Construction material platform Infra.Market raises $3.5 million in seed funding round from Accel Partners

Must Read

Sanju Samson to replace Shikhar Dhawan in T20 series against WI

Sanju Samson will replace injured Indian opener Shikhar Dhawan in the T20s series against West Indies starting from next...

Supreme Court lashes out on Centre & Delhi govts for Rising Pollution

The Apex Court of the Country, the Supreme Court on Monday lashed the Central and State Government for their...

Harbhajan Singh wishes BCCI Prez Sourav Ganguly to change Selection Panel

The Indian off-spinner Harbhajan Singh on Monday urged Sourav Ganguly, President of BCCI (The Board of Control for Cricket...

Infra.Market, a Mumbai-based, a B2B e-commerce platform for construction materials has been able to raise $3.5 million (approx ₹25 crore) in seed funding round from Accel Partners.

The company will utilize the infused capital to expand the company’s product lines and to grow its revenue up to $10 million (approx ₹71 crore) monthly against its present revenue of $2.5 million (approx ₹17 crore).

“InfraMarket aims to revolutionise the age old construction sector through its full-stack tech driven approach. The company is ideally positioned to power the online-to-offline procurement in the construction industry in the country in the coming years,” said Prashanth Prakash, partner at Accel.

Infra.Market was founded by Aaditya Sharda and Souvik Sengupta in 2016. It is a tech enabled B2B ecommerce platform for construction materials. The platform is a technology company trying to change the way construction and real estate companies procure material for their projects.

Infra.Market aggregates demand to offer economies of scale on material pricing not previously available to individual customers and projects.

It has built a centralised online market for real estate and construction materials that offers fair pricing and an enhanced technology experience to its clients.

It creates a direct communication chain between its clients and supply chain, ensuring an efficient delivery tracking facility.

According to the reports, the B2B e-commerce market will grow at 2.5 times from the present pace to touch $7 billion by 2020. The global B2B ecommerce market will reach $6.7 trillion, the report added.

Besides Infr.Market, other startups under the similar sky include Moglix, IndustryBuying, OfBusiness, Power2SME, and among others.

Also read: Accel leads $8 million funding in series A round of business execution startup Ally

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Unnao rape victim, burnt alive by 5 men, dies in Safdarjung hospital

Rape victim from Uttar Pradesh's unnao, who was burnt alive by 5 men and was airlifted to Delhi yesterday,...

Sanjivani episode 85 written update, December 6: Sid learns the truth about Asha’s pregnancy

The recent episode of Sanjivani begins as Dr. Ishani tells Dr. Sid that they can't be together because he's still married to Dr. Asha....

Weekend watchlist: Films and shows that are releasing today

The Weekend is here!  To enjoy the end of December’s first week, here is a list of new films and television series that are releasing...

Kasautii Zindagii Kay episode 318 written update, December 6: Prerna tells her decision to Mohini to stay with Anurag

The recent episode of Kasautti Zindagii Kay opens with Mohini and Veena still fighting about Anurag and Prerna. Veena asserts that Prerna is bearing...

Pati, Patni Aur Woh movie review: Bhumi Pednekar shines in a confused comedy about marriage and infidelity

The movie revealed its true intentions and its lesson: Men will always be men Cast: Kartik Aaryan, Ananya Panday, Bhumi Pednekar, Aparshakti Khurana Director: Mudassar Aziz Rating:...
- Advertisement -

More Articles Like This