Garage Raises Rs 384 Crore for Used Equipment Market
The AI-assisted marketplace, valued at Rs 2,107.65 crore, plans to expand into public works and sanitation equipment.
Updated on Nov. 11, 2026 in Startups
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Would you trust your local government to sell surplus equipment through an online marketplace?
Garage, an online marketplace for used emergency vehicles and heavy equipment, raised Rs 384.17 crore in Series B funding led by Invus Opportunities, valuing the company at Rs 2,107.65 crore. The round is an established funding event, not a product announcement.
Why it matters
The raise lifts Garage's total funding to Rs 562.20 crore and signals investor appetite for AI-assisted marketplaces in niche, asset-heavy categories. Garage's model connects buyers and sellers directly without purchasing or storing vehicles, a trajectory that reduces inventory risk for platforms in used-equipment resale.
The figures are company-reported: the Series B amount, the Rs 2,107.65 crore valuation and the Rs 937 crore annualised equipment sales are presented by Garage and its investors rather than independently audited. The extraction does not provide a comparator for sales growth or a benchmark against other used-equipment marketplaces.
The players
Garage
An online marketplace for used emergency vehicles and heavy equipment that uses AI for appraisal and logistics coordination.
Invus Opportunities
The investment firm that led Garage's Series B funding round.
Y Combinator
The startup accelerator whose winter 2024 programme Garage's founders joined.
The details
Garage connects buyers and sellers of used emergency vehicles and heavy equipment directly, so it does not purchase or store the vehicles itself. Its platform uses artificial intelligence to appraise equipment and coordinate transportation, and it also offers financing, delivery estimates and optional warranties. The model relies on matching and logistics software rather than owning inventory.
Timeline
2023: A former colleague of co-founder Martin Hunt sought advice on selling equipment, prompting the idea for the marketplace.
Winter 2024: Hunt and co-founder Alaz Sengul joined Y Combinator's winter 2024 programme.
2025: A fire department in Hunt's hometown sold a fire engine through Garage.
November 10: Fortune published a report on Garage's funding round.
The Tech Race
Garage's Series B places it among AI-assisted vertical marketplaces competing for used heavy equipment resale, a segment dominated by established auction houses. The company's trajectory from a 2023 idea to a Rs 2,107.65 crore valuation shows how a software-first model can challenge incumbents in asset-heavy categories.
Buyers and sellers of used emergency vehicles and heavy equipment in the United States and Canada can already transact through Garage, which offers financing, delivery estimates and optional warranties. The company says the new funding will support hiring and expansion into public works and sanitation equipment, but no dates for those launches were given.
The takeaway
Watch whether Garage's expansion into public works and sanitation equipment launches on a stated timeline, since that would test the model beyond emergency vehicles. The next verifiable signal is the company's announced hiring and any new category going live on its platform.
Further reading
For more on the companies shaping this market, explore the Startups section.
Live Poll
Would you trust your local government to sell surplus equipment through an online marketplace?
