M&A

M&A

Infra.Market acquires equipment platform Equiphunt

Mint  

Thane-based Infra.Market, a Unicorn marketplace for construction materials,has acquired a majority stake in Hyderabad-based Sociam Equipment Solutions Pvt Ltd, which owns the brand Equiphunt. Post deal, Sociam founder Shashank Dangayach will continue to head the firm. Manish Sharma, who was heading the equipment vertical at InfraMarket, will join the board of Sociam. 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. It has expanded its presence in more than 25 cities across India since inception and has more than 4,000 equipment listed on its platform.