Infra.Market snags $50 mn from Liquidity Group's MARS Unicorn Fund
The company will use the fresh proceeds to cater to newer global markets and boost its presence across product verticals, especially in its chemical vertical, said Infra.Market in a statement.
Last year, Infra.Market had launched a new platform Chemical.Market focused on the chemical industry. "We are also embarking on new business verticals outside the construction ecosystem such as chemicals to enable us to provide end-to-end solutions to our customers across the multiple industries," said Souvik Sengupta, Founder, Infra.Market. Operated by Hella Infra Market Ltd, Infra.Market was founded in 2016 by Sengupta and Aaditya Sharda as a procurement marketplace that leverages technology to provide an enhanced procurement experience for all players in the construction ecosystem. The company provides products such as ready-mix concrete, fly ash and construction chemicals.
The Maharashtra-based company caters to both institutional customers (B2B) and retail outlets (D2R) in the construction materials sector and has grown supply to retail outlets and follows a dual model of flagship stores (for catering to smaller stores) and dealership stores (for retail customers). It supplies across 16 states in India and exports to markets such as Dubai, Singapore, Jordan, and Italy.
Prior to this fundraise, Infra.Market raised $125 million ($928 crore) in a Series D funding round led by Tiger Global at a valuation of $2.5 billion in August last year. That funding round had come just months after Infra.Market hit unicorn status after raising $100 million in a Series C investment round from its existing investors including Tiger Global, Accel, Nexus Venture Partners, Evolvence India Fund, Sistema Asia Fund and Foundamental Gmbh. A unicorn is a privately-held startup valued at more than $1 billion.
Ron Daniel, Co-Founder & CEO, Liquidity Group, noted that the fund is using technology to transform capital credit markets with unrivalled 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," added Daniel. Tel Aviv-based Liquidity's MARS Unicorn fund invests in a future-ready AI platform in the Southeast Asian market, the statement said. The statement noted that Infra.Market does over a billion dollars in annual revenue and is expected to more than double that by the end of this year. Its export business has increased to over 25% of its revenue, it added. The company has also made some strategic bets in the past months.
Earlier in January, Infra.Market was set to invest Rs 270 crore in Indian paint manufacturing company Shalimar Paints Ltd, according to a stock market disclosure. In September last year, Infra.Market agreed to acquire RDC Concrete from private equity firm True North just months after it picked a majority stake in Hyderabad-based construction equipment rental service Equiphunt in May 2021 for $10 million.
Liquidity is the world’s leading pioneer of bespoke technology for private credit, powered by advanced infrastructure with AI at its core. It defines a new standard in capital allocation through a nexus of the sharpest minds in private credit and technology.
Proven at scale in Liquidity’s own multi-billion-dollar private credit business, this technology deploys capital faster than any firm in capital markets history—with unmatched speed, precision, and adaptability across North America, Europe, APAC and MENA.
Liquidity develops bespoke technology infrastructure for banks and asset managers, embedding intelligent decision science across the full credit lifecycle from origination to compliance, while serving visionary growth-stage and mid-market companies in 45+ sectors through its own structures and funds.
Built on trust and backed by leading institutions including MUFG Bank Ltd., Spark Capital, KeyBank, Cross River Bank, Meitav Dash, IDB Bank, and others. Visit liquidity.com.
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