profitable startups. It reported net profits of Rs 378 crore in financial year 2023-24.
