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.