Infra.Market, a construction goods and services platform, is raising up to Rs 150 crore (approx. $18 million) in its Series E2 fundraising round.

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Infra.Market's board has approved the issuance of 7,028 Series E2 preference shares at Rs 213438.7 per share, raising Rs 150 crore ($18 million).

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Amit Vijaysinh Barad and Barad Sanjay Amarsinh together invested Rs 45 crores, with additional cash supplied by private stockholders.

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The Tiger Global-backed startup received Rs 75 crore ($9 million) in debt capital from Innoven Capital.

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TheKredible estimates the company's post-allotment valuation at roughly $2.6 billion.

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In 2016, Souvik Sengupta and Aaditya Sharda founded Infra.Market, which provides construction supplies, infrastructure commodities, and technical equipment.

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The firm is preparing for an IPO and may shortly publish a draft red herring prospectus (DRHP).

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Infra.Market's gross revenue increased by 89% to Rs 11,846 crore in FY23, however annual results for FY24 have not yet been filed. Its earnings fell 17% to Rs 155 crore during the same year (FY23).

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Infra.Market competitors include OfBusiness, Moglix, Zetwerk, and MetalBook, among others. Notably, OfBusiness intends to list on stock exchanges in the next fiscal year (FY26).

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