Business to business (B2B) Construction materials marketplace Infra.market, has raised $50 million from MARS Unicorn Fund of global capital market fund Liquidity Group.
The company plans to use the funds to cater to new global markets and increase its presence in product verticals, particularly in its chemical verticals.
The Maharashtra-based Infra.Market was founded in 2016 by Souvik Sengupta and Aaditya Sharda, It is a procurement market that leverages technology to provide a better buying experience for all players in the construction ecosystem.
It offers products like ready-mix concrete, fly ash and construction chemicals.
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“We are also embarking on new business verticals outside the construction ecosystem such as chemicals to enable us to provide end-to-end solutions to our customers across the multiple industries,” said, Souvik Sengupta, Founder, Infra.Market.
Operated by Hella Infra Market Ltd, It caters to both institutional customers (B2B) and retail outlets (D2R) in the building materials sector and has extended supply to retail outlets and flagship stores (for smaller stores) and dealership stores (for retail customers).
Infra.Market supplies to 16 states of India and exports to markets like Dubai, Singapore, Jordan and Italy.
Infra.Market last year launched a new platform, Chemical.Market focused on the chemical industry.
Ron Daniel, Co-founder and CEO of Liquidity Group, said the fund is using technology to transform capital debt markets with unmatched 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,” he added.
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Tel Aviv-based Liquidity Group’s Mars Unicorn Fund invests in a future ready AI platform in the Southeast Asian market, according to the statement.
It is also added that Infra.Market generates over a billion dollars in annual revenue and is expected to more than double by the end of this year. Its export business has grown to over 25% of its revenue.
In August 2021, it had raised $125 million in a Series D funding round led by Tiger Global at a valuation of $2.5 billion.
In Feb 2021, Infra.Market become a unicorn after it had raised $100 million in a Series C investment round from its existing investors including Tiger Global, Accel, Nexus Venture Partners, Evolvence India Fund, and others.
About Infra.Market
Infra.Market is a Construction Solutions company that leverages technology to provide an enhanced procurement experience for all players in the construction ecosystem.
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They focus on Construction Products under their own private label brands. On the customer side, they aim to address concerns around pricing transparency, unreliable quality, fragmented vendor base and inefficient logistics. On the manufacturer’s side, they are ensuring higher capacity utilization, a steady demand and better customer reach.
They cater to both institutional customers (B2B) and retail outlets (D2R) in the construction materials sector.
