India-based business-to-business (B2B) construction material startup unicorn Infra.market raised USD 50 million as growth capital. The funding news was announced on June 13, 2022. Liquidity’s Group MARS Unicorn Fund led the funding for Infra.market. The valuation of the startup, however, remains undisclosed as of yet.
Purpose of Funding for Infra.market
The company will use the latest capital infusion f to cater to newer global markets. It will boost its presence across product verticals such as chemical verticals.
On the customer side, Infra.Market aims to address issues such as lack of price transparency, unreliable quality, fragmented vendor base, and inefficient logistics.
Meanwhile, on the supplier side, it wants to ensure higher capacity utilisation, steady demand, and better customer reach. Infra.market aims to create a one-stop full-stack procurement solution for the chemical industry. It wants to tap into the manufacturing abilities of Indian chemical manufacturers and help them increase their global footprint by providing access to newer markets, supply chain solutions and raw materials for their manufacturing processes.
What the founder has to say
Souvik Sengupta, Founder, Infra.Market said, “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 also embarking on new business verticals outside the construction ecosystem, such as chemicals, to enable us to provide end-to-end solutions to our customers across multiple industries. Further, we are seeing huge growth opportunities as we rapidly expand our product portfolio and market presence. Launching new verticals will help us seed newer markets and create a best-in-class global commerce company out of India.”
What the investor has to say
Ron Daniel, Co-founder and CEO, Liquidity Group, said, “Liquidity is using technology to transform capital credit markets with unrivalled 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 as well as beyond.”
About Infra.market
In 2016 Souvik Sengupta and Aaditya Sharda brought the Mumbai-based Infra.Market into existence. The platform is an on-demand construction materials marketplace that taps into the B2B segment. It leverages technology for quality control and supply chain visibility. In 2021, the company launched Chemical.Market, which is a B2B fulfilment platform for the chemical industry, has significant global opportunities.
Infra. market’s own brands contribute more than half of its revenue. The company’s export businesses soared to over 25% of revenue. Meanwhile, its presence increased to more than ten countries. Its supply chain exists across 16 states and exports to markets such as Dubai, Singapore, Jordan, and Italy.
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