Startup Infra.Market raises $50 million from MARS unicorn fund to expand business
The fund had previously invested USD 50 million in Infra.Market in 2022.Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.
Startup Infra.Market, which is into construction materials, has raised USD 50 million from MARS Unicorn Fund to expand business.
In a statement, the company, which is valued at USD 2.5 billion, said it has "successfully closed additional funding from MARS Unicorn Fund, a joint venture from Liquidity Group and MUFG".
This additional funding in Infra.Market by MARS Unicorn Fund takes its total investment up to USD 100 million.
The fund had previously invested USD 50 million in Infra.Market in 2022.Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.
Market is a construction materials supplier. It is targeting the USD 140 billion construction materials market, with a strong focus on the infrastructure sector.
"Infra.Market intends to use the proceeds of the latest raise to cater to newer global markets and increase its presence across product verticals," the statement said.Infra.Market caters to both institutional customers (B2B) and retail outlets (D2R) in the construction materials sector.
It supplies across 20 states in India and exports to multiple global markets such as Dubai, Singapore, and Italy.
The company supplies more than 15 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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
07:36 PM IST