Construction tech firm Infra.Market secures Rs 732 Cr funding by Nikhil Kamath

The Series G round was led by Nikhil Kamath’s family office, NKSquared, with a Rs 200-crore investment. Silverline Homes, a company associated with co-founder Aaditya Sharda, contributed Rs 250 crore, making it the largest check in the financing round.

Tiger Global also participated with a Rs 176 crore commitment through its Internet Fund vehicle. Existing investors Accel, Evolvence India, and Nexus Ventures joined the round with smaller contributions.

Both founders, Souvik Sengupta and Aaditya Sharda, raised promoter financing to inject capital into this round, reports said.

The Thane-based startup operates an online marketplace connecting construction material suppliers with contractors and real estate developers. The latest round values the company at Rs 24,600 crore, according to reports.

Infra.Market plans to file its draft red herring prospectus (DRHP) with the market regulator within weeks, with an IPO expected later this year, according to Moneycontrol.

Beyond bolstering liquidity ahead of the IPO, the round is intended to increase the founders’ stake in the company to nearly 30%, officially classifying them as promoters.

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Construction-tech company Infra.Market gears up for $700M IPO as private labels drive growth

YourStory had earlier reported that Infra.Market is preparing for a $700 million IPO with an ambitious valuation target between $3 billion and $5 billion.

The company, currently valued at $2.7 billion, recently raised $120 million in a pre-IPO round in January.

Founded in 2016 by Sharda and Sengupta, Infra.Market has grown into a full-stack building materials platform, with 250 manufacturing plants across 55 cities and products spanning 15 categories. In FY24, revenues reached Rs 14,530 crore, with profit after tax rising to Rs 378 crore.

Its growth is fueled by private-label manufacturing, which now contributes two-thirds of sales, along with acquisitions like RDC Concrete, Shalimar Paints, and Emcer Tiles.

The company’s expansion into Tier II and III cities, technology-driven supply chain, and strong dealer network underline its IPO pitch as India’s first multi-product, multi-channel building materials platform.