Building materials platform Infra.Market is raising Rs 731.5 crore (approximately $83 million) in a fresh Series G funding round, led by Silverline Homes, with participation from Tiger Global, NK Squared, Accel India, Nexus Ventures, and Evolvence India.
Funding Breakdown and Valuation
Silverline Homes, controlled by Infra.Market founders Aaditya Sharda and Souvik Sengupta, is leading the round with Rs 250 crore. NK Squared and Tiger Global are contributing Rs 200 crore and Rs 176 crore, respectively, while Accel India and Evolvence India invest Rs 44 crore each and Nexus Ventures adds Rs 17.6 crore.
The round values the company at $2.8 billion, similar to its previous Series F funding. The startup plans to file a draft red herring prospectus (DRHP) next month, targeting an IPO of $600–700 million.
Business Overview
Infra.Market operates a full-stack building materials platform, offering structural products such as concrete, steel, and construction chemicals, finishing materials like AAC blocks, MDF, plywood, and pipes, along with tiles, sanitaryware, paints, fans, modular kitchens, and consumer durables.
In FY24, the company reported consolidated revenue of Rs 14,530 crore, a 23% year-on-year growth, with profits increasing 2.4X to Rs 378 crore. The platform competes with OfBusiness, Zetwerk, and Moglix, which posted FY24 revenues of Rs 19,296 crore, Rs 14,436 crore, and Rs 4,964 crore, respectively.
Founders Strengthen Stake
Infra.Market’s founders are increasing their ownership via Silverline Homes, following a trend seen among pre-IPO startups like Lenskart, Zetwerk, and Meesho, ensuring stronger control before going public.
Final Take
With robust revenue growth, strategic investor support, and pre-IPO stake consolidation, Infra.Market is poised to make a significant mark in India’s building materials and construction ecosystem, ahead of its public listing.
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