Infra.Market, a construction materials marketplace unicorn, is in advanced talks to raise $150 million from US-based Varde Partners. The funds will be used to acquire a majority stake in Strata Geosystems (India) Pvt Ltd from US Based Glen Raven Inc. and for other growth initiatives.
Strata Geosystems is a category leader in India in the geo-textiles space. The acquisition would add to the capabilities of Infra.Market and expand its product portfolio. It would also facilitate environmentally-sustainable production by Infra.Market and help the latter to reduce its carbon
footprint.
Infra.Market is planning an initial public offer (IPO) in the next two years. The latest fundraise will help the company to accelerate its growth plans and prepare for its IPO.
Here are some of the key takeaways from the news:
- Infra.Market is in advanced talks to raise $150 million from Varde Partners.
- The funds will be used to acquire Strata Geosystems (India) Pvt Ltd and for other growth initiatives.
- Strata Geosystems is a category leader in India in the geo-textiles space.
- The acquisition would add to the capabilities of Infra.Market and expand its product portfolio.
- Infra.Market is planning an initial public offer (IPO) in the next two years.
This is a significant development for Infra.Market and it will be interesting to see how the company uses the funds to grow its business.
