Construction materials startup Infra.Market has raised $150 million from Varde Partners through the issuance of convertible instruments. In an interview to CNBC-TV18, Souvik Sengupta, Co-Founder of Infra.Market said that they will be utilising part of the fundraise for acquiring Strata Geosystems which is a company in the geotechnical space.

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"From the $150 million fundraise, we will be deploying around $90 million for acquiring Strata Geosystems which is a company in the geotechnical space. This company works with construction companies and helps them reduce the carbon foortprint and cost of their projects. The rest of the amount from the fundraise will be used for growth primarily. We felt that in the current market environment issuing convertible instruments would get us the best valuation metrics in the future," Sengupta said.

Infra.Market is looking to go public in the next 18-24 months, and the latest fund raise is part of its growth plans on its way to IPO.

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Sengupta added that in the next 24 months the company aims to be a market leader in multiple product categories and sectors.

"For us the most important focus in the next 24 months is to take this company in a scenario where we are market leaders in at least multiple product categories and sectors," Sengupta said.

Also watch, Anuvrat Saboo, Co-Founder of SafEarth discuss how they plan to utilise their pre-Series A fundraise of Rs 3.5 crore. SafEarth, is a technology platform for adoption of renewable energy. The venture has completed over 100 industrial solar projects and has a deployed capacity of 171 megawatt and claims to have enabled savings of over 3,00,000 tonnes of carbon emissions.

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