Infra.Market raises USD 50 mn from MARS Growth Capital to grow business

Mumbai, Jun 30 (PTI) Building material platform Infra.Market has raised USD 50 million from MARS Growth Capital for growth of its business.

In a statement on Monday, Infra.Market said MARS Growth Capital has "extended terms of the existing financing of USD 100 million by another five years and also enhanced the financing amount by an additional USD 50 million." This additional financing by MARS in Infra.Market takes its total investment up to USD 150 million, it added.

"This is the company's second fund raising for the year. The company had raised approximately USD 125 million (Rs 10 billion) in Series D financing round earlier this year," Infra.Market said.

MARS Growth Capital is a joint venture between Japan's MUFG Bank Ltd and Liquidity, an AI-driven private credit firm.

Souvik Sengupta, Founder, Infra.Market, said, "We are seeing growth opportunities as we are rapidly expanding our market presence, and create a best in class construction materials company out of India." Founded by Sengupta and Aaditya Sharda in 2016, Infra.Market is a building materials platform, offering end-to-end solutions across the construction value chain.

It delivers more than 15 product categories including Concrete, Walling Solutions, Steel, Aggregates, Pipes & Fittings, MDF, Plywood, Laminates, Tiles, Paints, Modular Kitchens, Designer Hardware, Electricals, Appliances, and Consumer Durables, among others.

Infra.Market caters to both institutional customers and retail outlets in the building materials sector. PTI MJH DRR