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Infra.Market has obtained debt financing totaling Rs 150 cr, or around $18 million. The $50 million equity round from the Mars Unicorn Fund, a joint venture of Liquidity Group and MUFG, comes after the debt infusion for the Mumbai-based company.
A special resolution to issue non-convertible redeemable debentures in order to fund Rs 150 crore has been approved by the board of Infra.Market. The committee previously authorised a resolution to issue debentures for up to Rs 500 crore. The Rs 500 crore tranche represents the fresh investment.
Raymond Limited, IKF Home Finance, and Samunnati Financial contributed Rs 25 crore, Rs 25 crore, and Rs 20 crore, respectively, to the investment made by CredAvenue, which totaled Rs 80 crore.
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Construction supplies, infrastructure products, and technical equipment are all sold on Infra.Market. It is aimed at the expanding market for building supplies, with a particular emphasis on the infrastructure industry.
In the construction materials industry, the company serves both retail shops (D2R) and institutional customers (B2B). The company claims that it exports to markets including Dubai, Singapore, Jordan, and Italy in addition to providing supplies to 16 states in India.
About Infra.Market
Founded in 2016 by Aaditya Sharda and Souvik Sengupta, 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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