- Briefing Your roundup of Asian tech and startup news that matter
Miguel Cordon · · 1 min readIndian construction marketplace unicorn banks $13.4m in debt financing
“Newly turned unicorn Infra Market has raised 1 billion rupees (US$13.4 million) in venture debt funding from Alteria Capital, India’s largest venture debt fund,” Livemint reported.
Details:
- The tech-driven building materials procurer will use the new funds as working capital to grow its business-to-business (B2B) construction marketplace, among others.
- Infra Market founder Souvik Sengupta said the company aims to leverage Alteria’s network, which is currently running a community-based initiative in India that aims to bring founders of B2B services and commerce segments together.
Dive deeper:
- After recently raising US$100 million in a Tiger Global-led series C round, the company has become one of a handful of Indian startups that have entered the unicorn club this year.
- Infra Market is also notably the first unicorn in the infrastructure space in the country.
Editing by Collin Furtado, Arpit Nayak, and Jaclyn Tiu
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
