Infra.Market, a construction materials startup supported by Tiger Global, has successfully raised over $120 million in a fully primary pre-IPO funding round. The company is now looking to expand its lifestyle vertical and diversify into new segments such as mattresses, curtains, and home décor. Co-founders Souvik Sengupta and Aaditya Sharda emphasized that moving beyond traditional materials like concrete and steel presents significant growth opportunities.
Sengupta stated, “Lifestyle is an area that we want to focus on and build for the future.” Currently valued at $2.7 billion, Infra.Market aims to grow its lifestyle offerings while maintaining its core business, which contributes 70% of its revenue. “We want to be very focused on the same customer. Until now, we have been strong in industrial materials needed for home construction, and we have ventured into finishing. However, we are still light on lifestyle products, so we are looking to add more categories in this area,” he explained.
The funds raised will be utilized to enhance the company’s growth and explore new segments. Sengupta highlighted the importance of furnishing and home décor, particularly textiles like curtains and carpets, as well as the mattress market, which represents a significant opportunity.
Infra.Market’s lifestyle brand, Ivas, along with other acquired brands such as Shalimar Paints, Millenium, Emcer, and Amstrad, offers products that extend beyond traditional construction materials, including bath fittings, ceramics, tiles, paint, home appliances, and consumer durables. Sharda noted, “We began this segment with tiles and sanitaryware three years ago, and our investment in Shalimar Paints facilitated our entry into the home finishing business.”
Over the past three years, the company has expanded its offerings to include MDF, plywood, electricals, modular kitchens, and consumer durables, all supported by dedicated manufacturing units. Infra.Market aims to increase the lifestyle segment, which currently accounts for 30% of its business, to approximately 40% in the coming years.
According to Statista, the home décor market in India is expected to grow by 8.67% from 2025 to 2029, reaching a market volume of $2.97 billion by 2029.
