Infra.Market, a B2B construction materials marketplace, has raised Rs 200 crore by issuing debentures to a group of investors led by financial institution Avendus.

First reported by ET, the funding is intended to help meet the working capital needs of the startup. The funding round also saw participation from the family office of Phoenix Mills and Dalmia Group Holdings. As per the source, this is debt funding with a three-year tenure, and the startup is also in talks to raise equity funding.

Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market is a Mumbai-based construction solutions startup that leverages technology to provide an enhanced procurement experience for all players in the construction ecosystem.

Infra.Market has two lines of business. It supplies concrete, cement, steel, chemicals, and electricals to the construction industry. The Mumbai-based startup is also developing a private label business with its own branded products, such as ready-mix concrete.

Infra.Market | Multi-Product Construction Materials brand

As per the startup, it aims to address concerns around pricing transparency, unreliable quality, fragmented vendor base and inefficient logistics on the customer side. On the manufacturer’s side, the startup ensures higher capacity utilization, steady demand and better customer reach. 

Infra.Market had acquired a majority stake in Sociam Equipment Solutions, an equipment solutions platform, for an undisclosed amount, in May 2021. 

During the acquisition, Co-founder of Infra.Market Aaditya Sharda said,

“Equiphunt team has successfully built a pioneering construction equipment management platform, and we are excited to partner with them to build out India’s largest digitised equipment solutions platform.”

In September 2021, Infra.Market acquired RDC concrete, a ready-mix concrete company, for Rs 730 crore. The Mumbai-based construction materials marketplace has so far raised close to $270 million in equity funding over five rounds.

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