Infra.Market, the building materials marketplace, has secured a $150 million debt financing facility from Mars Growth Capital, a joint venture of Liquidity Group and MUFG Bank. The latest infusion includes a $50 million increase to an existing $100 million facility, which has also been extended for another five years.

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

Key Highlights

• Infra.Market secures additional $50 million debt from Mars Growth Capital, raising total financing to $150 million.
• Funding supports pre-IPO expansion into concrete and AAC block manufacturing ahead of draft IPO filing.

Infra.Market, founded in 2016 by Souvik Sengupta and Aaditya Sharda, offers end-to-end building materials solutions to both institutions (B2B) and retailers (B2R). The company claims to be India's second-largest ready-mix concrete (RMC) revenue player, as well as the second-largest autoclaved aerated concrete (AAC) block and flooring tile manufacturer.

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Infra.Market stated that it is targeting India's $255 billion construction materials market and is rapidly expanding its presence. The platform currently offers over 15 product categories and has a presence in over 10,000 retail touchpoints, as well as 250 manufacturing partnerships. It has also made investments in RDC Concrete, Shalimar Paints, Emcer, Millennium Tiles, and Amstrad.

Supported by investors such as Tiger Global, Accel, Nexus Venture Partners, and Evolvence, Infra.Market was last valued at approximately $2.5 billion. The company gained notoriety in 2022 when it paid about Rs 1,000 crore to acquire a majority stake in RDC Concrete

The combined gross revenue of Infra.Market climbed from Rs 11,847 crore in FY23 to Rs 14,530 crore in FY24. Its profit also increased 2.4 times to Rs 378 crore in FY24. Infra.Market's competitors, OfBusiness, Zetwerk, and Moglix, reported gross revenues of Rs 19,296 crore, Rs 14,436 crore, and Rs 4,964 crore, respectively, in FY24.