PE Fund Investments
Infra.Market raises $50-M more from Mars Unicorn Fund
Thane-based construction materials provider Infra.Market has raised USD 50 million (about INR 416 crore) at a valuation of USD 2.5 billion in a funding round from Mars Unicorn Fund, a joint venture of Liquidity Group and Mitsubishi UFJ Financial Group. The valuation of the company in the new round (structured via both debt and equity) is the same as that in 2021 when it had raised USD 125 million from investors led by Tiger Global. The new funds will be used to enter new global markets and broaden the company’s presence across different product verticals.With this round of funding, Mars Unicorn Fund and Liquidity Group have increased their total investment in the company to USD 100 million. In 2022, the fund had invested USD 50 million in Infra.Market.Founded in 2016 by Souvik Sengupta and Aaditya Sharda, the company supplies a diverse range of building materials spanning more than 15 categories. These include concrete, steel, pipes and fittings, plywood, fans, lights, and kitchen and electrical appliances. In 2023-24, its revenue was about INR 14,000 crore and net profit was INR 300 crore.
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