Infra.Market, a Mumbai-headquartered startup that helps construction and real estate firms procure materials, has secured $50 million in funding from MARS Unicorn Fund. The investment is part of the company’s expansion plans to take its operations overseas. This new round of funding values Infra.Market at $2.5 billion, retaining the same valuation as its 2021 Series C.
A Joint Venture Between Liquidity Group and MUFG
MARS Unicorn Fund is a joint venture between Liquidity Group, an AI-driven fund, and Japanese bank MUFG. This existing backer had already invested $50 million in Infra.Market in 2022.
Infra.Market’s Mission to Transform India’s Construction Industry
Infra.Market aims to revolutionize the way small businesses operate within India’s manufacturing sector. By installing its load cells in manufacturing facilities, the company helps companies have better control over quality and assists them in sourcing raw materials. Additionally, it enables customers to work with other businesses that can provide better raw materials and guidance on pricing.
The Challenges Faced by India’s Construction Industry
India’s construction industry is highly fragmented and dominated by small players who lack the resources and expertise to optimize their operations. Infra.Market claims its technology has helped small manufacturers attract larger clients and expand their reach beyond India, catering to customers in Bangladesh, Malaysia, Singapore, and Dubai.
Infra.Market’s Product Offerings
The startup offers high-volume construction products under its own brands. It caters to both institutional customers and retail outlets in the construction materials sector. Infra.Market is backed by prominent investors such as Accel, Nexus, Foundamental, and Tiger Global.
The Founder’s Vision
In a statement, Infra.Market’s founder and CEO, Souvik Sengupta, said, "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. We are seeing growth opportunities as we rapidly expand our product portfolio and market presence."
Expansion Plans
The startup plans to launch new verticals to seed newer markets and create a best-in-class construction materials company out of India. It has increased its supply to retail outlets over the last 12 months, now catering to businesses in 20 Indian states and exporting to Dubai, Singapore, and Italy.
Liquidity Group’s Endorsement
Ron Daniel, co-founder and CEO of Liquidity Group, said, "Liquidity is using technology to transform capital credit markets with unrivaled 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."
Transaction Advisors
Northcote Luxe FinBrokers advised Infra.Market on the transaction.
Conclusion
Infra.Market’s latest funding round is a testament to the startup’s growth potential. With this investment, it aims to expand its operations overseas and cement its position as India’s leading construction materials company. The company’s commitment to innovation and customer satisfaction has earned it recognition from investors like Liquidity Group.
