Infra.market is a construction startup that secured $18 million in debt funding rounds over the last  two months. The startup raised $50 million from MARS Unicorn Fund in an equity funding round. The  company offers construction, technical equipment, and building materials. The startup plans to use  this fresh capital to improve its services, enhance its platform, expand in the market, and scale its  operations. 

The board has approved a special resolution to allot non-convertible redeemable debentures at a certain issue price to raise $18 million. According to the company filing, the startup will use these fresh  proceeds to scale its operations, meet working capital purposes, and market expansion. The company  previously passed a resolution to raise Rs 500 crore and this round is the tranche of that deal. In this  debt funding round, the CredAvenue invested around Rs 80 crore followed by IKF Home Finance and  Raymond Limited with Rs 25 crore each. While the Samunnati Financial invested Rs 20 crore. The firm  was founded by Aadity Sharda and Souvik Sengupta in 2016 to offer construction-related products for  the infrastructure sector. This is one of the only construction startups in India that managed to remain  profitable and report a nine-time increase in scale from FY21 to FY23. 

The startup offers both B2B and D2R outlets in the construction material sectors. Infra.Market claims  to offer its services across 16 states in India while exporting its materials globally to other countries  including Italy, Singapore, Dubai, Jordan, and more. The startup data intelligence, the kredible  mentioned that the largest external stakeholder of the startup is Tiger Global with a 21.33 percent  stake, followed by Accel with 16.87 percent while Nexus Ventures accounts for 8.46 percent of the  total stake. This investment shows the trust of investors in Infra.market’s business model and market  potential. 

The company announced an 89 percent increase in its gross revenue to Rs 11,846 crore in FY23.  However, the profit declined to Rs 155 crore by 17 percent in the same duration. This Mumbai-based startup has secured a $520 million fund raised to date from all its debt and equity funding rounds. The  company aims to revolutionize the construction materials supply chain market locally and globally. Infra.market faces competition from other companies in this market such as Moglix, OfBusiness,  Zetwerk, and More.  

Conclusion: 

An Indian construction startup, Infra.Market raised $18 million in its debt funding round from  CredAvenue, IKF Home Finance, Raymond Limited, and Samunnati Financial. The startup offers  construction materials, technical equipment, and other services for construction purposes. The  company claims to supply its materials across 16 states across India and export its materials to other countries including Singapore, Dubai, Italy, and Jordan. The board at the company passed a special  resolution to allot NCCDs and raise Rs 150 crore. Before this debt funding round Tiger Global was the  largest external stakeholder of the startup with a 21.33 percent stake, followed by Accel with 16.87  percent while Nexus Ventures with 8.46 percent.