Building materials maker Infra.Market raises $50 million

Construction materials solutions firm Infra.Market has raised $50 million more from Mars Unicorn Fund, a joint venture between asset manager Liquidity Group and Japanese financial group MUFG. 

This new round increases the total funds raised from $50 million in 2022 to $100 million. 

Infra.Market intends to use the funds to cater to newer global markets and increase its presence across product verticals, the company said in a statement. 

The firm was last valued at $2.5 billion in 2021. 

Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market leverages technology to supply high-volume construction products under its own brands across 20 states and exports to multiple global markets, including Dubai, Singapore, and Italy.

The company said it is targeting the $140 billion construction materials market, with a strong focus on the infrastructure sector. 

The announcement also comes on heels of the ongoing increase in allocation for infrastructure projects under India’s National Infrastructure Pipeline, which has planned projects worth $2 trillion to be deployed over the next few years.

“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,” Sengupta said.

“We are seeing growth opportunities as we are rapidly expanding our product portfolio and market presence, and the launch of new verticals will help us seed newer markets and create a best-in-class construction materials company out of India,” he added. 

Navas Ebin Muhammed, managing director and head of APAC at Liquidity Group, said, “This upsize reflects our commitment to supporting exceptional companies not only in India but also across the entire APAC region. We are seeing a growing demand for scaled financing solutions in India and are pleased to have Mars Growth Capital help answer that need.”

Ron Daniel, co-founder and chief executive of Liquidity Group, said, “Liquidity is using technology to transform capital credit markets with unrivaled speed and accuracy. At each step in the process, our evaluation of Infra.Market showed a company delivering on its promise to remake construction and infrastructure projects across India and beyond.”

Founded in 2021 and with $1.5 billion assets under management (AUM), Mars Growth Capital is a joint venture between Japan’s largest financial group, MUFG, and Liquidity Group, one of the largest AI-driven tech-enhanced financial asset management firms in the world. 

With $2.35 billion AUM across funds focused on North America, Asia-Pacific, Europe, and the Middle East, Liquidity Group operates globally with offices in London, New York, Singapore, Tel-Aviv, Abu Dhabi, and San Francisco.