An online rental and sales marketplace, Quipster will also provide IoT solutions, integrated asset management and financial/insurance products
WebTrace, an IoT platform to monitor vehicle assets, has merged with online heavy equipment rental startup TraktorHub to form Quipster.
An online rental and sales marketplace for the construction, logistics, and mining industries, Quipster will also provide IoT solutions, integrated asset management, and financial/insurance products.
The deal value is undisclosed.
Quipster will act as a holding company for both WebTrace and TraktorHub while each entity will still operate with the integration process ongoing. Both WebTrace and TraktorHub are backed by Prasetia Dwidharma.
“At Quipster, we aim to be able to provide a simplified journey and comprehensive solution for heavy equipment sales, rental, management and monitoring. This will enable equipment owners and users to offload the complexity to Quipster, thus allowing increased productivity on their business,” said Rezka Fonda, Co-Founder of TraktorHub.
TraktorHub is an online rental platform for heavy equipment that aims to simplify the process of searching, procuring and logistics for its customers.
Webtrace, on the other hand, is a sustainable IoT solution for the fleet and mobile workforce. It focuses on delivering time and cost-saving solutions, enabling customers to improve their fleet’s and workforces’ utilisation, reduce unnecessary cost, and convert it to more profits. The firm is also backed by Corin Capital and Astra Mitra Ventura.
The construction, logistic, and mining activities in Southeast Asia have increased significantly over the last couple of years. This is due to the rising government spending for upgrading existing infrastructure combined with new projects, especially in countries like Indonesia, which resulted in the growing demand for heavy equipment in the region.
According to the 2021 Mordor Intelligence report, Indonesia will be ranked third among the ASEAN construction equipment rental markets, following Thailand and Vietnam. The archipelago is witnessing significant infrastructure development activities, owing to which the demand for construction, logistic, and mining equipment is increasing.