The Munich-based startup Klarx has raised €12.5 million. The online rental platform for construction equipment plans to use the funds to further grow and expand. Investors are B&C Innovation Investments (BCII) and existing investor Target Global.
Klarx is committed to Digitalization of the construction industry With the new financing round of €12.5 million, the Munich-based company aims to bring the construction equipment rental market across Europe into the digital age. The lead investor is B&C Innovation Investments (BCII). Existing investor Target Global is participating in the current financing round. The last financing round was a year ago. At that time, the Munich-based 4 million euros collected.
“With the additional financing, we will further accelerate our strong international growth and sustainably change construction procurement through our technology platform,”
commented co-founder and managing director Florian Handschuh the financing round.
Founded in the fall of 2015, the startup has now processed over 50,000 rental requests and served thousands of customers. Major customers such as Strabag and Deutsche Bahn are already benefiting from the time and financial savings Klarx offers. The total market volume of the digital rental market for construction equipment in Europe is €25 billion.
The product will be further developed with the help of the capital injection. In the future, not only will machines be made available for rental, but a digital scheduling tool will also be provided for landlords and construction companies across Europe.
"The Austrian-German founding and management team and Klarx's previous business successes have convinced us. Now is the right time to further expand our business areas in Austria and Germany and to expand into other countries,"
explained Thomas Zimpfer, Managing Director of BCII. The investor will also be advising the startup with experts from the industrial and construction sectors. Existing investor Target Global is also pleased to continue supporting Klarx. Ben Kaminski, Partner at Target Global emphasizes:
“The company is driving the transformation process in the industry and is increasingly becoming a central part of the value chain for customers and suppliers.”
