As it prepares to expand operations internationally, Infra.Market, an Indian startup that assists real estate and construction companies with material procurement, has raised $50 million from MARS Unicorn Fund, the companies informed TechCrunch on Tuesday.
The Mumbai-based firm is being supported by MARS Unicorn Fund, a joint venture between AI-driven fund Liquidity Group and Japanese bank MUFG, which put $50 million in it in 2022. The firm is valued at $2.5 billion according to the new investment, a primary fundraise (organized with both loan and equity) by Infra.Market’s Singapore branch. This valuation is consistent with the 2021 Series C.
With Infra.Market, small firms in India’s manufacturing industry are trying to change the way they do business. For example, Infra.Market helps businesses improve their raw material sourcing and quality control by deploying its load cells in industrial plants. Additionally, it facilitates communication between clients and other companies who can offer superior raw materials and pricing advice.
In India, where the construction sector is severely fragmented and dominated by tiny businesses without the means or know-how to maximize their operations, this is a serious issue. The business claims that by leveraging its technology, small manufacturers have been able to reach out outside India and draw in customers from Bangladesh, Malaysia, Singapore, and Dubai.
According to Infra.Market, it sells high-volume building supplies under its own labels. In the construction materials industry, the startup serves both institutional clients and retail stores.
The founder and CEO of the firm, Souvik Sengupta, released a statement saying, “We continue to build on our vision of creating India’s largest multi-product construction materials brand and transforming the construction materials supply chain, not only in India, but also globally.”
With our product range and market presence growing at a rapid pace, we are witnessing expansion potential. The introduction of new verticals will enable us to seed new markets and establish ourselves as India’s leading building materials firm.
Supported by Accel, Nexus, Foundamental, and Tiger Global, the business claimed to have expanded its supply to retail locations throughout the previous 12 months. These days, it exports to Dubai, Singapore, and Italy and provides goods to companies in 20 Indian states.
“Liquidity is revolutionizing the capital credit markets with unparalleled speed and precision by leveraging technology.” Ron Daniel, co-founder and CEO of Liquidity Group, stated, “At every stage of the process, our assessment of Infra.Market demonstrated a business fulfilling its promise to reinvent construction and infrastructure projects throughout India and beyond.”
