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Deepti Sri · · 1 min readIndian B2B construction marketplace Infra Market nets $100m, attains unicorn status
“Mumbai-based Infra Market has joined the coveted unicorn club after raising US$100 million (over 7.2 billion rupees) in its series C round led by existing investor Tiger Global,” reported Livemint.
Details:
- Accel Partners also participated in the financing round, along with existing investors Nexus Venture Partners, Evolvence India Fund, Sistema Asia Fund, and Foundamental.
- Funds raised from the financing round will be used to develop the company’s technological offerings, enter newer markets, and further initiatives including private label brands, direct to retail channel, and exports.
Context:
- Venture debt firm InnoVen Capital invested 500 million rupee (US$6.8 million) in Infra Market last month. The company helps construction and real estate companies procure construction materials through its platform.
- Earlier in December 2020, the company raised US$20 million in its series B round led by Evolvence India Fund, Sistema Asia Fund, and Foundamental.
Editing by Collin Furtado and Jaclyn Tiu
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