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MARS Strengthens Commitment to India’s Infra.Market with Fresh $50M Investment

ByYasmeeta Oon

May 29, 2024

MARS Strengthens Commitment to India’s Infra.Market with Fresh $50M Investment

Infra.Market, a Mumbai-based startup revolutionizing procurement for construction and real estate firms, has raised $50 million from MARS Unicorn Fund, according to a statement provided to TechCrunch on Tuesday. This new round of funding, structured as a primary fundraise with both debt and equity, will bolster Infra.Market’s efforts to expand its operations overseas.

The MARS Unicorn Fund, a joint venture between AI-driven fund Liquidity Group and Japanese bank MUFG, has a history of backing Infra.Market, having previously invested $50 million in the startup in 2022. The latest investment round values Infra.Market at $2.5 billion, maintaining the valuation from its 2021 Series C round.

Investment RoundDateAmountInvestor
Series C2021UndisclosedVarious
Follow-up Investment2022$50 millionMARS Unicorn Fund
Latest Round2023$50 millionMARS Unicorn Fund

Infra.Market is dedicated to transforming the operations of small businesses in India’s manufacturing sector. By implementing its innovative load cells in manufacturing facilities, Infra.Market enhances quality control and facilitates the procurement of superior raw materials. The startup’s technology also connects customers with businesses offering better raw materials and provides pricing guidance.

  • Enhanced Quality Control: Load cells for precise measurement.
  • Improved Sourcing: Assistance in finding superior raw materials.
  • Pricing Guidance: Insights and recommendations on pricing.

India’s construction industry is highly fragmented, primarily consisting of small players who often lack the resources and expertise to optimize their operations. Infra.Market addresses this issue by helping small manufacturers attract larger clients and expand their reach beyond India. The startup has already attracted clients from Bangladesh, Malaysia, Singapore, and Dubai.

Infra.Market offers high-volume construction products under its own brands, catering to both institutional customers and retail outlets. The startup is on a mission to create India’s largest multi-product construction materials brand and transform the supply chain not only in India but globally.

“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 and chief executive of Infra.Market.

The company has seen significant growth in the last year, increasing its supply to retail outlets across 20 Indian states and expanding exports to Dubai, Singapore, and Italy. This expansion is driven by the launch of new verticals aimed at seeding newer markets and creating a best-in-class construction materials company out of India.

“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,” Sengupta added.

Infra.Market is backed by prominent investors, including Accel, Nexus, Foundamental, and Tiger Global. The startup’s innovative approach and robust growth trajectory have made it an attractive investment.

“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,” said Ron Daniel, co-founder and CEO of Liquidity Group.

Northcote Luxe FinBrokers advised Infra.Market on the transaction. The startup’s success in securing this investment highlights its potential to revolutionize the construction materials industry not only in India but also on a global scale.

  • Infra.Market raises $50 million from MARS Unicorn Fund to expand overseas.
  • Valuation remains at $2.5 billion.
  • The startup enhances quality control and raw material sourcing for small manufacturers.
  • Expands supply to 20 Indian states and exports to Dubai, Singapore, and Italy.
  • Backed by leading investors Accel, Nexus, Foundamental, and Tiger Global.

Infra.Market’s innovative solutions and strategic expansion plans position it as a key player in the global construction materials market. The latest investment will enable the startup to further its mission of transforming the industry and supporting the growth of small businesses within the manufacturing sector.

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Featured Image courtesy of DALL-E by ChatGPT

Yasmeeta Oon

Just a girl trying to break into the world of journalism, constantly on the hunt for the next big story to share.

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