- Companies
- Infra.Market
Infra.Market Revenue, Valuation, Funding & Investors
Infra.Market is valued at $2.8B as of September 2025.
Last Infra.Market valuation
$2.8B
Series G · Sep 2025
Last Infra.Market funding round
$83M
Series G · Sep 2025
Infra.Market revenue
$1B
Undisclosed stage · Jun 2022
Key investors in Infra.Market
Tiger Global
Accel
Nexus Venture Partners
Evolvence India Fund
Foundamental
Sistema Asia Capital
About Infra.Market
Infra.Market is a Delhi-based construction materials platform supplying cement, steel, aggregates, and ready-mix concrete to builders across India. The company operates warehouses in multiple states and uses logistics technology for just-in-time delivery to residential and commercial projects. Founded in 2016, Infra.Market serves developers like Godrej Properties and scales through automated procurement systems nationwide.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Revenue
$1B (Jun 2022)
Valuation
$2.8B (Sep 2025)
Infra.Market Valuation
Infra.Market is currently valued at $2.8B, based on its Series G in September 2025.
The $83M round was led by Silver Line Homes, with participation from Evolvence India Fund, NKSQUARED, Tiger Global, Accel and Nexus Venture Partners.
Infra.Market's valuation has grown 16x from $170M at its Series B in December 2020 to $2.8B in September 2025, across 6 priced rounds.
Infra.Market valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2025 | Series G | $2.8B | - |
| Jan 2025 | Series F | $2.8B | - |
| Jun 2022 | Undisclosed stage | $4B | 4.0x |
| Aug 2021 | Series D | $2.5B | - |
| Feb 2021 | Series C | $1B | - |
| Dec 2020 | Series B | $170M | 4.6x |
Infra.Market Revenue
Infra.Market's latest recorded revenue is $1B, as of its undisclosed-stage round in June 2022. At a $4B valuation, that implies a 4.0x revenue multiple.
Revenue grew from $37M in December 2020 to $1B in June 2022, while the revenue multiple moved from 4.6x to 4.0x.
Infra.Market revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2022 | $1B | $4B | 4.0x | Undisclosed stage |
| Dec 2020 | $37M | $170M | 4.6x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Infra.Market Funding History
Infra.Market has raised a total of $578M across 10 funding rounds.
Infra.Market's first fundraising round was a $4M seed round in June 2019. The most recent completed round was a $83M Series G in September 2025.
Infra.Market funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2025 | Series G | Silver Line Homes (lead); Evolvence India Fund; NKSQUARED; Tiger Global; Accel; Nexus Venture Partners | $83M | $2.8B | Infra.Market is a Thane-based construction materials platform founded in 2016 by Aaditya Sharda and Souvik Sengupta, operating an online marketplace connecting suppliers of building materials like ready-mix concrete, tiles, and paints with real estate developers, contractors, and architects. It has expanded to 250 manufacturing units across 55 cities in India, with private-label manufacturing contributing two-thirds of sales, and has made acquisitions including RDC Concrete, Shalimar Paints, Emcer Tiles, and a majority stake in Metro Group. In September 2025, Infra.Market raised approximately $83 million (Rs 732 crore) in its Series G pre-IPO funding round, led by Silverline Homes (Rs 250 crore, linked to co-founder Aaditya Sharda) with participation from Nikhil Kamath’s family office NKSquared (Rs 200 crore), Tiger Global (Rs 176 crore), Accel, Evolvence India, and Nexus Venture Partners. The round values the company at around $2.7 billion (Rs 24,600 crore) per media reports, or $2.8 billion per regulatory filings, unchanged from its January 2025 Series F round of $120-121 million. Founders infused capital to raise their stake to nearly 30%, qualifying as promoters ahead of an anticipated $500-700 million IPO targeting $3-5 billion valuation. For FY24, Infra.Market reported revenue of Rs 14,530 crore (up 23% YoY) and profit after tax of Rs 378 crore (up 144% YoY), with over 80% from B2B sales. Over 80% of revenue derives from B2B offerings, supported by expansion into Tier II/III cities, technology-driven supply chain, and a strong dealer network. The company previously raised $50 million debt in June 2025 and plans further Rs 1,250 crore debt for refinancing, capex, and M&A; total funding to date about $700 million. As it prepares for IPO with SEBI nod and upcoming DRHP filing, the funding bolsters liquidity and market positioning as India's first multi-product, multi-channel building materials platform. |
| Jan 2025 | Series F | Evolvence India Fund; Capri Global Capital; Foundamental; Tiger Global; Nikhil Kamath | $121M | $2.8B | Infra.Market is a technology-enabled platform supplying construction materials including concrete, steel, pipes, plywood, fans, lights, kitchen and electrical appliances to real estate developers, contractors, and architects, with a pan-India manufacturing and distribution network serving projects like Mumbai Metro and Apple's Foxconn factory. It has expanded retail to over 10,000 touchpoints and 30 flagship stores. In FY25, consolidated revenue from operations reached INR 18,472 crore, up 27% YoY from INR 14,530 crore in FY24, driven by structural products (INR 11,176 crore, over 60%), finishing products (INR 1,924 crore), lifestyle segment (INR 2,487 crore), and allied services (INR 2,884 crore). Net profit fell 42% to INR 219.7 crore from INR 378 crore in FY24 amid rising expenses: total expenses INR 18,249.6 crore (up from INR 14,272.3 crore), employee costs up 41% to INR 563.6 crore, finance costs up 45% to INR 804.8 crore, cost of materials INR 5,402.4 crore, and stock-in-trade purchases INR 8,440.7 crore. The company filed for a Rs 5,000-crore IPO with SEBI using the confidential route and received approval in January 2026. A separate pre-IPO round in September 2025 raised nearly Rs 732 crore from promoters and existing shareholders including founders' Silverline Homes (Rs 250 crore) and Nikhil Kamath's NK Squared (Rs 200 crore), valuing the company at around $2.8 billion. An earlier pre-IPO round raised Rs 1,050 crore at Rs 24,147 crore estimated valuation per RoC filing, with FY24 revenue of Rs 14,530 crore. No details match the queried January 2025 round investors or $121 million amount. |
| May 2024 | Undisclosed stage | MARS Unicorn Fund (lead) | $50M | - | Infra.Market is a Mumbai/Thane-based construction materials provider founded in 2016 by Souvik Sengupta and Aaditya Sharda, offering over 15 categories of products including concrete, steel, pipes, plywood, fans, lights, and appliances to institutional B2B customers and retail D2R outlets across 20 Indian states and exports to markets like Dubai, Singapore, and Italy. The company leverages technology for procurement, quality control, supply chain visibility, and aims to create India's largest multi-product construction materials brand while targeting the $140 billion market with a focus on infrastructure amid India's $2 trillion National Infrastructure Pipeline. On May 28, 2024, Infra.Market raised $50 million (approximately Rs 416 crore) from MARS Unicorn Fund, a joint venture of AI-driven Liquidity Group and Japan's MUFG, structured as primary fundraising with both debt and equity via its Singapore unit, valuing the company at $2.5 billion—the same as its 2021 Series C led by Tiger Global. This doubles MARS' total investment to $100 million following a prior $50 million in 2022, with funds earmarked for global expansion, new markets, enhanced technological offerings, and product verticals; Northcote Luxe FinBrokers advised the deal. Backed by investors like Accel, Nexus, and Tiger Global, Infra.Market has grown retail supply in the last 12 months via flagship and dealership stores, claims profitability, and recently sold 10% of subsidiary RDC Concrete for $20 million to public investors in December 2023. MARS' commitment reflects AI-driven assessments of Infra.Market's financial integrity, execution, and high-growth potential in late-stage financing. |
| Jun 2022 | Undisclosed stage | Mars Growth Capital (lead) | $50M | $4B | Infra.Market is a Mumbai-based B2B construction materials platform founded in 2016 by Souvik Sengupta and Aaditya Sharda, supplying over 15 categories including concrete, steel, pipes, plywood, fans, lights, and appliances to institutional clients and retail stores across 20 Indian states and exports to Dubai, Singapore, Italy, and more. It leverages technology for quality control, supply chain visibility, price transparency, and addressing fragmented vendor issues. In June 2022, it raised $50 million in a growth capital round from Mars Growth Capital (Liquidity Group's MARS Unicorn Fund), at a post-money valuation of $2.5 billion, matching its prior 2021 valuation; funds aimed to expand into new global markets, product verticals like chemicals, and increase presence. At the time of the round, Infra.Market reported over $1 billion in annual revenue, with more than half from its own brands, 5X year-on-year growth in India, and exports comprising over 25% of revenue across 10+ countries; it projected revenue to more than double by year-end and export business to reach over $750 million. The company had previously raised $125 million led by Tiger Global in 2021 at the same $2.5 billion valuation. This 2022 investment was the first tranche of what became a $100 million total commitment from Mars Unicorn Fund and Liquidity Group by 2024. Infra.Market operates a dual model of flagship and dealership stores for retail, focuses on high-volume own-brand products, and has since expanded production via investments in facilities for paints, tiles, concrete, and blocks. Later rounds included a May 2024 $50 million additional tranche from Mars Unicorn Fund (total $100 million structured with debt and equity), a $121 million Series F in January 2025 at $2.8 billion valuation for IPO prep, and further financings, with FY24 revenue at Rs.14,530 crore (up from Rs.11,846.5 crore in FY23) and profit after tax at Rs.378 crore. |
| Aug 2021 | Series D | Tiger Global (lead) | $125M | $2.5B | Infra.Market is an Indian B2B startup headquartered in Mumbai that helps construction and real estate companies procure materials and manage logistics for projects. Founded five years prior to 2021, it disrupts traditional supply chains, particularly during the pandemic, by becoming a key partner for buyers. The company raised $125 million in its Series D round on August 3, 2021, led by Tiger Global, which also led the prior Series C in February 2021. This valued Infra.Market at a post-money $2.5 billion, up from $1 billion post-Series C and $200 million in December 2020. Previous investors include Nexus, Foundamental, and Accel Partners; total funding to date was about $275 million. Tiger Global partner Scott Shleifer highlighted the team's exceptional growth and disruption in the construction materials industry. Infra.Market plans to use the funds to expand into new markets, categories, and business verticals within the construction ecosystem, aiming for end-to-end solutions across project lifecycles. It is rapidly growing buyer wallet share by expanding product portfolios and market presence. The startup expects to surpass $1 billion in sales by the end of 2021. |
| Feb 2021 | Series C | Tiger Global (lead); Evolvence India Fund; Sistema Asia Capital; Foundamental; Accel; Nexus Venture Partners | $100M | $1B | Infra.Market is an Indian startup founded in 2016 that provides construction materials procurement, logistics, and related services to construction and real estate companies, aiming to digitize supply chains and offer end-to-end solutions. It operates private-label brands across categories like concrete, walling products, paint, electricals, and tiles, focusing on B2B high-volume products. In February 2021, it raised approximately $100 million in a Series C round led by Tiger Global, reaching unicorn status with a post-money valuation of $1 billion, following prior rounds including a $20M Series A in December 2019 from Nexus, Tiger Global, and Accel. The February 2021 round included investments from investors matching the query such as Accel, Nexus Venture Partners, and others like Tiger Global as lead, with Sistema Asia Capital and Foundamental also associated in broader investor lists. This marked a significant jump from $200 million valuation in December 2020. The funds supported scaling operations, nationwide expansion, engineering teams, and supply chain enhancements amid pandemic-disrupted traditional channels. Post this round, Infra.Market continued rapid growth, raising a $125M Series D in August 2021 led by Tiger Global at $2.5B post-money valuation, with plans to surpass $1B in sales by end-2021, expand geographies, product categories, and pursue acquisitions. The company has since pursued inorganic growth via acquisitions like RDC Concrete in 2021 and prepared for IPO with later rounds at $2.8B valuation. |
| Dec 2020 | Series B | Evolvence India Fund (lead); Sistema Asia Capital; Foundamental; Tiger Global; Accel; Nexus Venture Partners | $20M | $170M | Infra.Market is a Mumbai-based B2B online procurement marketplace for construction and real estate materials, leveraging technology for fair pricing, logistics, and project management. It operates in India and exports to countries like UAE, Singapore, Malaysia, and Bangladesh, with international sales at 10% of revenue. The company launched a subsidiary Hella Infra Market Retail in Oct 2019 for direct-to-retail expansion. On Dec 10, 2020, Infra.Market raised $20M in a Series B round led by Evolvence India Fund, with participation from Sistema Asia Fund, Foundamental, and existing investors Accel, Tiger Global, and Nexus Venture Partners, bringing total funding to about $50M. Funds were allocated to expand into new markets, deepen penetration in smaller Indian cities, grow private label brands from 40% to 70% of sales for higher margins, and boost direct-to-retail and international presence across 10 Indian states. For FY20 (Apr 2019-Mar 2020), Infra.Market reported revenue of INR 350 Cr, up 5.5x from INR 63 Cr in FY19, driven by operational income of INR 348.7 Cr mostly from product sales. Expenses rose to INR 339 Cr, yielding profit of INR 8.59 Cr, marking the fourth straight profitable year since 2016 incorporation; consolidated figures with subsidiary were INR 352 Cr revenue and INR 8.65 Cr profit. Around the Dec 2020 round, co-founder stated the company was on track for $100M ARR pre-pandemic, recovered post-lockdown to $180M ARR by late 2020, targeting $300M by Mar 2021. It maintained profitability amid COVID, with faster recovery in Tier 2 cities, and focused on scaling private labels for 15%+ margins while planning software services integration. |
| Jun 2020 | Series A | Trifecta Capital Advisors (lead) | $5M | - | Infra.Market raised $5.4 million in an equity and debt mix round from Trifecta Capital in June 2020 to support growth. Post-issue, Trifecta held a 0.33% stake. The company, founded in 2016 by Aaditya Sharda and Souvik Sengupta, aggregates demand and matches it with the supply chain, offering wholesale pricing on construction materials along with affordable credit for small businesses. It had expanded geographically from Bengaluru, Pune, and Mumbai to Tier II cities. |
| Dec 2019 | Series A | Nexus Venture Partners (lead); Tiger Global (lead); Accel | $20M | - | Infra.Market is a technology-enabled B2B marketplace connecting construction and real estate companies with building materials manufacturers, offering procurement, logistics, and private label brands. It works with over 170 small manufacturers and serves major clients like Larsen & Toubro, Tata Projects, and Ashoka Buildcon, as well as 400 large clients and 3,000 small retailers. The company expanded into Tier II cities like Hyderabad, Chennai, and Ahmedabad with early funding and began B2B2C expansion in FY2019 with products like AAC blocks sold through dealer networks. The specified round around February/December 2019 involved investors Accel, Nexus Venture Partners, and Tiger Global, described variably as $20 million, $26 million (including $6M venture debt), or Rs150 crore Series A. By December 2019, the company raised these funds to fuel geographic expansion and compliance support for small manufacturers. Later traction included on-track ARR of $100 million pre-COVID (disrupted by lockdowns), recovering to $180 million by late 2020 and targeting $300 million. In 2020, revenues reached 350 crore with profitability of 8.59 crore, shifting private label sales to 70% for 15%+ margins. Subsequent rounds valued it at $200 million post-money in Series B (December 2020) and $1 billion in Series C (February 2021). Recent developments show FY24 revenue of Rs14,530 crore, EBITDA Rs1,050 crore, and preparations for a $700M IPO at $3-5 billion valuation. |
| Jun 2019 | Seed | Accel (lead) | $4M | - | Infra.Market raised $3.5 million (about Rs 25 crore) in a seed funding round from Accel in August 2019. Other sources confirm a similar Rs 25 crore seed round from Accel around mid-2019, with one noting $3.7 million. The company is a technology-enabled marketplace providing construction materials and solutions to real estate and construction firms. |
Who has invested in Infra.Market?
13 investors have backed Infra.Market across its funding rounds, including Tiger Global, Accel, Nexus Venture Partners, Evolvence India Fund, Foundamental and Sistema Asia Capital.
Lead investors include Silver Line Homes, MARS Unicorn Fund, Mars Growth Capital, Tiger Global, Evolvence India Fund and 3 other investors.
Infra.Market Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 6 | Lead | Dec 2019 | ||
| 5 | Lead | Jun 2019 | ||
| 4 | Lead | Dec 2020 | ||
| 4 | Lead | Dec 2019 | ||
| 3 | Participant | Dec 2020 | ||
| 2 | Participant | Dec 2020 | ||
| 1 | Participant | Sep 2025 | ||
| 1 | Participant | Jan 2025 | ||
| 1 | Lead | May 2024 | ||
| 1 | Lead | Jun 2020 | ||
| 1 | Participant | Jan 2025 | ||
This data is available for Pro users. Sign up to see all 13 Infra.Market investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Infra.Market
Infra.Market has acquired 4 companies to date.
Last acquisition by Infra.Market was on July 8th 2025. Infra.Market acquired Metro Group for $23M.
Latest Acquisitions by Infra.Market
| Description | Metro Group is a ceramic tiles manufacturer producing glazed vitrified, polished, and wall tiles for residential and commercial flooring. Headquartered in Morbi, Gujarat, India, the company operates multiple production facilities with annual capacity exceeding 20 million square meters. It exports to Middle East and Africa markets under brands focused on durability and design variety. | Strata Geosystems is an India-headquartered geosynthetic manufacturer with global operations, producing geogrids, geocells, geocomposites, and drainage systems for civil engineering applications. The company supplies solutions for road reinforcement, soil stabilization, erosion control, and mining projects in over 50 countries, including major infrastructure works in Asia and the Middle East. | RDC Concrete is a Hyderabad-based supplier of ready-mixed concrete in India. The company operates batching plants across Telangana and Andhra Pradesh, producing mixes compliant with Indian Standards through in-house laboratories. Its logistics network ensures timely delivery for infrastructure projects, serving clients in residential, commercial, and public sector construction. | Equiphunt runs a peer-to-peer marketplace for construction equipment rentals, matching owners with nearby projects to minimize transport costs. The platform handles listings for excavators, lifts, and tools, with insurance verification, payment processing, and site proximity search for U.S. contractors. |
| HQ Country | ||||
| HQ City | Morbi | Mumbai | Mumbai | Hyderabad |
| Deal Date | 8 Jul 2025 | 26 Jun 2023 | 20 Sep 2021 | 30 May 2021 |
| Valuation | $23M | $122M | $100M | $10M |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all Infra.Market acquisitions and their M&A valuation multiples. Start Free Trial | ||||
Investments by Infra.Market
Infra.Market has invested in 1 company to date.
Latest investment by Infra.Market was on July 1st 2022. Infra.Market invested in Brik in their $3M Seed round.
Latest Investments by Infra.Market
| Description | Brik operates as a Jakarta-based marketplace aggregating construction materials like cement, steel, tiles, and plumbing supplies, connecting small and midsize contractors with nationwide vendors for streamlined procurement, pricing transparency, and delivery logistics in Indonesia. |
| HQ Country | |
| HQ City | Jakarta |
| Deal Date | 1 Jul 2022 |
| Round | Seed |
| Raised | $3M |
| Investors | Analog Capital; Alternate Ventures; AC Ventures; Accel Atoms |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Infra.Market investments and their VC round multiples. Start Free Trial | |
Infra.Market Competitors
Infra.Market competitors include listed companies like Beijing United and Alibaba Group, and private ones like Moglix, Tuduoduo, GrubMarket and Dutchie.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $2.5B | - | ||
| Private | - | - | $2.3B | - | ||
| Private | - | - | $3.5B | - | ||
| Publicly listed | $7.6B | $373M | $2.2B | 0.2x | ||
| Private | $45M | - | $3.8B | 83.3x | ||
| Publicly listed | $153B | $15B | $266B | 1.6x |
Infra.Market Public Comps
Infra.Market is still privately-owned, but its public comps include Ocado Group, Beijing United, Inchcape, ACV Auctions, Modivo, Focus Technology, Revolve Group, Openlane, Syoung Group and Gold.com.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.9B | $135M | 2.0x | 1.8x | 27.3x | 8.0x | |||
| $7.6B | $373M | 0.3x | 0.2x | 5.9x | 5.5x | |||
| $12B | $867M | 0.4x | 0.4x | 5.4x | 5.0x | |||
| $760M | ($19M) | 2.3x | 2.1x | (89.6x) | 24.8x | |||
| $2.9B | $224M | 1.0x | 0.9x | 12.8x | 7.3x | |||
| $286M | $83M | 4.3x | 3.9x | 14.7x | 13.7x | |||
| $1.2B | $89M | 1.0x | 0.9x | 13.6x | 12.9x | |||
| $1.9B | $302M | 2.4x | 2.2x | 15.2x | 12.2x | |||
This data is available for Pro users. Sign up to see all Infra.Market competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Infra.Market
| When was Infra.Market founded? | Infra.Market was founded in 2016. |
| Where is Infra.Market headquartered? | Infra.Market is headquartered in Mumbai, India. |
| Is Infra.Market publicly listed? | No, Infra.Market is a private, VC-backed company. |
| What is Infra.Market's valuation? | Infra.Market was last valued at $2.8B in its Series G in September 2025. |
| How much funding has Infra.Market raised? | Infra.Market has raised $578M across 10 funding rounds. |
| What was Infra.Market's last funding round? | Infra.Market's last funding round was a $83M Series G in September 2025, led by Silver Line Homes. |
| Who are Infra.Market's investors? | Infra.Market's investors include Tiger Global, Accel, Evolvence India Fund, Nexus Venture Partners, Foundamental, Sistema Asia Capital, NKSQUARED, Capri Global Capital, MARS Unicorn Fund, Trifecta Capital Advisors and 3 others. |
| What is Infra.Market's revenue? | Infra.Market's latest recorded revenue is $1B (June 2022). |
| What is Infra.Market's revenue multiple? | Infra.Market's latest valuation implies a 4.0x revenue multiple ($4B valuation on $1B of revenue). |
| Which companies are comparable to Infra.Market? | Companies comparable to Infra.Market include Moglix, Tuduoduo, GrubMarket, Beijing United, Dutchie and Alibaba Group. |
| How many companies has Infra.Market acquired? | Infra.Market has acquired 4 companies, including Metro Group, Strata Geosystems, RDC Concrete and Equiphunt. |
| What was the largest acquisition by Infra.Market? | The $122M acquisition of Strata Geosystems in June 2023 is the largest acquisition Infra.Market has made to date. |
| How many companies has Infra.Market invested in? | Infra.Market has invested in 1 company, including Brik. |
| What was Infra.Market's last investment? | In July 2022, Infra.Market invested in Brik's $3M seed round alongside Analog Capital, Alternate Ventures, AC Ventures and 1 other investor. |
See companies similar to Infra.Market
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




