Infra.Market, a construction materials company that leverages technology to provide procurement services, announced that it has successfully closed additional funding of $50 million from MARS Unicorn Fund, a joint venture of Liquidity Group, and MUFG. This additional funding by MARS and Liquidity in Infra.Market takes its total investment up to $100 million having invested $50 million in Infra.Market in 2022.
Northcote Luxe FinBrokers were the exclusive advisors to Infra.Market for this transaction.
Infra.Market intends to use the proceeds of the fund raise to cater to newer global markets and increase its presence across product verticals, a company statement said.
Founded by Souvik Sengupta and Aaditya Sharda in 2016, the company aims to create India’s largest multi-product construction materials brand and transforming the entire supply chain globally.
Infra.Market is targeting the $140 billion construction materials market, with a strong focus on the infrastructure sector. It focuses on high-volume construction products under its own brands. On the customer side, it aims to solve existing issues such as a lack of price transparency, unreliable quality, a fragmented vendor base and inefficient logistics. On the supplier side, it ensures higher capacity utilization, a steady demand and better customer reach.
“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,” Souvik Sengupta, Founder said.
The announcement comes amidst ongoing increase in allocation for infrastructure projects under the National Infrastructure Pipeline, which has planned projects worth $2 trillion to be deployed over the next few years.
Infra.Market caters to both institutional customers and retail outlets in the construction materials sector. Over the last 12 months, it has grown supply to retail outlets and follows a dual model of flagship stores and dealership stores. It supplies across 20 states in India and exports to multiple global markets such as Dubai, Singapore, Italy and more.