Infra.Market has secured $50 million in funding from the MARS Unicorn Fund, a joint venture of Liquidity Group and MUFG. This investment brings the total investment from MARS and Liquidity in Infra.Market to $100 million.
Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market specializes in selling construction materials, infrastructure goods, and technical equipment, targeting the $140 billion construction materials market, particularly focusing on the infrastructure sector.
The company serves both institutional customers (B2B) and retail outlets (D2R) across 16 states in India and exports to international markets such as Dubai, Singapore, Jordan, and Italy.
Infra.Market has divested a 10% stake worth $20 million in RDC Concrete to investors led by Ashish Kacholia, after acquiring RDC Concrete for $90 million in September 2021. Additionally, it holds majority stakes in Strata Geosystems, Equiphunt, and Halonix.
With this latest funding, Infra.Market has raised approximately $500 million across equity and debt rounds. Tiger Global holds the largest external stake at 21.33%, followed by Accel and Nexus Ventures.
Infra.Market stands out as one of the few unicorns in India that achieved over nine-fold growth in gross scale between FY21 and FY23 while remaining profitable. Its gross revenue surged from Rs 1,240 crore in FY21 to Rs 11,846 crore in FY23, although its profit dipped 17% to Rs 155 crore in FY23 from Rs 187 crore in FY22.
Competing with Zetwerk, OfBusiness, and Moglix, Infra.Market continues to consolidate its position in the construction materials market, leveraging its robust growth trajectory and profitability.
