Infra.Market raises Rs 100 cr debt funding from Alteria Capital

09 Jul 2021 CW Team

Construction materials marketplace Infra.Market has raised Rs 100 crore in venture debt funding from Alteria Capital.

The investment came after Infra.Market hit the unicorn status this year in February, raising $100 million in Series C round led by the existing trader Tiger Global with Accel, Nexus Venture Partner and Evolvence India Fund.

Alteria Capital is India's largest venture debt provider, having a corpus of Rs 2,300 crore in two funds. Recently, it has raised commitments of Rs 1,325 crore from domestic investors for its second venture debt funding.

Alteria Capital has backed companies like Rebel Food, Dealshare, BharatPe, Zestmoney, Spinny, Lendingkart, Dunzo, and Portea.

Infra.Market is a marketplace that uses technology to provide an enhanced procurement experience for people in the construction ecosystem. It provides products like ready-mix concrete, fly ash, and construction chemicals.

The company supplies institutional customers (B2B) and retail outlets (D2R) in the construction material industry. It supplies materials across ten states in India and exports to Dubai, Singapore, Bangladesh, and others.

In December 2020, Tiger Global participated when Infra.Market raised about Rs 144 crore as a part of its Series B funding from its three new investors, Evolvence India Fund, Sistema Asia Fund and Fundamental.

In December 2019, Infra.Market raised around Rs 144 crore in its Series A funding round led by Tiger Global.

Previously, Infra.Market had raised about Rs 25 crore in August 2019 in a seed funding round from Accel.

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Also read: Reliance Infrastructure to raise Rs 550 cr from promoters

Also read: Parinee Realty raises over Rs 325 cr for commercial project in Worli

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