Funding story
Ventures which provide equipment and services on which other companies are dependant are in greater demand than ever before. In particular, the expansion of their services into the digital sphere has resulted in their operations becoming more efficient. One such startup, Maquina Mercantile, which owns a marketplace for construction equipment, recently succeeded in raising an undisclosed amount of funding from the promoters of SPML Infra Limited. Set up by Amit Nagpal, S K Vaishat, Kamaljeet Singh and Adityajay Khajuria a year ago, Maquina is a sister company of Ajashy Engineering Sales, a pipeline equipment company.
About Ajashy and Maquina
Ajashy’s services are of an extremely diverse range, and includes fuel management, analytics, repair and manpower training. Maquina allows it to provide a host of value-added services, especially since the real estate boom has made construction equipment, and the personnel operating them, invaluable. According to Rishabh Sethi, executive director of SPML Infra, Maquina’s bright prospects are ensured by its intelligent resource utilization, and by its transparent and beneficial contracts which allow lessors and lessees to be given full control over the equipment which they require. According to Amit, Maquina’s principal focus is on enhancing the technological base of the company .It also strives to ensure that the lessees are able to utilize construction equipment to its fullest potential. With “smart”, cost-effective engineering being the need of the hour, Maquina’s efforts on promoting tech-intensive work is sure to be a step in the right direction. The raised funding is also expected to be used for these purposes.
On SPML, and conclusion
Maquina’s backers, SPML, have an illustrious record of three decades of financing and implementing infrastructure development. SPML is backed by Cite Venture Capital International, which pumped in $32.78 million to the startup’s coffers in 2007. SPML has alreadt implemented over 600 projects in water supply and management, waste water treatment and reuse, sewer-line rehabilitation and related fields. Its partnership with Maquina is thus certain to be beneficial for both entities.
