Construction-focused marketplace unicorn Infra.Market has raised $50 Mn in growth capital from Liquidity Group’s MARS Unicorn Fund. Liquidity Group, a global capital market fund, is backed by financial institutions such as US-listed Apollo and Mitsubishi UFJ Financial Group.
Infra.Market plans to use the fresh funds to cater to newer global markets and increase presence across product verticals, especially lead growth in its chemical vertical. The latest round comes after it raised close to $53 Mn in debt funding from more than 100 investors in December last year.
Founded in 2016 by Aaditya Sharda and Souvik Sengupta, Infra.Market is an online construction solutions company that uses technology to offer fair pricing and an enhanced procurement experience to its customers. It is eyeing the $140 Bn construction materials market, with a strong focus on the infrastructure sector.
The startup caters to both institutional customers (B2B) and retail outlets (D2R) in the construction materials sector. In the last 12 months, Infra.Market claims to have grown supply to retail outlets steadily while following a dual model of flagship stores and dealership stores. Currently, it supplies across 16 Indian states as well as exports to markets including Dubai Jordan, Italy, and Singapore.
Speaking about the latest fundraise, Souvik Sengupta, founder of Infra.Market, said in the statement, “We continue to build on our vision of creating India’s largest multi-product construction materials brand and transform the construction materials supply chain, not only in India but also globally.”
“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,” he added.