B2B e-commerce firm Infra.Market raises $125 million from Tiger Global

Construction materials marketplace Infra.Market said on August 3 that it has raised $125 million from existing investor Tiger Global Management, valuing it at $2.6 billion- a jump of nearly three times in just over three months.

Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market is a business-to-business (B2B) e-commerce firm, running a brand of construction material, concrete and chemicals used in infrastructure projects. It ties up with contract manufacturers, gets them to utilise idle capacity and manufacture products under its own brand, which it then sells to large infrastructure companies and retail outlets.

Infra.market said it is solving for a lack of price transparency, unreliable quality, a fragmented vendor base and inefficient logistics from a customer's view, while for suppliers, it ensures higher capacity utilization, steady demand and better customer reach. It said it will cross a billion dollars in sales by the end of 2021.

"We are delighted to double-down on our investment in Infra.Market. The team has demonstrated exceptional growth and continues to disrupt the construction materials industry. Over the past year, Infra.Market has become the go-to partner, especially during the pandemic when the traditional supply chains were disrupted," said Scott Shleifer, Partner.