Nikhil Kamath Leads $20-Million Round In B2B Unicorn Infra.Market
The company had earlier divested a 10% stake in RDC Concrete to certain investors, led by veteran Ashish Kacholia in November 2023.
Zerodha Co-Founder Nikhil Kamath has led a $20 million funding round in construction materials marketplace Infra.Market's unit, RDC Concrete.
Infra.Market has divested a minority stake in RDC Concrete to various investors, such as Kamath, Capri Global Family Office, Sumeet Kanwar from Verity, and Abhijeet Pai-led Wear Steels.
The company had earlier divested a 10% stake in RDC Concrete to certain investors, led by veteran Ashish Kacholia, in November 2023.
Infra.Market acquired RDC Concrete in mid-2021, and it has grown to more than 100 plants across 48 cities.
"RDC has made remarkable progress in transforming the construction landscape in India with its ready-mix concrete. It is less polluting, expedites construction timelines, and significantly reduces waste and expense...We are actively seeking companies that ensure that India's growth and environmental sustainability progress hand in hand," Kamath said.
RDC Concrete is a ready-mix concrete producer, different from a large part of non-metro construction in India, where hand-mixing concrete is primarily used at the site.
On May 28, Infra.Market also raised an additional $50 million from the MARS Unicorn Fund, a joint venture from Liquidity Group and MUFG. Founded in 2016, the company has a valuation of $2.5 billion. It supplies over 15 different building material product categories, including concrete, steel, pipes and fittings, plywood, tiles, paints, and others.
It supplies all its products under its own brand names, Infra.Market, IVAS, Shalimar Paints, and RDC, and has over 200 concrete manufacturing plants and a further 30 manufacturing units for other product categories.
