Infra.Market, an India-based technology firm providing a one-stop marketplace for construction materials, logistics and financing support, has raised $20 million in Series B round from Evolvence India Fund ,Sistema Asia Fund and Foundamental Gmbh.
Existing investors in the company include Accel, Tiger Global and Nexus, each of whom also participated in the round.
This financial year, Infra.Market reported revenue growth of 5.5 times year-on-year, expanded to Tier 2 cities in India and has exceeded pre COVID-19 revenue levels while maintaining healthy economics and bottom line profitability.
The new funds will enable the team to seed newer markets and advance their integration initiatives such as private labels and direct to retail channel.
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