Infra.Market, a leading player in the construction materials industry, has successfully raised $50 million from the MARS Unicorn Fund, a joint venture between Liquidity Group and MUFG. This recent infusion of capital brings the total investment from MARS and Liquidity in Infra.Market to $100 million, following a previous $50 million investment in 2022.
Although Infra.market has not disclosed its current valuation post-investment, the company was valued at $2.5 billion during an equity round in August 2021. Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market specializes in selling construction materials, infrastructure goods, and technical equipment. The company targets the expansive $140 billion construction materials market, with a significant focus on the infrastructure sector.
Infra.Market serves both institutional customers (B2B) and retail outlets (D2R), supplying construction materials across 16 states in India and exporting to international markets including Dubai, Singapore, Jordan, and Italy. The company’s broad customer base and international reach underscore its robust market presence.
In a notable transaction last year, Infra.Market sold a 10% stake in RDC Concrete to investors led by Ashish Kacholia for $20 million. Infra.Market initially acquired RDC Concrete for $90 million in September 2021. The company also holds majority stakes in Strata Geosystems, Equiphunt, and Halonix, further diversifying its portfolio within the construction sector.
To date, Infra.Market has raised approximately $500 million through a combination of equity and debt financing. Major stakeholders before this round included Tiger Global, which held a 21.33% stake, followed by Accel and Nexus Ventures, holding 16.87% and 8.46% respectively.
Infra.Market is one of the few unicorns in India that has achieved over nine-fold growth in gross scale between FY21 and FY23 while maintaining profitability. The company faces competition from industry peers such as Zetwerk, OfBusiness, and Moglix, but its continued growth and strategic investments position it well for sustained success in the construction materials market.
