MARS Unicorn Fund, a partnership between Liquidity Group and MUFG, has contributed $50 million to Infra.Market. With this, the company’s MARS and liquidity investments surpassed $100 million.
Infra.Market received a $50 million investment from the two funds in 2022. Infra.Market was reportedly valued at $2.5 billion in an equity round in August 2021, although the company did not reveal its valuation in the new funding.
Infra.Market is a 2016 startup that offers infrastructure products, technical equipment, and building materials. It was founded by Souvik Sengupta and Aaditya Sharda. It is aimed at the $140 market for building supplies, with a particular emphasis on the infrastructure industry.
The company provides construction materials to retail outlets (D2R) and institutional customers (B2B). The company claims that it supplies to 16 states in India and exports to markets including Italy, Dubai, Singapore, and Jordan.
Ten percent of Infra.Market’s $20 million stake in RDC Concrete was sold to investors led by Ashish Kacholia last year. September 2021 saw the former purchase RDC Concrete for $90 million. It also owns the majority of Equiphunt, Halonix, and Strata Geosystems.
Infra.Market has raised about $500 million so far in debt and equity. Prior to this round, Tiger Global held the largest share of external stakeholders, accounting for 21.33%, followed by Accel and Nexus Ventures, with 16.87% and 8.46% of the total, respectively.
One of the few profitable unicorns in the nation, Infra.Market, increased its gross scale by more than nine times between FY21 and FY23. According to the media, its gross revenue increased from Rs 1,240 crore in FY21 to Rs 11,846 crore in FY23. From Rs 187 crore in FY22 to Rs 155 crore in the fiscal year that ended in March 2023, the company’s profit decreased by 17%.
Moglix, OfBuisness, and Zetwerk are its rivals.
