Maquina, an online marketplace which offers construction equipment on its platform by connecting equipment lessors, lessees, buyers and sellers., has raised an undisclosed amount of funding in a fresh round from SPML Infra Ltd.
The company, which was founded about an year ago, has not disclosed any further information related to finance of this round or any other terms associated with the deal. It was founded by S K Vasishat, Amit Nagpal, Kamal Jeet Singh and Adityajay Khajuria.
Commenting about the company and its vision, Amit Nagpal, Director of Maquina Mercantile, said,
With this push the feeling of responsibility to re-organise the construction equipment market grows within us and we shall strive to deliver the best to the market. Our vision is to add value to the construction equipment market by introducing technology and innovation and giving controls to the equipment owners and end users.
Maquina, owned and operated by Maquina Mercantile, is a sister company of Ajashy Engineering Sales, an offshore and onshore cross country pipeline equipment manufacturing company which offers many value added services, such as, equipment tracking, fuel management, MIS reports, AMCs, O&M services, repair, etc.
As per the statement issued, SPML Infra Limited is a three-decade old publicly-listed infrastructure development company that has managed and implemented over 600 projects in water supply and management, waste water treatment and reuse, sewer-line rehabilitation and power development, transmission and distribution across India.
Commenting about the investment, Rishab Sethi, executive director of SPML Infra, said,
Maquina goes a step ahead in giving the lessors and lessees full control of the usage of equipment and allows project managers to utilise their key resources in timely execution of the projects which directly improves the credibility of any organization.