Infra.Market, a startup disrupting the procurement of construction materials, has raised $50 million from the MARS Unicorn Fund, a joint venture between Liquidity Group and MUFG. This latest investment brings the total MARS investment in Infra.Market to $100 million.
Infra.Market plans to use the new funds to expand into global markets and enhance its product offerings. The company, which raised funds through a combination of debt and equity via its Singapore unit, is now valued at $2.5 billion.
“We continue to build on our vision of creating India’s largest multi-product construction materials brand and transforming the construction materials supply chain, not only in India but also globally,” said Souvik Sengupta, founder of Infra.Market.
Infra.Market Founders and Mission
Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market aims to create India’s largest multi-product construction materials brand and transform the global supply chain. The startup caters to institutional customers (B2B) and retail outlets (D2R), supplying materials across 20 Indian states and exporting to international markets, including Dubai, Singapore, and Italy.
Infra.Market, backed by Accel, Nexus, and Tiger Global, has significantly increased its supply to retail outlets over the past year. The company has also diversified its investments, acquiring stakes in RDC Concrete, Strata Geosystems, Equiphunt, and Halonix.
“We are seeing growth opportunities as we are rapidly expanding our product portfolio and market presence, and the launch of new verticals will help us seed newer markets and create a best-in-class construction materials company out of India,” said Souvik Sengupta.
Startup’s Financial Performance
Infra.Market has raised around $500 million across equity and debt. According to market data, Tiger Global holds a 21.33 percent stake, followed by Accel with 16.87 percent and Nexus Ventures with 8.46 percent, despite a 17 percent drop in profits to INR 155 crore in FY23, Infra. The market saw its gross revenue rise to Rs 11,846 crore, a significant increase from Rs 1,240 crore in FY21.
Infra.Market competes with companies like Zetwerk, OfBusiness, and Moglix. The MARS Unicorn Fund, leveraging an AI-driven platform, focuses on fast-growth companies in the post-C financing rounds, supporting them with substantial financing to fuel further growth.
“Liquidity is using technology to transform capital credit markets quickly and accurately. At each step in the process, our evaluation of Infra. The market showed a company delivering on its promise to remake construction and infrastructure projects across India and beyond,” said Ron Daniel, co-founder and CEO of Liquidity Group.
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