klarx, a Munich, Germany-based online platform for construction machinery rental, raised €12.5m in funding.
The round was led by B&C Innovation Investments GmbH (BCII), with participation from existing investor Target Global.
The company intends to use the funds to facilitate further product development and expansion into new European markets.
Founded in 2015 by brothers Matthias and Florian Handschuh, together with Vincent Koch, klarx is a digital platform for construction equipment rental.
The company’s business model vertically integrates more than 4,000 rental partners to allow construction companies to access, rent and manage more than 250,000 types of machinery online.
To date, more than 50,000 rental requests have been handled for thousands of customers, including Strabag, Deutsche Bahn and Unger Steel.
klarx has a team of over 60 employees who work passionately on the vision to become the leading supply platform for construction sites in Europe.