Infra.Market, an Indian startup that helps construction and real estate companies procure materials, has raised $50 million from the MARS Unicorn Fund as it seeks to expand its overseas operations, the company said on Tuesday. companies at TechCrunch.
MARS Unicorn Fund, a joint venture between Liquidity Science and Climate Group and Japanese bank MUFG, is an existing backer of the Mumbai-based startup, having invested $50 million in it in 2022. The new investment, a major fundraising of funds, values Infra .Marché at $2.6 billion, the startup said.
Infra.Market is trying to transform the way small businesses in India’s manufacturing sector operate. By installing its load cells in manufacturing facilities, for example, Infra.Market helps companies gain better control over quality control and helps them source better raw materials. Customers also work with other companies who can provide them with better raw materials and advise on pricing.
This is a major problem in India, where the construction sector is highly fragmented and dominated by small players who lack the resources and expertise to optimize their operations. The startup says its technology has helped small manufacturers attract larger customers and expand their reach beyond India, attracting customers in Bangladesh, Malaysia, Singapore and Dubai.
Infra.Market claims to offer high-volume construction products under its own brands. The startup targets both institutional clients and points of sale in the construction materials sector.
“We continue to build on our vision of creating India’s largest multi-product building materials brand and transforming the building materials supply chain, not only in India, but also globally,” said the startup’s founder and chief executive, Souvik Sengupta, in a statement. .
“We see growth opportunities as we rapidly expand our product portfolio and market presence, and launching new verticals will help us open new markets and create a best-in-class building materials business in India.
The startup, backed by Accel, Nexus, Fundamental and Tiger Global, said it has increased the supply of its retail outlets over the past 12 months. It now supplies businesses in 20 Indian states and exports to Dubai, Singapore and Italy.
“Liquidity uses technology to transform capital credit markets with unparalleled speed and precision. Every step of the way, our evaluation of Infra.Market showed a company delivering on its promise to remake construction and infrastructure projects across India and beyond,” said Ron Daniel, co- founder and CEO of Liquidity Group.
Northcote Luxe FinBrokers advised Infra.Market on the transaction.
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