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Infra.Market bags ₹1,050 crore at $2.8 billion valuation

Inshorts · 5m ago

Infra.Market bags ₹1,050 crore at $2.8 billion valuation

IPO-bound Infra.Market has raised ₹1,050 crore in its pre-IPO round at a valuation of about $2.8 billion, a jump of over 10% from its valuation of $2.5 billion during the previous funding round. The fundraise, termed as its Series F round, saw participation from existing investors Tiger Global, Foundamental GmbH, Evolvence, among others.

Related News

IPO-bound Infra.Market raises fresh capital after mopping up over $120 mn

VCCircle

VCCircle · 1m ago

IPO-bound Infra.Market raises fresh capital after mopping up over $120 mn

Building materials platform Infra.Market has secured fresh equity capital ahead of its planned IPO, following a pre-IPO funding round that valued the company at $2.8 billion. The Mumbai-based company, operated by Hella Infra Market Ltd, managed to raise over $120 million.

Exclusive: Construction Unicorn Infra.Market Looks To Raise $60 Mn Debt

Inc42 · 1y ago

Exclusive: Construction Unicorn Infra.Market Looks To Raise $60 Mn Debt

Mumbai-based construction startup Infra.Market plans to raise around $60 million (INR 500 crore) in debt over the next two months. The company aims to secure working capital ahead of this year. This announcement follows Infra.Market's recent debt funding of $12 million from SK Finance and Kairus Dadachanji. In FY23, the startup achieved sales of INR 11,846.5 crore, a 90% increase from the previous year, but saw a 17% drop in net profit to INR 155.2 crore. With a valuation of $2.5 billion, Infra.Market has raised over $600 million in funding so far.

PhysicsWallah’s valuation to soar 2.5x to $2.8 bn in new funding

The Arc Web

The Arc Web · 9m ago

PhysicsWallah’s valuation to soar 2.5x to $2.8 bn in new funding

Edtech firm Physics Wallah is close to raising a $150 million fundraising round led by hedge fund Hornbill Orchid, with participation from venture capital firm Lightspeed Venture Partners, at a $2.8 billion valuation. This would be a 2.5x jump in valuation for the profitable tech firm since its last round in 2022 when it raised $102 million at a $1.1 billion valuation.

A23 touches Rs 1,050 Cr revenue in FY23, profits surge 2.8X

Entrackr

Entrackr · 1y ago

A23 touches Rs 1,050 Cr revenue in FY23, profits surge 2.8X

Online rummy platform A23 has witnessed a rebound in its revenue, crossing Rs 1,000 crore in FY23, according to its consolidated financial statement. The revenue from operations increased by 45.4% to Rs 1,050 crore, and the company's profits grew 2.8 times to Rs 58 crore. With over 5 crore players, A23 offers five games and earned Rs 21.4 crore from non-operating income. The company's expenses increased by 39.2% to Rs 976 crore, while cash inflows from operations rose by 287% to Rs 130 crore.

Infra.Market raises $125 Mn led by Tiger Global

Entrackr

Entrackr · 5m ago

Infra.Market raises $125 Mn led by Tiger Global

Infra.Market raises $125 Mn led by Tiger Global Building materials platform Infra.Market is raising Rs 1,049 crore (around $125 million) in its Series F funding round. This follows the completion of the final tranche of its Series E round in September 2024. The board at Infra.Market has passed a special resolution to issue 49,149 compulsory convertible preference shares at an issue price of Rs 2,13,439 each to raise Rs 1,049 crore or $125 million, its regulatory filing sourced from the Registrar of Companies shows. The Rs 1,049 crore Series F funding round appears to be a pre-IPO initiative, structured in two tranches: Rs 498 crore (Series F) and Rs 551 crore (Series F1), respectively. According to the filings, the first tranche of Rs 498 crore ($60 million) is led by Tiger Global, contributing Rs 211 crore, with additional participation from Evolvence Group and Fundamental Fund, which invested Rs 168 crore and Rs 119 crore, respectively. This marks a significant investment from existing investor Tiger Global, especially given its relatively low activity in recent times. For context, Tiger Global made only two investments in 2024—Wiz Freight and Jupiter’s NBFC arm—both as an existing investor. The second tranche of Rs 551 crore is yet to be completed. Capri Global, Eudora Ventures, Kangaro Industries, SVV Limited, Premratan Exports, and Verity Knowledge, along with individual investors Ashish Kacholia, Nikhil Kamath, Abhijit Pai, Sumeet Kanwar, Nuvama, Dimpy Kanwar, and Sapna Vig, are expected to participate. Tiger Global, Evolvence, and Fundamental Fund may also contribute to this tranche. According to Entrackr’s estimates, the company has been valued at around Rs 24,000 crore or $2.8 billion post-allotment. Infra.Market, through its platform, offers a range of building material products, including Structural Products (Concrete, Steel, Construction Chemicals), Finishing Products (AAC blocks, MDF, Plywood, Pipes and Fittings), and Lifestyle Products (Tiles, Sanitaryware, Laminates, Paints, Fans, Lights, Appliances, Modular Kitchens, Consumer Durables). Infra.Market generates revenue from the sale of the aforementioned products. Its consolidated gross revenue rose to Rs 14,530 crore in FY24 from Rs 11,847 crore in FY23. The firm also reported a 2.4X jump in its profit to Rs 378 crore in the last fiscal year.

Infra.Market bags ₹185 crore debt funding

Inshorts · 11m ago

Infra.Market bags ₹185 crore debt funding

B2B ecommerce platform Infra.Market has raised ₹185 crore (about $22 Mn) in debt funding from multiple investors. As per the startup’s filings with the Registrar of Companies (RoC), it raised the debt from digital lending unicorn Yubi (formerly CredAvenue), agriculture financing platform Samunnati, Vivriti Capital, among others, by issuing non-convertible debentures.

Infra.Market raises $50 Mn from Mars Unicorn Fund

Entrackr

Entrackr · 1y ago

Infra.Market raises $50 Mn from Mars Unicorn Fund

Infra.Market has raised $50 million from MARS Unicorn Fund which is a joint venture of Liquidity Group and MUFG. With this, MARS and Liquidity investment in the company touched $100 million. The two funds previously invested $50 million in Infra.Market in 2022. While the company didn’t disclose its valuation in fresh funding, Infra.Market was reportedly valued at $4 billion in 2022. Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market sells construction materials, infrastructure goods, and technical equipment. It is targeting the $140 construction materials market, with a strong focus on the infrastructure sector. The company caters to both institutional customers (B2B) and retail outlets (D2R) in the construction materials sector. As per the company, it supplies across 16 states in India and exports to markets such as Dubai, Singapore, Jordan, and Italy, among others. Last year, Infra.Market had divested 10% of its stake worth $20 million in RDC Concrete to investors led by Ashish Kacholia. The former had acquired RDC Concrete for $90 million in September 2021. It also has a majority stake in Strata Geosystems, Equiphunt and Halonix. As of now, Infra.Market has raised around $500 million across equity and debt. According to the startup intelligence data platform TheKredible, Tiger Global was the largest external stakeholder with 21.33% followed by Accel and Nexus Ventures which commanded 16.87% and 8.46%, respectively, before this round. Infra.Market is one of the handful of unicorns in the country which managed over nine-fold growth in gross scale between FY21 and FY23 and remained profitable. As per TheKredible, its gross revenue rose to Rs 11,846 crore in FY23 from Rs 1,240 crore in FY21. During the fiscal year ending March 2023, the firm’s profit slipped 17% to Rs 155 crore from Rs 187 crore in FY22. It competes with Zetwerk, OfBuisness and Moglix.

With IPO On The Card, Infra.Market Plans Fresh Funding Of Up To $200 Mn At Higher Valuation

Inc42 · 9m ago

With IPO On The Card, Infra.Market Plans Fresh Funding Of Up To $200 Mn At Higher Valuation

B2B ecommerce platform Infra.Market is seeking a new funding round of $150-200 million. Current investors, such as Tiger Global, Foundamental, and Evolvence, are expected to contribute the majority of the funding, potentially increasing their stake in the company. The valuation for this round is still being negotiated but is expected to be higher than the $2.5 billion valuation achieved in the company's previous fundraise in 2021.

Lightspeed-backed edtech unicorn PhysicsWallah sinks deeper into the red in FY24

VCCircle

VCCircle · 7m ago

Lightspeed-backed edtech unicorn PhysicsWallah sinks deeper into the red in FY24

Edtech unicorn PhysicsWallah, backed by Lightspeed Venture Partners, reported a wider loss of Rs 1,131 crore for the financial year ending March 2023, largely due to non-cash expenses. The company's operating income increased 2.6 times to Rs 1,940.4 crore, while total revenue reached Rs 2,015 crore. PhysicsWallah offers educational services to students preparing for entrance exams and has expanded into skill development and higher education courses. The company recently raised $210 million in funding, bringing its total funding to $310 million and valuation to $2.8 billion.

ShareChat to raise $60 Mn via convertible notes from Google, Lightspeed At $2.8 Bn valuation

Inc42 · 1y ago

ShareChat to raise $60 Mn via convertible notes from Google, Lightspeed At $2.8 Bn valuation

Indian social media platform ShareChat is reportedly in advanced talks to raise $60 million in funding from existing investors, including Google, Lightspeed, and Temasek. The funds will be raised through convertible notes with a discounted valuation of $2.8 billion. ShareChat had previously laid off 15% of its workforce, or around 200 employees, and is looking to reduce its burn rate. The startup was last valued at $4.9 billion in March 2022 and has raised over $1 billion in funding so far.

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