STARTUP-STORIES
Infra.Market Secures $20 Million for Subsidiary RDC Concrete, Focuses on Growth and Sustainability
SUMMARY
Infra.Market's subsidiary RDC Concrete secured $20 million from investors led by Zerodha co-founder Nikhil Kamath. The funds will be used for new product development and market expansion. This investment aligns with Infra.Market's focus on growth and sustainability in the construction sector.
Infra.Market itself recently raised $50 million and Nikhil Kamath has been actively investing in various startups. These funding activities point towards a positive outlook for Infra.Market and the construction materials industry.
Infra.Market, a leading construction materials provider, has announced a successful funding round for its subsidiary RDC Concrete. Here's a breakdown of the key details and strategic implications:
RDC Concrete Investment:
- Investment Amount: $20 million (Rs 166 crore)
- Investor Group: Led by Zerodha co-founder Nikhil Kamath with participation from Capri Global Family Office, Verity Knowledge Solutions, and Wear Steels.
- Funds Utilization: Investment aims to fuel growth in new product development and market expansion for RDC Concrete.
Infra.Market's Growth Trajectory:
- Revenue: Rs 14,000 crore (estimated for 2023-24).
- Net Profit: Rs 300 crore (estimated for 2023-24).
- Expansion: Increased RDC Concrete footprint to 100 plants across 48 cities since acquisition in 2021.
Strategic Alignment of Investors:
- Nikhil Kamath's Viewpoint: Emphasizes RDC's commitment to innovation and sustainable practices in the construction sector.
- Focus on Sustainability: Investment aligns with Infra.Market's vision of supporting India's growth while prioritizing environmental responsibility.
Recent Funding Activities:
- Infra.Market: Secured $50 million from Mars Unicorn Fund at a $2.5 billion valuation to target new overseas markets and product diversification.
- Nikhil Kamath: Actively investing in various promising startups across sectors like talent management, fashion, and electric vehicles.
Overall, this investment in RDC Concrete highlights Infra.Market's commitment to propelling its subsidiary's growth. The focus on sustainability resonates with the investor group's vision, and the broader funding activities indicate a bullish outlook on Infra.Market's future.