Inside the $150M Deal Reshaping India’s Construction Tech Frontier
$150 million in private credit was committed to India’s fastest-growing building materials platform, Infra.Market, to support infrastructure development across APAC.
The credit was provided by Mars Growth Capital, a joint venture between Liquidity and MUFG Bank, Ltd. This follows an option to increase the existing facility by up to $50 million, alongside a 5-year extension of the current $100 million financing package.
Liquidity sat down with Infra.Market’s co-founder Souvik Sengupta to reflect on the financing and what’s ahead.
How did your relationship with Mars Growth Capital begin?
“It started in 2022 at a crucial point in our growth trajectory, when we were expanding rapidly across India and needed a capital investor who understood our scale, speed and ambition. Our favourable rating from Liquidity’s decision-science technology served as a strong validation of our business model and performance. Mars Growth Capital brought financing, but also a genuine understanding of our business model and they’ve grown with us ever since. That trust has evolved into a long-term strategic relationship.”
What sets Mars Growth Capital apart as a funding provider?
“They move with us. Mars Growth Capital has a flexible, founder-aligned approach to capital which is especially valuable in a sector as operationally complex as construction.
Their financing model allows us to preserve equity while unlocking growth and their team works with a hands-on, data-led mindset that still puts people at the centre.”
What impact has their support had on your business?
“It has helped us scale across the value chain, from expanding our footprint across 10,000+ retail touchpoints to deepening our investments in over 250 manufacturing units. This latest $50 million option increase and five-year extension gives us even more headroom to execute globally and build a best-in-class infrastructure platform from India to the world.”
What does the future hold for this business relationship?
“As we plan to expand beyond India, we see Mars Growth Capital not just as a lender, but as a long-term supporter in our mission. Their confidence in our strategy and their willingness to grow with us gives us the conviction to move faster and think bigger.”
Liquidity is proud to support visionary founders reshaping the future of emerging markets by providing capital that meets the pace of their ambition.
