Infra.Market raises $20M led by Nikhil Kamath via RDC Concrete stake sale
The Thane-headquartered firm had sold a 10% stake in RDC Concrete to a group of investors led by Ashish Kacholia in November 2023.
Construction materials company Infra.Market has raised about $20 million from investors including Nikhil Kamath, Capri Global Family Office, Sumeet Kanwar from Verity, and Abhijeet Pai-led Wear Steels, by divesting a minority stake in its subsidiary RDC Concrete.
This follows closely after the company completed an additional funding round of $50 million from MARS Unicorn Fund, taking the total investment to $100 million.
The Thane-headquartered firm had sold a 10% stake in RDC Concrete to a group of investors led by Ashish Kacholia in November 2023. Infra.Market had purchased the ready-mix concrete company for $90 million in mid-2021, and at the time of the divestiture, RDC was valued at $225 million.
RDC Concrete is said to have currently grown to over 100 plants across 48 cities.
“RDC has made remarkable progress in transforming the construction landscape in India with their ready-mix concrete. It is less polluting, expedites construction timelines, and significantly reduces waste and expense. By adopting cutting-edge, new-age technologies in concrete, RDC is setting a benchmark in the industry,” Kamath said.
Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market supplies over 15 different building material product categories. It claims to have more than 10,000 retail touchpoints and over 30 flagship showrooms.
It serves both commercial and retail clients in the construction materials sector and has an extensive international presence, including distribution in the UAE, Singapore, and Italy.