Infra.Market secures vote of confidence from MARS Growth Capital, doubling its total commitment from $50M to $100M USD
MUMBAI, India, May 28, 2024 /PRNewswire/ — Infra.Market, a construction material solutions company that leverages technology to provide an enhanced procurement experience for all players in the construction ecosystem, today announced that it has successfully closed additional financing from MARS Unicorn Fund, a joint venture from Liquidity Group, the world’s largest AI-driven asset manager, and MUFG, Japan’s largest financial group. This additional funding by MARS and Liquidity increases the total financing from $50 million in 2022 to $100 million USD. Infra.Market intends to use the proceeds of the latest raise to cater to newer global markets and increase its presence across product verticals.
Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market is a construction solutions company with a vision of creating India’s largest multi-product construction materials brand and transforming the entire supply chain globally.
The additional financing by MARS and Liquidity in Infra.Market, now totaling $100 million USD, is a testament to the strong relationships cultivated with the company and its founders, as well as an AI-driven analysis of the company’s future financial integrity and execution — a proprietary technology developed by Liquidity Group. It also demonstrates the firm’s strategy of partnering with late-stage technology companies on multiple large-scale financing solutions necessary to support high-growth opportunities.
Navas Ebin Muhammed, Managing Director & Head of APAC, Liquidity Group, added, "This upsize reflects our commitment to supporting exceptional companies not only in India but also across the entire APAC region. We are seeing a growing demand for scaled financing solutions in India and are pleased to have Mars Growth Capital help answer that need."
Infra.Market is targeting the $140 billion construction materials market, with a strong focus on the infrastructure sector. The announcement also comes on the heels of the ongoing increase in allocation for infrastructure projects under India’s National Infrastructure Pipeline, which has planned projects worth $2 trillion USD to be deployed over the next few years.
Souvik Sengupta, Founder, Infra.Market, commented, "We continue to build on our vision of creating India’s largest multi-product construction materials brand and transforming the construction materials supply chain, not only in India, but also globally. We are seeing growth opportunities as we are rapidly expanding our product portfolio and market presence, and the launch of new verticals will help us seed newer markets and create a best-in-class construction materials company out of India."
Infra.Market focuses on high-volume construction products under its own brands. On the customer side, it aims to solve existing issues such as a lack of price transparency, unreliable quality, a fragmented vendor base and inefficient logistics. On the supplier side, it ensures higher capacity utilization, a steady demand and better customer reach.
Infra.Market caters to both institutional customers (B2B) and retail outlets (D2R) in the construction materials sector. Over the last 12 months, it has grown supply to retail outlets steadily and follows a dual model of flagship stores (for catering to smaller stores) and dealership stores (for retail customers). It supplies across 20 states in India and exports to multiple global markets, such as Dubai, Singapore, Italy and more.
Commenting on the transaction, Ron Daniel, Co-Founder & CEO, Liquidity Group, notes, "Liquidity is using technology to transform capital credit markets with unrivaled 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. We are thrilled to continue supporting the company, its management and its mission."
About MARS Growth Capital:
Founded in 2021 and with $1.5bn AUM, MARS Growth Capital is a joint venture between Japan’s largest financial group, MUFG, and Liquidity Group, the largest AI-driven financial asset management firm in the world. Leveraging Liquidity Group’s decision-science technology, MARS Growth Capital deploys both non-dilutive, as well as equity financing solutions in the range of $3-100mm to mid-market, late-stage, and pre-IPO technology companies in APAC, Japan, and Europe. For more information, visit: marsgrowth.com.
About Liquidity Group:
Liquidity Group is the largest AI-driven tech-enhanced financial asset management firm in the world. With $2.35B AUM across funds focused on North America, Asia-Pacific, Europe, and the Middle East, Liquidity Group operates globally with offices in London, New York, Singapore, Tel-Aviv, Abu Dhabi and San Francisco. The firm’s patented machine learning and decision science technology enables it to deploy more capital through more deals faster than any firm in capital markets history, establishing it as the fastest-growing provider of non-dilutive and equity financing to mid-market and late-stage companies. Liquidity Group is backed by leading global financial institutions including Japan’s largest bank, MUFG, Spark Capital, and Apollo Asset Management. For more information, visit www.liquiditygroup.com.
About Infra.Market:
Founded in 2016 and valued today at $2.5 billion, Infra.Market is a company rebuilding the future of construction in India. With innovative business planning and smart use of technology, it is the only company in the country to seamlessly supply over 15 different building material product categories including Concrete, AAC Blocks, Steel, Pipes & Fittings, MDF, Plywood, Laminates, Tiles, Bath Fittings & Sanitary, Fans, Lights, Kitchen and Electrical Appliances, Modular Kitchens & Wardrobes, Designer Hardware and Paints. For more information, visit www.infra.market.
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