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Infra.Market Raises INR 143.26 Crore in Series A Funding Round

B2B marketplace, Infra.Market has lately raised INR 143.26 crore in its Series A funding round; Tiger global led the funding round in the startup company
BY BEx Bureau
BusinessEx
Dec 02, 2019

B2B marketplace, Infra.Market has lately raised INR 143.26 crore in its Series A funding round. Tiger global led the funding round in the startup company.

Other investors that participated in the round include Nexus Venture Partners. Existing investor Accel also contributed to the round, VC Circle reported citing Infra.Markets statement.

The startup will employ funds for expansion in Indian cities like Hyderabad, Ahmedabad, and Chennai and also aims to grow its revenue from current $5 million per month to $20 million monthly, the company added.

The news comes following the Mumbai-based startup raised INR 25.04 crore in seed funding round from Accel in August this year. It raised $4.5 million in debt funding from online lending platform, Innoven Capital in September this year.

Other investors in the firm comprise Dhruv Agarwal, founder and CEO of Proptiger.

Infra.Market, which is administered by Hella Infra Market Ltd, was initiated in 2016 by Souvik Sengupta and Aaditya Sharda. Sharda, which is a former graduate of IIM Ahmedabad, has years of experience in infrastructure and competition segment.

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