Tiger Global invests in $ 2.5 billion Indian start-up

(Bloomberg) – Infra.Market has raised a new round of funding led by Tiger Global that values ​​the Indian tech startup at around $ 2.5 billion.

The Mumbai-based company raised $ 125 million in a Series D round, according to a statement released Tuesday, confirming an earlier Bloomberg News report. The startup expects its sales to exceed $ 1 billion by the end of this year and plans to use the new capital to expand into new markets as well as for potential acquisitions.

Infra.Market was last valued at around $ 1 billion in a funding round earlier this year, Bloomberg News previously reported.

Founded in 2017, Infra.Market helps construction and real estate companies source materials, including ready-mixed concrete and fly ash for their projects, according to its website. Tiger Global participated in a 2019 $ 20 million Series A round of funding with other investors.

Infra.Market has offices in locations such as Noida, Gurugram and Delhi and exports to markets such as Dubai, Singapore, Jordan and Italy.

(Updated article throughout with confirmation from Infra.Market.)

More stories like this are available at bloomberg.com

Subscribe now to stay ahead of the curve with the most trusted source of business information.

© 2021 Bloomberg LP

Source link

Comments are closed.