21 June 2023
Mumbai: Business-to-business construction material startup Infra.Market will raise $150 million from Varde Partners. The capital will be raised through issuance of convertible instruments, and is part of the company plans to raise funds ahead of its initial public offering plans, said two people aware of the development. The company counts Accel Partners, Evolvence India, Sistema Asia Fund, Foundamental Gmbh and Nexus Venture Partners as its other investors. In June 2022, Infra.Market raised $50 million in growth capital from Liquidity Group's MARS Unicorn Fund, valuing it at $2.5 billion. "The convertibles will translate into equity shares around the time the company goes for an I PO," the first person quoted above said. The company is looking to hit the public markets in next 18- 24 months.
Mumbai: Business-to-business construction material startup Infra.Market will raise $150 million from Varde Partners. The capital will be raised through issuance of convertible instruments, and is part of the company plans to raise funds ahead of its initial public offering plans, said two people aware of the development. The company counts Accel Partners, Evolvence India, Sistema Asia Fund, Foundamental Gmbh and Nexus Venture Partners as its other investors. In June 2022, Infra.Market raised $50 million in growth capital from Liquidity Group's MARS Unicorn Fund, valuing it at $2.5 billion. "The convertibles will translate into equity shares around the time the company goes for an I PO," the first person quoted above said. The company is looking to hit the public markets in next 18- 24 months.
Stay Connected, Stay Informed –
Don’t miss out on exclusive updates, market trends, and real-time investment opportunities. Be the first to know about the latest unlisted stocks, IPO announcements, and curated Fact Sheets, delivered straight to your WhatsApp.