# Machinio

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/machinio

- Industry: Internet
- Headquarters: Chicago, US
- Website: www.machinio.com
- Total disclosed funding: $1M
- Latest round: Seed (May 5, 2014)
- Investors on record: 3

## About

Machinio is a digital platform that specializes in the online auction and sale of used construction equipment, agricultural machinery, and various industrial assets, connecting dealers with end-users for efficient transactions.Machinio Corp. provides an online marketplace for buying and selling used machinery. Founded in Chicago, US, the company raised USD 1 million in Seed funding on May 5, 2014, with investors including Elevation Partners, Entrepreneurs Roundtable Accelerator, and Maxfield Capital. The company has completed 2 deals to date.Machinio Corp. specializes in the online auction and sale of used construction equipment, agricultural machinery, and various industrial assets. The platform operates as a surplus aggregator, facilitating transactions between machinery dealers and end-users, including construction firms and agricultural operations. Key offerings range from heavy machinery such as HAAS and MAZAK equipment to specialized tools and support systems. The service model allows clients to access a diverse inventory efficiently across North America, Europe, and select markets in Asia and Australia. Additionally, Machinio offers a subscription-based model for sellers to enhance their visibility in the marketplace.Machinio generates revenue through a commission-based structure, where sellers pay a fee upon successful transactions facilitated by the platform. This model supports both B2B and direct-to-consumer sales, catering to clients ranging from small contractors to large enterprises. The auction events feature products such as the HAAS EC-1600ZT, showcasing high precision in machining operations. The pricing structure accommodates diverse buyer profiles, ensuring competitive bidding scenarios. The revenue model capitalizes on transaction fees and integrates partnerships with equipment sellers, enhancing the overall liquidity of the marketplace.In May 2014, Machinio raised USD 1 million in Seed funding to support its growth initiatives. The company plans to expand its offerings with new products designed for enhanced auction experiences, although specific release dates have not been disclosed. Additionally, Machinio aims to extend its reach into emerging markets in Asia and Australia by the end of 2025, leveraging recent funding to enhance its technology and marketing strategies.

## Funding rounds

- Seed, May 5, 2014, $1M — Elevation Partners, Entrepreneurs Roundtable Accelerator, Maxfield Capital
- Seed, Jun 3, 2013, $0M — Entrepreneurs Roundtable Accelerator

## Investors

- Entrepreneurs Roundtable Accelerator (https://capitalatlas.ai/funds/entrepreneurs-roundtable-accelerator) — Seed
- Elevation Partners (https://capitalatlas.ai/funds/elevation-partners) — Seed
- Maxfield Capital (https://capitalatlas.ai/funds/maxfield-capital) — Seed