Marketplace for construction materials, Infra.Market has acquired a majority stake in equipment solutions platform, Sociam Equipment Solutions Pvt. Sociam Equipment, which owns the brand Equiphunt, is a construction equipment rental and equipment auction platform which leverages its in-house internet-of-things (IoT) platform for improved utilisation of machinery and enhancing scalability in operations. As a part of the transaction, founder of Equiphunt, Shashank Dangayach, will continue to head Equiphunt. Further, Manish Sharma who was heading the equipment vertical at InfraMarket will join the board of Equiphunt and help build out Equiphunt. Equiphunt team has successfully built a pioneering construction equipment management platform and we are excited to partner with them to build out India’s largest digitised equipment solutions platform," said Aaditya Sharda, co-founder of Infra.Market.

Source: Mint May 30, 2021 15:46 UTC