Infra.Market Raises USD 50 Million for Expansion

New Delhi, May 28 (PTI) Startup Infra.Market, which is into construction materials, has raised USD 50 million from MARS Unicorn Fund to expand business.

In a statement, the company, which is valued at USD 2.5 billion, said it has "successfully closed additional funding from MARS Unicorn Fund, a joint venture from Liquidity Group and MUFG".

This additional funding in Infra.Market by MARS Unicorn Fund takes its total investment up to USD 100 million. The fund had previously invested USD 50 million in Infra.Market in 2022.

Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market is a construction materials supplier. It is targeting the USD 140 billion construction materials market, with a strong focus on the infrastructure sector.

"Infra.Market intends to use the proceeds of the latest raise to cater to newer global markets and increase its presence across product verticals," the statement said.

Infra.Market caters to both institutional customers (B2B) and retail outlets (D2R) in the construction materials sector. It supplies across 20 states in India and exports to multiple global markets such as Dubai, Singapore, and Italy.

The company supplies more than 15 building material product categories, including concrete, AAC blocks, steel, pipes & fittings, MDF, plywood, laminates, tiles, bath fittings & sanitary, fans, lights, kitchen and electrical appliances, modular kitchens & wardrobes, designer hardware and paints.