Pranav Kiran · · 1 min readJapanese construction equipment startup raises $8.2m from Sumitomo, Itochu
Tokyo-based Sorabito, which runs an online marketplace for used construction equipment, said it had raised US$8.2 million from Japanese trading house Sumitomo Corporation and Itochu Construction Machinery.
Photo credit: Rico S. / Pixabay
“With the funds, we’ll further improve our existing AllStocker service and accelerate the development of a range of new services that resolve issues submitted by owners of construction machinery,” said Sorabito CEO Takayuki Aoki.
He added that the company, which was founded in 2014, will expand its customer base and leverage on the investors’ industry expertise and overseas investments.
Currency converted from Japanese yen. Rate: US$1 = ¥109.66
Editing by Charmaine de Lazo
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