Venture Capital: Tiger Global To Invest $125M In Indian Tech Startup Infra.Market (Bloomberg)

August 2, 2021 | News, Venture Capital

The deal values Infra.Market at $2.5 billion, insiders told Bloomberg.

Tiger Global Management has reportedly agreed to invest an additional $125 million in Infra.Market, an Indian startup and B2B online procurement platform that helps construction companies save 5%-7% of their input costs. The transaction values the startup at $2.5 billion. (Bloomberg)

That valuation is a solid jump considering Infra.Market was valued at around $1 billion in February in a Series C round led by Tiger Global. Existing investors such as Accel Partners, Nexus Venture Partners, Evolvence India Fund, Sistema Asia Fund, and Foundamental Gmbh, too, participated in that  fundraising amounting $100 million.

Founded in 2016, Infra.Market has been profitable for the last four years. It currently has GMV of $400 million and is targeting a GMV of $1 billion in the current year. The company says the addressable construction material market is worth $140 billion – however it is particularly interested in the infrastructure sector.

The Indian government, in its budget this year, boosted allocations to infrastructure projects by 34%.

An informed person told Bloomberg confidentially that Infra.Market would use the funding to expand its reach in the domestic market.

An announcement of the funding may come as soon as Monday, Bloomberg said.

Related Story:  Use Of AI To Monitor Construction Progress                                                  

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Digital Assets: MicroStrategy’s Saylor, El Salvador’s Bukele Both Buy The Bitcoin Dip
November 30, 2021     Digital Assets, Latest News, News

Path-breaking corporate bitcoin investor MicroStrategy (NASDAQ: MSTR) said in a filing Monday that it purchased approximately 7,002 bitcoins for about $414.4 million in cash, or $59,187 per coin, between October…
FinTech: London-Listed, Global Fintech Wise To Expand Its North America Business
November 30, 2021     FinTech, News

Wise (LON: WISE), the global payments processor previously known as TransferWise, announced a 2022 expansion plan for its operations in North America given its solid growth in the half year…
Alternative Investments/Real Estate: UOB Launches APAC-Focused, Green REIT ETF

Singapore’s United Overseas Bank ( UOB ) Asset Management has launched the UOB APAC Green REIT ETF (GRE SP), which has been listed on Singapore Exchange and provides ESG-tilted exposure…
Venture Capital: European VC Fund Partech Closes $750M Second Growth Fund
November 30, 2021     News, Venture Capital

Partech, which invests its venture capital in tech and digital companies at all stages in Europe, North America, Africa and Asia, announced today the close of its second fund at…