Klarx, the online rental platform for construction equipment, has closed a Series A financing round of €4 million. With this investment, the Munich-based startup aims to further advance digitalization in the construction industry.
The Munich startup klarx With the financing of over 4 million euros, the company aims to bring the rental market for construction equipment into the digital age. The lead investor in this financing round is the Berlin-based VC fund Target Global, which, together with Flixbus-founders and 'Delivery Hero' founder Lukasz Gadowski invested in the construction machinery platform.
The platform is a pioneer in the digitalization of the construction equipment rental market. The market has an annual volume of 25 billion euros in Europe alone.
“This is a market that has twice the volume of the car rental market and yet still operates completely analogue,”
says Ben Kaminski, Partner at Target Global.
The financing round was led by Target Global's new Mobility 2.0 fund. The fund invests in disruptive startups that have the potential to transform entire industries through logistics and new sharing models. Investors are impressed by klarx, as the startup has quickly established itself as a leader in the digitalization of construction equipment rental.
Established on the market within three years
The company was founded in Munich in 2015 by brothers Matthias and Florian Handschuh, together with Vincent Koch. Since its founding, the startup has already served thousands of customers, including major companies such as Strabag and Deutsche Bahn. Co-founder and Managing Director Florian Handschuh explained:
“The incredible acceptance we are experiencing in the market confirms that the construction industry is demanding efficient procurement channels.”
The company works with a comprehensive partner network that makes well over 200,000 machines available for rental throughout Germany. Customers can find the machine they're looking for with just a few clicks and also book its logistics and insurance through klarx. This allows the Munich-based company to automate many labor-intensive processes, creating a win-win situation for both customers and lessors.
Klarx intends to use the funding to expand its team to further develop the platform and strengthen strategic partnerships in Germany and Europe.
