Summary:

  • Infra.Market specializes in supplying construction materials, infrastructure products, and technical equipment.

  • The round is led by MARS Unicorn Fund, a collaboration between Liquidity Group and MUFG

  •  The company targets the $140 billion construction materials market, emphasizing the infrastructure sector.

Infra.Market has recently secured a $50 million investment from the MARS Unicorn Fund, a collaboration between Liquidity Group and MUFG. This infusion elevates MARS and Liquidity’s total investment in Infra.Market to $100 million, following an earlier $50 million investment in 2022. Infra.Market has not disclosed its current valuation, but in the last round it was valued at $2.5 billion in around August 2021.

Established in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market specializes in supplying construction materials, infrastructure products, and technical equipment. The company targets the $140 billion construction materials market, emphasizing the infrastructure sector. It serves both institutional customers (B2B) and retail outlets (D2R), delivering across 16 states in India and exporting to international markets including Dubai, Singapore, Jordan, and Italy.

In the previous year, Infra.Market divested a 10% stake in RDC Concrete for $20 million to a group of investors led by Ashish Kacholia. Infra.Market had acquired RDC Concrete for $90 million in September 2021. Additionally, the company holds majority stakes in Strata Geosystems, Equiphunt, and Halonix.

To date, Infra.Market has raised approximately $500 million through a mix of equity and debt financing. Data from the startup intelligence platform. Tiger Global is the largest external shareholder, holding a 21.33% stake. Accel and Nexus Ventures follow with stakes of 16.87% and 8.46%, respectively, prior to this latest funding round.

Infra.Market is among the few unicorns in India that achieved substantial growth in gross scale, with a nine-fold increase from FY21 to FY23, while maintaining profitability. The company’s gross revenue surged from Rs 1,240 crore in FY21 to Rs 11,846 crore in FY23. However, the firm’s profit declined by 17% during the fiscal year ending March 2023, dropping to Rs 155 crore from Rs 187 crore in FY22.

Infra.Market operates in a competitive landscape, vying with companies like Zetwerk, OfBusiness, and Moglix. Despite the competitive pressures, Infra.Market has distinguished itself through robust growth and strategic investments, positioning itself as a significant player in the construction materials industry.

In summary, Infra.Market’s strategic funding and expansive market reach underscore its ambition to dominate the construction materials sector. With substantial investments from prominent funds and a strong financial performance, the company is poised for continued growth and expansion in both domestic and international markets. Its ability to scale operations rapidly while sustaining profitability marks it as a notable success story in the Indian startup ecosystem.