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<ul><li><keyword id="8032183" type="UNKNOWN" weightage="20" keywordseo="Infra-Market">Infra.Market</keyword>’s valuation has increased more than two-fold from $1 billion in the last six months.</li><li>It is a B2B e-commerce company that solely focuses on offering high-volume <keyword id="3857121" type="PERSON" weightage="20" keywordseo="construction-material">construction material</keyword>.</li><li>Infra.Market company will also look at acquisition opportunities, along with product expansion.</li></ul>Construction material e-commerce platform Infra.Market has raised $125 million in a Series D round led by Tiger Global, an investor since Feb this year, at a valuation of $2.5 billion. The company’s valuation has increased more than two-fold in the last six months. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Month </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investor </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$100 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/business/startups/news/tiger-global-overtakes-sequoia-as-the-top-investor-in-indian-unicorns-in-2021-cracks-15-deals-this-year-so-far/articleshow/83912624.cms">Tiger Global,</a> Accel Partners, Nexus Venture Partners, others </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1 billion+ </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">July 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$13.4 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alteria Capital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Debt Round </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">August 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$125 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tiger Global </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.5 billion </td></tr></tbody></table> Infra.Market was founded by <keyword id="5333789" type="PERSON" weightage="20" keywordseo="Souvik-Sengupta">Souvik Sengupta</keyword> and Aaditya Sharda in 2016. It is a marketplace for other businesses and retailers to order construction material like concrete, fly ash, construction chemicals, sand and more. The five-year old company expects its annual revenue to cross a billion dollars this year. More than two-third of the sales are contributed by the company’s own private label, which gives them hire margins. Notably, Infra.Market has been profitable since inception and has a revenue run rate of $700 million. It now has customers in 10 states in India and exports to international markets like Dubai, Singapore, Jordan, Italy and more, the company said in a statement. Founder Sengupta added that they are seeing a spike in customer’s order value as they launch new products, verticals and expand market presence. A part of the funding would be utilised to accelerate this further. Infra.Market company will look at acquisition opportunities as well. It had recently acquired Equiphunt, a equipment solutions platform that provides services like equipment ownership, maintenance and utilization. The company expects to benefit significantly from the ongoing increase in allocation for infrastructure projects under the National Infrastructure Pipeline, which has planned projects worth $2 trillion to be executed over the next few years. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/nykaa-will-spend-its-ipo-money-on-setting-up-retail-stores-and-repaying-loans/articleshow/84996894.cms" data-type="tilCustomLink">Nykaa will spend its IPO money on setting up retail stores and repaying loans</a> <a href="https://www.businessinsider.in/retail/news/britannia-marico-hindustan-unilever-nestle-india-products-can-be-costlier-as-inflation-is-eating-into-their-profits/articleshow/84977161.cms">From cookies king Britannia to soaps titan HUL, inflation is eating profits away ⁠— so, you may have to pay even more for daily essentials</a> <a href="https://www.businessinsider.in/business/startups/news/skill-lync-raises-17-5-million-to-offer-more-upskilling-courses-for-engineers/articleshow/84995007.cms">Three-year-old Skill-Lync gets $17.5 million funding from Flipkart founder Binny Bansal and others</a>

E-commerce platform for construction material Infra.Market raises $125 million from Tiger Global investment

After the Income tax department recently raided a proptech startup based in Pune and Thane and found alleged tax evasion to the tune of Rs 224 crore, reports suggest it is <keyword id="8032183" type="General" weightage="20" keywordseo="infra-market" source="Orion">Infra.Market</keyword>, one of India's fastest growing unicorns. According to multiple reports, the details point to B2B e-commerce marketplace Infra.Market, backed by Tiger Global, Accel and Nexus and valued at $2.5 billion. According to CBDT, the startup allegedly obtained huge foreign funding via the Mauritius route, issuing shares at an "exorbitantly" high premium. The CBDT said a hawala network of some Mumbai and Thane-based shell companies has also been discovered that was involved with the case. The startup, founded by Souvik Sengupta and Aaditya Sharda, said it is cooperating with the authorities and is providing all necessary information. The Income-Tax department said on Sunday in a statement that it has found evidence that a startup based in Pune and Thane has not disclosed Rs 224 crore, without naming it. The CBDT said unaccounted cash worth Rs 1 crore and jewellery worth Rs 22 lakh have been seized during the raids. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/adani-group-ioc-bpcl-hpcl-reliance-hdfc-and-other-hot-stocks-on-march-21/slidelist/90344098.cms">Adani group, IOC, BPCL, HPCL, Reliance, HDFC and other hot stocks on March 21</a> <a href="https://www.businessinsider.in/investment/news/india-is-working-on-crypto-classification-under-gst-law/articleshow/90344895.cms" data-type="tilCustomLink">India is working on crypto classification under GST law</a> <a href="https://www.businessinsider.in/investment/news/crypto-tax-in-india-kicks-in-from-april-heres-all-you-need-to-know/articleshow/90344479.cms">India’s cryptocurrency tax kicks in from April – here’s what investors need to know</a>

Infra.Market is reportedly under income tax lens for an alleged evasion of ₹224 crore

<ul><li>The two new <keyword id="2023017" type="ORGANIZATION" weightage="20" keywordseo="unicorns">unicorns</keyword> are <keyword id="2848710" type="PERSON" weightage="20" keywordseo="Innovaccer">Innovaccer</keyword>, a healthtech firm, and <keyword id="8032183" type="UNKNOWN" weightage="20" keywordseo="Infra-Market">Infra.market</keyword>, a startup in the real estate space.</li><li>While Innovaccer’s valuation jumped three times in seven months to $1.3 billion, Infra.market’s valuation was last known to be just $200 million in December 2020.</li><li>While Innovaccer, founded in 2014, has raised a total of $225 million, the four-year old Infra.market has raised $150 million till date.</li></ul>India added two new unicorns this week to its rapidly growing club of <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> with over a billion dollar valuations. Innovaccer, a healthcare technology company, and Infra.market, a startup that helps real estate companies to procure materials, have both raised funds this week and become the latest unicorns. Interestingly, both the companies have seen their valuations swell in just a matter of months, in a pandemic period. Innovaccer’s valuation jumped three times in seven months to $1.3 billion and Infra.market’s valuation was last known to be $200 million in <a href="https://techcrunch.com/2021/02/25/infra-market-becomes-newest-indian-unicorn-with-100-million-fundraise/">December 2020</a>, and within three months its valuation has crossed a billion dollars. The startups are not like many other Indian companies who have raised billions of dollars. Instead, both the startups have achieved the status with minimal funding. While Innovaccer, founded in 2014, has raised a total of $225 million, the four-year old Infra.market has raised $150 million till date. What does Innovaccer do? Through a Data Activation Platform, Innovaccer connects healthcare data across verticals, and provides unified patient records as well as insights for better patient outcomes. The San Francisco-headquartered startup claims that by the end of 2021, it would have grown with a Compound annual growth rate (CAGR) of 5%. Innovaccer was founded in 2014 by Indian Institute of Technology (IIT) graduates Sandeep Gupta, Abhinav Shashank and Kanav Hasija. With the latest fundraise from Tiger Global Management and existing investors Steadview Capital, Dragoneer, B Capital Group, Mubadala Capital and M12 (Microsoft's Venture Fund), the startup will now be launching the Innovaccer Health Cloud – “a platform as a service that combines the company’s Data Activation Platform and application suite with an extensive set of platform services and tools that allow customers and partners to easily develop interoperable applications that improve patient outcomes and lower costs”. “Over the last ten years, we have spent billions of dollars digitizing healthcare information with great success. That was step #1 of the journey. Now, we have troves of information on our health locked in electronic silos. We need to bring this information together using a cloud platform that not only unlocks the power of the data, but also provides a platform on which new digital services and solutions can be built with native interoperability,” said Shashank, co-founder and chief executive officer at Innovaccer in a statement. What does Infra.market do? Based out of Mumbai, Infra.market is targeting India’s booming real estate market. It helps construction companies procure materials as well as helps with the logistics of it. The startup was founded in 2016, by Indian Institute of Management (IIM) graduates Aaditya Sharda and Souvik Sengupta, counts the likes of Larsen &amp; Toubro, Tata Projects and Ashoka Buildcon as its clients. According to <a href="https://techcrunch.com/2021/02/25/infra-market-becomes-newest-indian-unicorn-with-100-million-fundraise/">reports</a>, Infra.market which was also hit by the pandemic and saw its businesses halt for two months during lockdown, has recovered quickly and is aiming for a $180 million annual run rate in FY21. Infra.market’s series C funding round was led by Tiger Global and also saw participation from its existing investors Nexus Venture Partners, Accel Partners, Sistema Asia Fund, Evolvence India Fund, and Fundamental Capital GmbH. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-signal-and-telegram-face-a-catch-22-situation-as-indias-new-social-media-rules-threaten-encryption/articleshow/81221070.cms">Whatsapp, Signal and Telegram face a catch-22 situation as India’s new social media rules threaten encryption</a> <a href="https://www.businessinsider.in/business/startups/news/a-candid-kavin-mittal-admits-his-mistakes-as-he-reinvents-hike-and-plans-fresh-fundraising-this-year/articleshow/81204449.cms">A candid Kavin Mittal admits his mistakes as he reinvents Hike and plans fresh fundraising this year</a>

India saw the birth of two new unicorns this week – both their valuations have swelled multiple times in just a few months

You Searched For "Souvik Sengupta" and got 3 results

E-commerce platform for construction material Infra.Market raises $125 million from Tiger Global investment

Kritti Bhalla

Infra.Market is reportedly under income tax lens for an alleged evasion of ₹224 crore

IANS

India saw the birth of two new unicorns this week – both their valuations have swelled multiple times in just a few months

Sanchita Dash

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