Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.market offers construction solutions for several big construction projects
Strata claims to be an early entrant in the textile industry of India and has grown globally as a big name in the geosynthetic manufacturing industry
As per the deal, Narendra Dalmia (CEO) and Gautam Dalmia (chief development officer) will continue to remain invested and lead the global operations at Strata
Construction materials company Infra.Market is going to acquire a majority stake in Strata Geosystems for INR 910 Cr from the US-based Glen Raven Technical Fabrics.
Strata claims to be an early entrant in the textile industry of India and has grown globally as a big name in the geosynthetic manufacturing industry. To the construction industry, it offers sustainable materials while saving costs across various sectors such as highways, landfills, mines, railways, ports, container yards and more.
As per the deal for which Avendus Capital offered strategic advice to Strata shareholders, Narendra Dalmia (CEO) and Gautam Dalmia (chief development officer) will continue to remain invested and lead the global operations at Strata.
Commenting on the development, Dalmia said, “At Strata we have built a world class manufacturing platform to cater to global customers with a broad spectrum of innovative products and solutions for an array of site development challenges worldwide… While what we have built till now is industry defining, the platform Infra.Market provides will further aid and accelerate our vision of taking geosynthetics to every construction project and build a global category leader.”
Strata was established in 2004 as a Joint Venture between Strata Systems Inc. (USA) and a group of Indian shareholders. Since inception, the company has focussed on technical textile manufacturing in India with focus on geosynthetics.
Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.market offers construction solutions for several big construction projects which includes Delhi Metro, Chennai Metro, NHAI Projects, Navi Mumbai Airport, Kempegowda Airport among others. It counts Jindal Steel and Power, JSW, Honda, Godrej, Indian Oil and more as its partners. The startup has a pan India presence and is spread across 22 states with 4000+ retail stores.
Commenting on the deal, Infra.Market’s cofounder Sharda said, “We at Infra.Market are attempting to build India’s largest multi-product construction material offering not only in India but globally. The acquisition of Strata further enhances our capabilities in offering solutions across geosynthetics and related engineering and emboldens our vision to revolutionize the construction ecosystem across all product lines and services.”
The development comes right after Infra.Market was reported in talks to raise about $150 Mn from US-based Varde Partners.
The company reported a 6X rise in revenue to INR 185.9 Cr in 2021-22 (FY22) from INR 30.9 Cr in FY21.
Also, last year it raised $50 Mn from Liquidity Group’s MARS Unicorn Fund to enter new global markets and increase presence across product verticals, especially lead growth in its chemical vertical.