Infra.Market Secures $150 Mn Debt Financing from Mars Growth Capital

Mumbai-based construction materials marketplace Infra.Market has raised $150 million in debt financing from Mars Growth Capital, a joint venture between Liquidity Group and MUFG Bank. This funding includes a $50 million top-up to an existing $100 million facility, which has now been extended by an additional five years.

This marks Infra.Market’s second major deal in 2025, following a $125 million Series D round led by existing backer Tiger Global earlier this year.

Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market provides a comprehensive range of building materials catering to both B2B and B2R (business-to-retail) segments. The company is among India’s top players in the ready-mix concrete (RMC) space and also ranks second in terms of capacity in the autoclaved aerated concrete (AAC) blocks and flooring tiles categories.

Targeting India’s $255 billion construction materials market, Infra.Market has been aggressively scaling its operations. It currently offers over 15 product categories, operates through 10,000+ retail touchpoints, and partners with 250+ manufacturers. Its strategic investments include stakes in notable brands such as RDC Concrete, Shalimar Paints, Emcer, Millennium Tiles, and Amstrad.

Infra.Market's investor portfolio features Tiger Global, Accel, Nexus Venture Partners, and Evolvence, with its latest valuation pegged at $2.5 billion.

In terms of financials, the company's consolidated gross revenue surged to Rs 14,530 crore in FY24, up from Rs 11,847 crore in FY23. Net profit also more than doubled, reaching Rs 378 crore in FY24. Among its key competitors, OfBusiness, Zetwerk, and Moglix reported FY24 revenues of Rs 19,296 crore, Rs 14,436 crore, and Rs 4,964 crore, respectively.

The latest funding will support Infra.Market’s ongoing expansion and strengthen its position in India’s competitive construction materials landscape.

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