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Infra.Market, an Indian unicorn, has raised venture loan from Alteria Capital.
Unsplash photo by Guilherme Cunha
Dhanjal, Swaraj Singh
7th of July, 2021
Alteria Capital, India’s largest venture debt fund, has invested Rs100 crore in Infra.Market, a newly-minted unicorn.
Infra.Market is a procurement platform founded by Souvik Sengupta and Aaditya Sharda in 2016. It uses technology to deliver procurement experience for all actors in the construction industry.
By adding consistency, quality, and predictability to the supply chain, Infra.Market hopes to disrupt the way businesses acquire building materials. The company is a marketplace that partners with contract manufacturers to utilize idle capacity and produce things under its own brand.
“Infra.Market is the clear category leader in India, organizing the construction materials and allied commerce area. Punit Shah, Partner at Alteria Capital, stated, “We’ve known the company for a while and they’ve done a great job on growth and profitability across the board.”
“The company has exceeded all expectations and done exceptionally well. The funds will be used for operating capital as well as other purposes as the company grows,” Shah explained.
Infra.Market has become a unicorn after raising a $100 million series C round led by Tiger Global and including Accel Partners, Nexus Venture Partners, and Evolvence India Fund.
“We are delighted to welcome Alteria to the team. We’ve been impressed with how quickly and thoroughly they’ve gotten to know our business over time. Infra.Market founder Souvik Sengupta remarked, “We look forward to this cooperation and leveraging their network as we develop our business in the next years.”
Alteria is also spearheading a new B2B initiative with the foundation of the Indian B2B Clan. This is a virtual forum designed to bring together founders in the B2B services and commerce segments to seek advice on a variety of operational goals as well as overall business strategy.
“B2B commerce as a segment is relatively underdeveloped, with a lot of room for growth. As a result, we saw a clear need for a platform where founders can come together and exchange their experiences,” Shah explained.
The community, which was founded in June, will be an exclusive membership for creators who want to engage in concentrated peer group participation.
Alteria Capital is India’s largest venture debt provider, with two funds totaling Rs. 2300 crore. Alteria has received Rs1,325 crore in pledges for its second venture loan fund from domestic investors. Rebel Foods, BharatPe, Dealshare, Spinny, Lendingkart, Zestmoney, Dunzo, Portea, Toppr, Stanza, Pratilipi, Vogo, Melorra, Mfine, Generico, Loadshare, and LBB are among the startups that Alteria has backed.
The original version of this article appeared on livemint.com.
Market venture debt from Alteria Capital Infra.
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