B2B marketplace Infra.Market raised Rs 50 Cr in venture debt funding from InnoVen Capital. The funds would be put to use to enhancie its product portfolio, service offerings and geographical expansion, as the real estate market looks for a path to recovery after a lean 2020.
Infra.Market is primarily a B2B procurement marketplace for real estate and construction materials. The company leverages technology to provide fair pricing and vendor-matching as per project requirements. Currently, the company works with more than 170+ small manufacturers and retail giants like L&T, Tata Projects and Ashoka Buildcon among others.
Infra.Market recorded a 5.5x jump in revenue to Rs 350 Cr in FY20, compared to Rs 63 Cr in FY19. Out of this, the company had earned nearly Rs 347.58 Cr by selling products through its marketplace, while Rs 1.16 Cr came from the sales of services.