Funding round
Infra.Market Series B
Infra.Market, which works in building materials manufacturing in Thane, raised $20M in a Series B round announced on 9 Dec 2020, led by Evolvence India, Sistema Asia Capital and Foundamental. 6 firms took part. It is Infra.Market's third venture round on record; the one before was a Series A in Jul 2020.
$20M
Amount raised
Not disclosed
Post-money valuation
6
Investors
3 leads
Valuation
What this round says about the price
Infra.Market did not disclose a valuation in this round. It came 5 months after Infra.Market's Series A. It is 4.2% of the $473M Infra.Market has raised in the venture rounds on record. Infra.Market raised again 2 months later: a Series C round of $100M in Feb 2021, at $1.00B 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 this round 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 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
Evolvence India, Sistema Asia Capital and Foundamental led the round with 3 other firms.
Lead investors
- backs 7 venture-backed companies new investor
- backs 6 venture-backed companies new investor
- backs 32 venture-backed companies new investor
Also in the round
- Accel backs 581 venture-backed companies new investor
- Tiger Global backs 391 venture-backed companies new investor
- Nexus new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
5 Series B rounds in Building Material Manufacturers within a year either side disclosed an amount; the median was $40M, and this round was 50% of the median. The closest in time, other companies' Series B rounds in Building Material Manufacturers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Building Material Manufacturers | 26 Jan 2021 | $40M | not disclosed | not named |
| Building Material Manufacturers | 9 Feb 2021 | $40M | $150M | Khosla Ventures and Zeno Ventures |
| Building Material Manufacturers | 13 Oct 2020 | $9.0M | not disclosed | not named |
| Building Material Manufacturers | 28 Jun 2021 | $30M | not disclosed | Temasek and Khosla Ventures |
| Building Material Manufacturers | 25 Aug 2021 | $207M | not disclosed | Norwest |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Infra.Market raise in its Series B round?
Infra.Market raised $20M in its Series B round, announced in Dec 2020.
Who led Infra.Market's Series B round?
Evolvence India, Sistema Asia Capital and Foundamental led it, with Accel, Tiger Global and Nexus.
What was Infra.Market's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Building Material Manufacturers?
5 Series B rounds in Building Material Manufacturers within a year either side disclosed an amount; the median was $40M, and this round was 50% of the median.
Did Infra.Market raise again after this round?
Yes: a Series C round in Feb 2021 of $100M at $1.00B post-money.