Construction materials marketplace Infra.Market is in talks to raise funds at a valuation of $4.5 billion, its third funding round this year, and a valuation jump of more than 400 percent within a single year, said people familiar with the matter, requesting anonymity.
It is in talks to raise $200-250 million and has a term sheet from new investor Footpath Ventures- an investor in Byju’s, Dream11 and Udaan among other big startups in India, these people said.
“Footpath will join this round. They are talking to other investors too. (Private equity firm) TPG is talking to them as well but they haven’t finalised yet,” one person said.
Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market is a business-to-business (B2B) e-commerce firm, running a brand of construction material, concrete and chemicals used in infrastructure projects. It ties up with contract manufacturers, gets them to utilise idle capacity and manufacture products under its own brand, which it then sells to large infrastructure companies and retail outlets.