Funding round
Infra.Market Growth
Reported as "Growth Equity"
Infra.Market, which works in building materials manufacturing in Thane, raised $121M in a Growth round announced on 23 Jan 2025, led by Tiger Global, at a $2.80B post-money valuation. 6 firms took part, 1 of them already investors. It is Infra.Market's sixth venture round on record; the one before was a Series D in Aug 2021.
$121M
Amount raised
$2.80B
Post-money valuation
$2.68B pre-money
6
Investors
1 lead
1.1x
Step-up from the Series D
$2.50B in Aug 2021
4.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Infra.Market at $2.80B after the new money, 1.1 times the $2.50B of its Series D (Aug 2021). The $121M bought investors about 4.3% of the company. It came 41 months after Infra.Market's Series D. It is 26% of the $473M Infra.Market has raised in the venture rounds on record. Infra.Market raised again 8 months later: a Series G round of $83M in Sep 2025, at $2.80B post-money.
Infra.Market's funding rounds
Infra.Market has 7 venture rounds on record and 5 other deals. This one is highlighted.
- Seed 1 Aug 2019 $3.5M
- Series A 2 Jul 2020, led by Tiger Global $20M
- Series B 9 Dec 2020, led by Evolvence India, Sistema Asia Capital and Foundamental $20M
- Series C 25 Feb 2021, led by Tiger Global $100M$1.00B post-money
- Debt not a venture round 7 Jul 2021, led by Alteria Capital $13M
- Series D 3 Aug 2021, led by Tiger Global and InnoVen Capital $125M$2.50B post-money
- Debt not a venture round 16 Jul 2024, led by Yubi $18M
- Debt not a venture round 19 Jul 2024 $90M
- Growth this round 23 Jan 2025, led by Tiger Global $121M$2.80B post-money
- Debt not a venture round 30 Jun 2025 $50M
- Series G 18 Sep 2025, led by Nksquared $83M$2.80B post-money
- Debt not a venture round 14 Oct 2025 $150M
Investors
Who put money in
Tiger Global led the round with 5 other firms. Tiger Global had backed Infra.Market before.
Lead investor
- Tiger Global backs 391 venture-backed companies existing investor
Also in the round
- backs 7 venture-backed companies new investor
- backs 32 venture-backed companies new investor
- Capri Global new investor
- Nuvama new investor
- backs 20 venture-backed companies new investor
Comparable rounds
How it compares
5 Growth rounds in Building Material Manufacturers within a year either side disclosed an amount; the median was $75M, and this round was 1.6 times the median. The closest in time, other companies' Growth rounds in Building Material Manufacturers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Building Material Manufacturers | 13 Jan 2025 | $205M | not disclosed | Strategic Value Partners |
| Building Material Manufacturers | 29 Apr 2025 | $40M | not disclosed | Unless |
| Building Material Manufacturers | 24 Sep 2024 | $75M | not disclosed | Holcim Maqer Ventures |
| Building Material Manufacturers | 20 Jun 2024 | $28M | not disclosed | Eurazeo |
| Building Material Manufacturers | 25 Mar 2024 | $87M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Infra.Market raise in its Growth round?
Infra.Market raised $121M in its Growth round, announced in Jan 2025.
Who led Infra.Market's Growth round?
Tiger Global led it, with Evolvence India, Foundamental, Capri Global, Nuvama and Gruhas.
What was Infra.Market's valuation at the Growth round?
$2.80B post-money ($2.68B pre-money).
How does it compare with other Growth rounds in Building Material Manufacturers?
5 Growth rounds in Building Material Manufacturers within a year either side disclosed an amount; the median was $75M, and this round was 1.6 times the median.
Did Infra.Market raise again after this round?
Yes: a Series G round in Sep 2025 of $83M at $2.80B post-money.