The Series E2 funding round of Infra.Market, a platform that provides construction products and services, is expected to raise a maximum of Rs 150 crore (approximately $18 million).
Just three months after the Mars Fund announced a $50 million investment, the company received the additional funds.
The Registrar of Companies (RoC) has accessed the regulatory filing of Infra.Market, which indicates that the board has passed a resolution to issue 7,028 Series E2 preference shares at an issue price of Rs 213438.7 each in order to raise Rs 150 crore or $18 million.
Innoven Capital provided Rs 75 crore ($9 million) in debt funding to the Tiger Global-backed enterprise, which is of significant importance. The company also completed its Rs 150 crore debt round, Yubi, in July. Entrackr was the first to report the development.
The company is reportedly considering a $150-200 million funding round, which appears to include the new funding. In addition, the organization is in the process of preparing for an initial public offering (IPO) and may submit its draft red herring prospectus (DRHP) in the near future.
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Around $540 million has been raised by Infra.Market through equity and debt. To date. TheKredible, a startup intelligence data platform, indicates that Tiger Global continues to be the largest external stakeholder, with Accel and Nexus Ventures following suit following the new infusion.
Construction materials, infrastructure products, and technical equipment are sold by Infra.Market. With an emphasis on the infrastructure sector, it is aiming to capitalize on the expanding construction materials market.
About Infra.Market
Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market is a Construction Solutions company that leverages technology to provide an enhanced procurement experience for all players in the construction ecosystem.
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