Construction materials platform Infra.Market raised an additional USD 50 million from Mars Unicorn Fund, a joint venture between global asset manager Liquidity Group and Japanese bank MUFG, according to media reports.
Additionally, it is raising funds at a USD 2.5 billion valuation, consistent with its 2021 valuation when the Thane-based company secured USD 125 million in a funding round led by Tiger Global.
As per media reports, the latest investment is directed towards Infra.Market’s Singapore entity will be used to expand global operations and diversify product categories. The company supplies construction materials such as concrete, steel, pipes, fittings, plywood, laminates, and tiles to institutional customers and retail outlets under its brand Infra.Market, IVAS, Shalimar Paints and RDC.
The company’s revenue grew from Rs 6,236 crore in FY22 to Rs 11,846 crore in FY23, though profits declined from Rs 186 crore to Rs 155 crore, as per media reports.
Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market is backed by Accel, Nexus Venture Partners, Fundamental VC, and Tiger Global.
