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Infra.Market raises $50 Mn from Mars Unicorn Fund

EntrackrEntrackr · 1y ago
Infra.Market raises $50 Mn from Mars Unicorn Fund
Medial

Infra.Market has raised $50 million from MARS Unicorn Fund which is a joint venture of Liquidity Group and MUFG. With this, MARS and Liquidity investment in the company touched $100 million. The two funds previously invested $50 million in Infra.Market in 2022. While the company didn’t disclose its valuation in fresh funding, Infra.Market was reportedly valued at $4 billion in 2022. Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market sells construction materials, infrastructure goods, and technical equipment. It is targeting the $140 construction materials market, with a strong focus on the infrastructure sector. The company caters to both institutional customers (B2B) and retail outlets (D2R) in the construction materials sector. As per the company, it supplies across 16 states in India and exports to markets such as Dubai, Singapore, Jordan, and Italy, among others. Last year, Infra.Market had divested 10% of its stake worth $20 million in RDC Concrete to investors led by Ashish Kacholia. The former had acquired RDC Concrete for $90 million in September 2021. It also has a majority stake in Strata Geosystems, Equiphunt and Halonix. As of now, Infra.Market has raised around $500 million across equity and debt. According to the startup intelligence data platform TheKredible, Tiger Global was the largest external stakeholder with 21.33% followed by Accel and Nexus Ventures which commanded 16.87% and 8.46%, respectively, before this round. Infra.Market is one of the handful of unicorns in the country which managed over nine-fold growth in gross scale between FY21 and FY23 and remained profitable. As per TheKredible, its gross revenue rose to Rs 11,846 crore in FY23 from Rs 1,240 crore in FY21. During the fiscal year ending March 2023, the firm’s profit slipped 17% to Rs 155 crore from Rs 187 crore in FY22. It competes with Zetwerk, OfBuisness and Moglix.

Exclusive: Infra.Market raises $27 Mn in equity and debt

EntrackrEntrackr · 11m ago
Exclusive: Infra.Market raises $27 Mn in equity and debt
Medial

Construction goods and services platform Infra.Market is raising up to Rs 150 crore (approximately $18 million) in its Series E2 funding round. The new money hit the company’s coffers just three months after the announcement of $50 million from the Mars Fund. The board at Infra.Market has passed a resolution to issue 7,028 Series E2 preference shares at an issue price of Rs 213438.7 each to raise Rs 150 crore or $18 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Out of the total sum of Rs 150 crores, the company has already received Rs 76.3 crores. Amit Vijaysinh Barad and Barad Sanjay Amarsinh have invested Rs 45 crores together, with the remaining funds contributed by various individual shareholders. Importantly, the Tiger Global-backed company also secured Rs 75 crore ($9 million) in debt funding from Innoven Capital. The firm also closed its Rs 150 crore debt round Yubi In July. According to TheKredible estimates, the company has been valued at around $2.6 billion post-allotment. The new funding seems to be part of a $150-200 million round that the company is eyeing. The firm is also preparing for an initial public offering (IPO), and may file its draft red herring prospectus (DRHP) soon. Infra.Market has raised around $540 million across equity and debt To date. According to the startup intelligence data platform TheKredible, Tiger Global remains the largest external stakeholder followed by Accel and Nexus Ventures after the allotment of the fresh infusion. Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market sells construction materials, infrastructure goods, and technical equipment. It is targeting the growing construction materials market, with a strong focus on the infrastructure sector. While the company is yet to file its annual statements for FY24, Infra.Market’s gross revenue rose 89% to Rs 11,846 crore in FY23. Its profit slipped 17% to Rs 155 crore in the same period (FY23). Infra.Market’s competition includes OfBusiness, Moglix, and Zetwerk, MetalBook, among others. Notably, OfBusiness is also eyeing to get listed on stock exchanges in the next fiscal year (FY26).

Infra.Market secures $150 Mn from Mars Growth Capital

EntrackrEntrackr · 2m ago
Infra.Market secures $150 Mn from Mars Growth Capital
Medial

Infra.Market secures $150 Mn from Mars Growth Capital Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market provides end-to-end building materials solutions and serves both institutional (B2B) and retail (B2R) segments. Building materials marketplace Infra.Market has secured a $150 million debt financing facility from Mars Growth Capital, a joint venture between Liquidity Group and MUFG Bank. The latest infusion includes a $50 million top-up to an existing $100 million facility, which has also been extended by another five years. This marks Infra.Market’s second major funding deal in 2025. Earlier this year, the Mumbai-based company raised around $125 million in a Series D round from existing investor Tiger Global. Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market provides end-to-end building materials solutions and serves both institutional (B2B) and retail (B2R) segments. The company claims to be the second-largest player in India by revenue in the ready-mix concrete (RMC) segment and the second-largest by capacity in autoclaved aerated concrete (AAC) blocks and flooring tiles. Infra.Market said it is targeting India’s $255 billion construction materials market and is rapidly expanding its footprint. The platform currently offers more than 15 product categories and has a presence across over 10,000 retail touchpoints, with more than 250 manufacturing partnerships. It also has investments in brands such as RDC Concrete, Shalimar Paints, Emcer, Millennium Tiles, and Amstrad. Backed by investors such as Tiger Global, Accel, Nexus Venture Partners, and Evolvence, Infra.Market was last valued at around $2.5 billion. The company also made headlines in 2022 when it acquired a majority stake in RDC Concrete for around Rs 1,000 crore. Infra.Market’s consolidated gross revenue grew to Rs 14,530 crore in FY24 from Rs 11,847 crore in FY23. Its profit also saw a 2.4X jump to Rs 378 crore in FY24. Infra.Market’s competitors OfBusiness, Zetwerk, and Moglix recorded gross revenues of Rs 19,296 crore, Rs 14,436 crore, and Rs 4,964 crore, respectively, during FY24.

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