Tiger Global Invests in Indian Startup at $2.5 Billion Value
Tiger Global has agreed to invest an additional $125 million in Infra.Market, according to a person familiar with the matter.
(Bloomberg) -- Infra.Market has raised a new round of funding led by Tiger Global that values the Indian technology startup at about $2.5 billion.
The Mumbai-based company raised $125 million in a series D round, according to a statement on Tuesday, confirming an earlier Bloomberg News report. The startup expects its sales to surpass $1 billion by the end of this year and plans to use the fresh capital for expansion into new markets as well as for potential acquisitions.
Infra.Market was last valued at about $1 billion in a funding round earlier this year, Bloomberg News reported previously.
Founded in 2017, Infra.Market helps construction and real estate companies procure materials including ready-mix concrete and fly ash for their projects, according to its website. Tiger Global participated in a $20 million series A funding round in 2019 along with other investors.
Infra.Market has offices at locations including Noida, Gurugram and Delhi and exports to markets such as Dubai, Singapore, Jordan and Italy.
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