MARS doubles its commitment to India’s Infra.Market with a new investment of $50 million

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 looks to expand its operations abroad, the companies told TechCrunch on Tuesday.

MARS Unicorn Fund, a joint venture between science- and climate-driven Liquidity Group and Japanese bank MUFG, is an existing backer of the Mumbai-based startup, and has invested $50 million in it in 2022 .The new investment, a primary fundraising, values ​​Infra .Mercado 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 have better control of quality control and helps them source better raw materials. Customers also work with other companies that can provide them with better raw materials and guide them on prices.

This is a major issue in India, where the construction industry 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 serves both institutional clients and retail outlets 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,” the founder said in a statement. and CEO of the startup, Souvik Sengupta. .

“We are seeing growth opportunities as we rapidly expand our product portfolio and market presence, and launching new verticals will help us seed new markets and create a best-in-class building materials company in India” .

The startup, backed by Accel, Nexus, Fundamental and Tiger Global, said it has increased supply to retail outlets over the past 12 months. It now supplies companies in 20 states in India and exports to Dubai, Singapore and Italy.

“Liquidity is using technology to transform capital credit markets with unmatched speed and precision. At every step of the process, our Infra.Market assessment showed that a company delivered 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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