We are discussing Infra.Market Secured $50 Million From Mars Unicorn Fund:
Infra.Market is an Indian construction startup that has secured $50 million from MARS Unicorn Fund. The startup supplies building materials and construction materials suppliers. This real estate tech-funded startup has reached $100 million after the investment from MARS. Infra. The market is expected to have $2.5 billion. The previous funding round had participation from Nexus, Tiger Global, Accel, etc.
This startup, founded by Aaditya Sharda and Souvik Sengupta, sells construction materials, technical equipment, and infrastructure goods. The company is targeting the $140 million construction materials market to strengthen its lead in the infrastructure sector. The startup claims to supply its material across 16 cities in India while exporting globally to countries including Singapore, Dubai, Italy, and Jordan. Last year, as part of its plan for market expansion, the startup acquired RDC Concrete for $90 million in September. Infra. The market has raised $500 million across all its debt and equity rounds.
TheKredible reported that the largest external stakeholder of the startup is Tiger Global, which has a 21.33% stake, followed by Accel and Nexus Ventures. This Indian construction startup is one of the few unicorns in the country that managed to have nine times growth in gross scale between FY21 and FY23 while remaining profitable. TheKredible said that the gross revenue of this startup rose to Rs 11,846 crore in FY23; meanwhile, the profit decreased by 17%, reaching Rs 155 crore from Rs 187 crore in FY22. The startup will use this funding to further improve its services, expand in the market, enhance its technology, and scale operations.
The founder and CEO of infra.market told TechCrunch that they would continue to focus on their original vision of becoming India’s Largest multi-product construction material company. The startup aims to transform the supply chain of construction materials domestically and globally. The company is backed by Accel, Foundamental, Nexus Ventures, and Tiger Global. The investors showed trust in this startup by highlighting the company’s work to remake construction and infrastructure projects in India and globally.
Conclusion
An Indian construction startup, Infra.Market secured $50 million from a MUFS-backed fund. After this investment of MARS, the startup reached $100 million, valuing it at $2.5 billion. The startup sells construction materials, technical equipment, and infrastructure goods. To strengthen its lead in the infrastructure sector, the company is targeting the $140 million construction materials market. The startup claims to supply its material across 16 cities in India while exporting globally to countries including Singapore, Dubai, Italy, and Jordan.
The company is backed by Fundamental, Accel, Nexus Ventures, and Tiger Global. The investors showed trust in this startup by highlighting the company’s work to remake construction and infrastructure projects in India and globally. The company is targeting the $140 million construction materials market to strengthen its lead in the infrastructure sector. Besides, it also aims to further develop its flagship design product and a solution around manufacturing and infrastructure. This startup is planning to use this investment for its market expansion.
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