MARS Invests Another $50M in India’s Infra.Market


Infra.Market, an Indian startup aiding construction and real estate firms in procuring materials, has secured $50 million from MARS Unicorn Fund to expand its international operations, the firms disclosed to Truth Voices on Tuesday. 

MARS Unicorn Fund, a collaboration between science and climate-focused Liquidity Group and Japanese bank MUFG, is already an investor in the Mumbai-based startup, having also injected $50 million in 2022. The latest funding round, a primary investment, values Infra.Market at $2.6 billion, according to the startup. 

Infra.Market aims to revolutionize the operations of small businesses in India’s manufacturing sector. By implementing its load cells in manufacturing sites, Infra.Market enhances companies’ quality control and helps them source superior raw materials. It also facilitates customers’ interactions with other businesses that can supply better raw materials and provides pricing guidance.

This is crucial in India, where the construction industry is fragmented and dominated by small firms that often lack the resources and expertise for optimization. The startup claims its technology has empowered small manufacturers to attract larger clients and extend their reach beyond India, garnering clients in Bangladesh, Malaysia, Singapore, and Dubai. 

Infra.Market offers a wide range of construction products under its proprietary brands, catering to both institutional clients and retail outlets in the construction materials sector.

“We are committed to our vision of establishing India’s largest multi-product construction materials brand and transforming the construction materials supply chain on a global scale,” said Souvik Sengupta, founder and CEO of Infra.Market, in a statement. 

“We are witnessing growth opportunities as we swiftly expand our product portfolio and market presence. The launch of new verticals will enable us to enter new markets and establish a top-tier construction materials company originating from India.” 

The startup, backed by Accel, Nexus, Fundamental, and Tiger Global, reported an increase in its supply to retail outlets over the past year. It now serves businesses in 20 Indian states and exports to Dubai, Singapore, and Italy. 

“Liquidity is leveraging technology to transform capital credit markets with unmatched speed and precision. Throughout our evaluation process, we found Infra.Market to be fulfilling its promise of revolutionizing 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 this transaction. 

Manish Singh
Manish Singh
Senior Reporter. Manish covers India’s startup scene and venture capital investments. He also reports on global tech firms’ India play. Previously, Singh wrote for about a dozen publications, including CNBC and VentureBeat. He graduated in Computer Science and Engineering in 2015.

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