Infra.Market Raises $50 Million In Growth Capital
The fresh fund will be used to enhance the company's technological offerings and advance their initiatives in new global markets
Infra.Market, a construction materials marketplace leveraging technology for quality control and supply chain visibility, has raised $50 million in growth capital from Liquidity Group's MARS Unicorn Fund. The fresh fund will be used to enhance the company's technological offerings and advance their initiatives in new global markets.
"We are 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 the multiple industries. We are seeing huge growth opportunities as we are rapidly expanding our product portfolio and market presence and the launch of new verticals will help us seed newer markets and create a best-in-class global commerce company out of India," said Souvik Sengupta, founder, Infra.Market.
The company currently does over a billion dollar in annual revenue and is expected to more than double that by the end of this year and is growing five times year-on-year with best-in-class profitability. The company has also seen its export business escalating to over 25 per cent of its revenue with its presence increasing to more than 10 countries, claimed by the company in a statement.
"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 and beyond," said Ron Daniel, co-founder and CEO, Liquidity Group.
Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market is a construction solutions company that leverages technology to provide an enhanced procurement experience for all players in the construction ecosystem. On the customer side, it aims to solve existing issues such as lack of price transparency, unreliable quality fragmented vendor base and inefficient logistics. On the supplier side, it ensures higher capacity utilization, steady demand and better customer reach.