By Start Ups
Infra.Market, a startup that helps construction and real estate companies procure materials, on Tuesday announced that it has raised $50 million from MARS Unicorn Fund, a joint venture from Liquidity Group and MUFG.
The round takes MARS’ investment in the company up to $100 million. The fund had previously invested $50 million in Infra.Market in 2022.
Infra.Market intends to use the proceeds of the latest raise to cater to newer global markets and increase its presence across product verticals.
“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, Infra.Market.
“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,” he added.
Northcote Luxe FinBrokers were the exclusive advisors to Infra.Market for the deal.
Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market is a construction materials company with the aim of creating “India’s largest multi-product construction materials brand and transforming the entire supply chain globally.”
Infra.Market caters to both institutional customers (B2B) and retail outlets (D2R) in the construction materials sector.
The company, which is backed by Accel, Nexus, and Tiger Global, said it has increased supply to retail outlets in the last 12 months. It supplies across 20 states in India and exports to multiple global markets such as Dubai, Singapore, Italy, and more.
“Liquidity is using technology to transform capital credit markets with unrivalled speed and accuracy. At each step in the process, our evaluation of Infra.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, Liquidity Group.
The MARS Unicorn Fund deploys financing in Southeast Asia on a future-ready AI platform backed by Tel Aviv-based Liquidity Group. The fund works solely with fast-growth companies typically in the post-C financing rounds.
First Published: May 28 2024 | 7:45 PM IST