MARS Unicorn Fund pumps $50 million into Indian start-up Infra.Market
The Mumbai-based start-up, Infra.Market, has received a fresh investment of $50 million from MARS Unicorn Fund. This fund is a collaborative venture between AI-driven Liquidity Group and Japanese bank MUFG. This marks the second time MARS has invested in Infra.Market, following an initial $50 million funding round in 2022. The latest investment includes both debt and equity, and is aimed at the Singapore unit of Infra.Market, keeping its valuation steady at $2.5 billion.
Revolutionizing India's manufacturing sector
Infra.Market is transforming operations for small businesses in India's manufacturing sector, by installing load cells in manufacturing facilities. This technology aids in quality control and sourcing superior raw materials. As a result, smaller manufacturers have been able to attract larger clients and extend their reach beyond India to nations like Bangladesh, Malaysia, Singapore, and Dubai. The start-up also offers high-volume construction goods under its own brands, to both institutional customers and retail outlets in the construction materials sector.
Infra.Market's vision and future plans
Infra.Market's founder and CEO, Souvik Sengupta, stated that the company is focused on building India's largest multi-product construction materials brand. It aims to transform the construction materials supply chain not only in India but globally. The new investment will be used to expand global operations and increase product categories. Over the past year, Infra.Market has expanded its supply to retail outlets across 20 Indian states and exported to Dubai, Singapore, and Italy.
Infra.Market's revenue growth and future prospects
Infra.Market has shown significant financial growth, with its revenue increasing from ₹6,236 crore in 2021-22, to ₹11,846 crore in FY23. Ron Daniel, co-founder and CEO of Liquidity Group, praised the firm for delivering on its promise to transform construction and infrastructure projects, across India and beyond. The latest funding round comes amid an increase in allocation for infrastructure projects, under India's National Infrastructure Pipeline initiative planning $2 trillion worth of projects over the next few years.
