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Exclusive: Infra.Market raises Rs 150 Cr debt led by Yubi

EntrackrEntrackr · 1y ago
Exclusive: Infra.Market raises Rs 150 Cr debt led by Yubi
Medial

Infra.Market has secured Rs 150 crore (approximately $18 million) in debt financing over the past two months. The debt infusion for the Mumbai-based firm follows the $50 million equity round from the Mars Unicorn Fund — a joint venture of Liquidity Group and MUFG. The board at Infra.Market has approved a special resolution to issue non-convertible redeemable debentures to raise Rs 150 crore. Previously, the committee had approved a resolution to raise up to Rs 500 crore through debentures. The new infusion is the tranche of Rs 500 crore. Yubi has invested Rs 80 crore while Raymond Limited, IKF Home Finance, and Samunnati Financial participated with Rs 25 crore, Rs 25 crore, and Rs 20 crore, respectively. Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market sells construction materials, infrastructure goods, and technical equipment. It is targeting the growing 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 also exports to markets such as Dubai, Singapore, Jordan, and Italy, among others. To date, Infra.Market has raised around $520 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 own 16.87% and 8.46%, respectively, before this round. While the company is yet to file its annual statements for FY24, Infra.Market’s gross revenue rose 89% to Rs 11,846 crore in FY23. Tiger global-backed firm’s profit slipped 17% to Rs 155 crore in the same period (FY23). Infra.Market’s competition includes OfBusiness, Moglix and Zetwerk, among others. OfBusiness recorded nearly Rs 20,000 crore in revenue and Rs 603 crore profit in FY24. Entrackr exclusively reported the firm’s financial numbers on July 8. Meanwhile, Zetwerk and Moglix are yet to report last fiscal year (FY24) numbers.

Eco-friendly packaging firm Cirkla raises $3 million in funding from Matrix Partners, Stellaris Venture

Economic TimesEconomic Times · 1y ago
Eco-friendly packaging firm Cirkla raises $3 million in funding from Matrix Partners, Stellaris Venture
Medial

Cirkla, a US-based sustainable packaging company, has secured $3 million in a pre-seed funding round led by Matrix Partners India and Stellaris Venture Partners. The startup, founded earlier this year, offers eco-friendly packaging solutions to brands, helping them evaluate the environmental impact of packaging and create sustainable alternatives. Cirkla plans to use the funds to expand operations, enhance its salesforce, and invest in innovative technologies. The company aims to capitalize on the growing sustainable packaging sector, projected to exceed $500 billion by 2030. It follows a three-step strategy, including evaluating brand portfolios, creating designs, and managing global distribution.

Bambrew raises Rs 90 Cr led by Ashok Goel and Enrission India Capital

EntrackrEntrackr · 16d ago
Bambrew raises Rs 90 Cr led by Ashok Goel and Enrission India Capital
Medial

Bambrew raises Rs 90 Cr led by Ashok Goel and Enrission India Capital Bambrew, the Bengaluru-based meta-material innovation company specializing in sustainable packaging solutions, has raised Rs 90 crore (about $10.3 million) round led by Ashok Goel, former Managing Director of Essel Propack, along with Japanese venture capital firm ENRISSION INDIA CAPITAL. Prior to this, the company had raised $11.8 million from Blume Ventures and others. The proceeds will be utilized to accelerate innovation, scale manufacturing, and expand its presence in global markets including the Middle East and North America, according to a press release by Bambrew. Founded in 2019 by Vaibhav Anant, Bambrew develops planet-positive, high-performance alternatives to single-use plastics using bamboo fiber, agro-waste, seaweed, recycled paper, and other natural resources. Its proprietary materials are home-compostable, durable, and scalable—designed to meet modern commerce demands without environmental compromise. Over the past year, Bambrew has expanded its product portfolio from garment bags and mailer bags to sustainable mango box packaging, reaching customers across sectors like FMCG, e-commerce, personal care, and food and beverages. With solutions such as high-barrier, plastic-free laminates and aluminum-free recyclable films, the company is helping over 500 brands transition away from traditional plastic and foil-based packaging. Bambrew plans to launch its direct-to-consumer (D2C) range, bringing its sustainable material innovation directly to environmentally conscious consumers. The new line of everyday packaging essentials will be available in the marketplace in the coming months. The company aims to achieve a revenue milestone of Rs 120 crore and profitability within the next 12 months. Bambrew also plans to diversify its product portfolio to serve fast-moving sectors like quick commerce and personal care, with a focus on performance-grade packaging materials that are both compostable and recyclable.

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