Recently turned unicorn Infra.Market has increased Rs100 crore in venture debt funding from Alteria Capital, India’s largest venture debt fund.
Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market is a gaining marketplace that leverages technology to provide procurement experience for all the players in the construction ecosystem. Infra.Market is trying to disrupt the way in which firms procure their building materials by bringing standardization, quality and predictability in the supply chain. The startup is a marketplace which bonds with contract manufacturers and gets them to utilize idle capacity and manufacture products for its own brand.
“Infra.Market is a clear category leader which is organizing the building materials and allied commerce segment in India. We have known the company for a while, and they have performed very well on growth coupled with strong profitability across the board,” stated Punit Shah,
Partner, Alteria Capital. “The company has performed exceedingly well and has beaten all expectations. The capital will be used for working capital requirements to grow the business as well as other uses,” further said Shah.
Infra.Market recently accomplished unicorn status when it raised its series C round of $100 million led by Tiger Global with participation from Accel Partners, Nexus Venture Partners and Evolvence India Fund.
“We are excited to have Alteria on-board. We have been pleased with the speed and thoroughness they have shown in understanding our business over time. We look forward to this partnership and leveraging their network as we scale our business in the coming years,” stated Souvik Sengupta, founder, Infra.Market.
Alteria is also anchoring a novel initiative in the B2B space through the formation of the Indian B2B Clan. This is a virtual community intended to bring together founders in the B2B services and commerce segments where they can seek guidance on various operating goals as well as broad business strategy.
“B2B commerce as a segment is still largely untapped and there is a lot of potential. So, we felt that there is a strong need for a platform where founders can come together and share their learnings,” stated Shah.
The community was launched in June and would be an exclusive club for founders to have peer group engagement in a focused manner.
Alteria Capital is India’s largest venture debt provider with a corpus of Rs. 2300 crore across two funds. Alteria recently raised commitments of Rs1,325 crore from indigenous investors for its second venture debt fund. Alteria has backed firms like Rebel Foods, BharatPe, Dealshare, Spinny, Lendingkart, Zestmoney, Dunzo, Portea, Toppr, Stanza, Pratilipi, Vogo, Melorra, Mfine, Generico, Loadshare, LBB, among others.
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