Infra.Market secures $150 Mn from Mars Growth Capital

Building materials marketplace Infra.Market has secured a $150 million debt financing facility from Mars Growth Capital, a joint venture between Liquidity Group and MUFG Bank. The latest infusion includes a $50 million top-up to an existing $100 million facility, which has also been extended by another five years.

This marks Infra.Market’s second major funding deal in 2025. Earlier this year, the Mumbai-based company raised around $125 million in a Series D round from existing investor Tiger Global.

Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market provides end-to-end building materials solutions and serves both institutional (B2B) and retail (B2R) segments. The company claims to be the second-largest player in India by revenue in the ready-mix concrete (RMC) segment and the second-largest by capacity in autoclaved aerated concrete (AAC) blocks and flooring tiles.

Infra.Market said it is targeting India’s $255 billion construction materials market and is rapidly expanding its footprint. The platform currently offers more than 15 product categories and has a presence across over 10,000 retail touchpoints, with more than 250 manufacturing partnerships. It also has investments in brands such as RDC Concrete, Shalimar Paints, Emcer, Millennium Tiles, and Amstrad.

Backed by investors such as Tiger Global, Accel, Nexus Venture Partners, and Evolvence, Infra.Market was last valued at around $2.5 billion. The company also made headlines in 2022 when it acquired a majority stake in RDC Concrete for around Rs 1,000 crore.

Infra.Market’s consolidated gross revenue grew to Rs 14,530 crore in FY24 from Rs 11,847 crore in FY23. Its profit also saw a 2.4X jump to Rs 378 crore in FY24. Infra.Market’s competitors OfBusiness, Zetwerk, and Moglix recorded gross revenues of Rs 19,296 crore, Rs 14,436 crore, and Rs 4,964 crore, respectively, during FY24.