Infra.Market will raise $150 million from Varde Partners
ECONOMY & POLICY

Infra.Market will raise $150 million from Varde Partners

Infra.Market, a business-to-business construction material startup, is set to raise $150 million from Varde Partners. The funds will be raised through convertible instruments and will support the compan...

Infra.Market, a business-to-business construction material startup, is set to raise $150 million from Varde Partners. The funds will be raised through convertible instruments and will support the company's plans for an initial public offering (IPO). Other investors in Infra.Market include Accel Partners, Evolvence India, Sistema Asia Fund, Foundamental Gmbh, and Nexus Venture Partners. In 2022, the company raised $50 million in growth capital from Liquidity Group's MARS Unicorn Fund, valuing it at $2.5 billion.The convertible instruments will eventually be converted into equity shares when the company goes public. Infra.Market aims to enter the public markets within the next 18-24 months. A portion of the funds, around $100 million, will be used to acquire a majority stake in Strata Geosystems (India) from Glen Raven Inc., a US-based manufacturer of technical textiles. Strata Geosystems specialises in geosynthetic manufacturing and soil reinforcement technology, addressing infrastructure needs in areas such as retaining walls, reinforced soil slopes, embankments, and more.

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