Indian construction unicorn raises $50m from MUFG-backed fund

Company looks to grab slice of country's growing infrastructure budget

Laborers work at a construction site in Ahmedabad, India: Infra.Market, an Indian construction materials company, hopes to cash in as the country expands its infrastructure budget. © Reuters

VIBHUTI SHARMA, DealStreetAsia

May 29, 2024 11:12 JST

NEW DELHI -- India-based construction materials company Infra.Market on Tuesday said it has raised $50 million in funding from MARS Unicorn Fund, a joint venture between Israel-based Liquidity Group and Japan's Mitsubishi UFJ Financial Group.

The fund had earlier invested $50 million in Infra.Market two years ago.