Deal Flow

Foldcast develops recycled paper mould technology used to shape concrete building elements. The solution is designed to integrate directly into a contractor’s own fabrication process.

Genba Hub provides an AI platform that consolidates job site data for construction projects. The software manages estimates, schedules, photos, and invoicing to streamline field operations.

Gravis Robotics develops autonomous systems for excavators and heavy equipment. The company focuses on retrofitting existing machinery to enable remote and autonomous operation for construction and mining applications.

Conmeet is a construction technology startup that provides an AI-centric operating system for trades and construction businesses. The funding will be used to accelerate the platform's rollout across the DACH region.

Arrakis is building an AI operating system designed to deploy autonomous agents into mission-critical industrial workflows, including construction and logistics. The platform integrates directly with existing enterprise systems to automate non-desk operational processes and improve reindustrialization efficiency.

Monumental deploys fleets of autonomous bricklaying robots to automate masonry on construction sites. The company follows a service-based model where it bids on and completes structural wall projects, charging for finished work rather than selling its robotic hardware to contractors.

Agave secured funding to expand its technology platform, which focuses on equipment and software solutions for the agricultural sector. The company is part of a trend of startups selling into existing customer infrastructure.

Hive raised capital to advance its autonomy hardware for the construction industry. The company focuses on retrofitting or enhancing equipment already owned by contractors.

Sabanto develops autonomous retrofit kits that convert existing smaller-horsepower tractors into fully autonomous machines for field operations like planting and tilling. The funding supports the expansion of its dealer network and the deployment of its autonomy-as-a-retrofit solutions to help farmers reduce capital expenditures and labor dependency.

Founded by former SpaceX engineers, TerraFirma retrofits heavy construction equipment for semi-autonomous operation from remote command centers. The vertically integrated company serves as a contractor on earthworks projects, utilizing human-in-the-loop AI to improve efficiency on infrastructure and commercial sites.

Aardaia develops a non-GMO crop breeding platform that uses whole-genome sequencing and computational biology to domesticate wild plant species. Its flagship product is the aardaker, a resilient, nitrogen-fixing protein tuber designed to reduce agricultural reliance on synthetic fertilizers and improve domestic protein production.

Stenon provides real-time digital soil analysis through its FarmLab platform, which combines optical and electrical sensors with AI. The technology allows farmers to measure plant-available nitrogen and soil organic carbon directly in the field, optimizing fertilizer application without laboratory delays.

ClearOps is the globally leading AI-Powered Aftersales Intelligence platform for the mobile machinery industries, enabling OEMs and dealers to maximize machine uptime for their end customers and unlocking their full aftersales potential.

RB Global completed its acquisition of BigIron, an online agricultural equipment marketplace with deep roots in farmer-to-farmer auction and remarketing across the Great Plains and Midwest, buying agricultural marketplace depth and used equipment pricing intelligence.

Upgrades existing heavy construction machines to self-driving capability in under an hour with no permanent modifications required.

Core Equipment Group, a PE-backed construction equipment dealer platform, acquired GT Mid Atlantic, adding construction equipment dealership locations across the Mid-Atlantic region in a continued PE-backed construction dealer roll-up strategy.

Caterpillar acquired the assets of Monarch Tractor, a struggling California-based autonomous and electric tractor startup, after Monarch failed to commercialize its technology at scale. The deal gives Cat an instant autonomous ag equipment capability and electric drivetrain IP.

Building Pulsar, a next-generation GNSS constellation providing centimeter-level positioning for precision agriculture, autonomous construction equipment, and defense applications.

AI-native operating system for equipment rental and dealership businesses, replacing legacy ERP/DMS systems with a modern, workflow-driven platform built specifically for the heavy equipment industry.

AI-powered helpdesk for agricultural equipment dealers. White-label app that ingests work orders and technical manuals to accelerate service resolution and first-call technician accuracy.

Raised $270M Series B to accelerate autonomous construction equipment development, targeting fully operator-less excavator deployments in 2026.

Went public on Nasdaq raising $747.3M at approximately $27 per share. $3.76B in 2024 revenue with 47% year-over-year growth. Operates 373 branches across 45 states with a technology-bundled rental model.

Turner Construction launched First Equipment Company (FEC), an internal equipment rental and site services firm, internalizing fleet management as a project-control function. FEC can extend to Turner's 40,000+ trade partners, creating a new competitive layer in equipment rental.

John Deere acquired Tenna, a construction technology company providing mixed-fleet equipment operations and asset tracking software for contractors managing diverse OEM fleets.

Develon and HD Hyundai merged to create HD Construction Equipment, Korea's largest construction equipment company. The combined entity outlined global growth plans and a next-generation excavator rollout, with HD Hyundai Chairman Kisun Chung unveiling the new brand.

AI-powered rental marketplace and purpose-built software suite for SMB industrial equipment rental companies. Provides digital storefront, workflow automations, telematics dashboards, and AI tools for quoting, scheduling, and payments.

Equipment rental marketplace where contractors manage procurement, bookings and payments in real time for site equipment. Backed by Brick & Mortar Ventures in its Series A round.

Private equity firm Wildcat Equity made a strategic investment in Groff Tractor & Equipment, a nearly 70-year-old John Deere Construction and Forestry dealer operating across Pennsylvania. The investment provides Groff with capital to expand its regional footprint, modernize operations, and deepen service capabilities for contractors and infrastructure clients. The deal is emblematic of PE's growing role in consolidating the independent dealer landscape.

Online real estate marketplace CoStar Group acquired agricultural land data platform Ag-Analytics, maker of AcreValue — a platform serving 1.5 million registered users with farm land insights and valuation tools. CoStar plans to merge AcreValue with its Land.com platform, targeting the $3.4 trillion U.S. farm real estate asset class. The deal signals how data and proptech capital is flowing into agricultural land intelligence.

Herc Holdings acquired H&E Equipment Services in a $5.3 billion deal, creating one of the largest construction equipment rental companies in North America. The merger significantly expands Herc's fleet size, geographic footprint, and customer base across the U.S. contractor and industrial markets. The deal reflects the broader consolidation wave sweeping the rental sector as high equipment costs push contractors toward flexible rental models.

Herc Holdings acquired H&E Equipment Services in a $5.3 billion deal creating one of the largest equipment rental companies in North America. The combined 58,000+ unit fleet positions Herc as a genuine number-two competitor to United Rentals with $120M in targeted synergies.

United Rentals originally agreed to acquire H&E Equipment Services for $4.8B in January 2025, before Herc Holdings launched a surprise competing bid. Even though United lost H&E to Herc, the original deal revealed the largest rental player's appetite for specialty fleet expansion and density.