MYCRANE secures Series A funding to power growth

01 May 2023 CW Team

MYCRANE, the global online platform for the efficient online rental of lifting equipment, has secured a multi-million dollar sum to fund the next phase of its ambitious growth plans.

According to MYCRANE founder and CEO Andrei Geikalo, the substantial financial injection will fund expansion in critical global markets including the USA and Saudi Arabia, where the company will establish its own operations.

The Dubai-based digital disruptor raised the finance from private investors as part of a Series A funding round. The capital will also be deployed to accelerate sales and marketing activities around the world, as well as boosting operations in APAC and South Asia, where MYCRANE is already active.

Established in 2021, MYCRANE is designed for contractors and clients in a variety of industries who can quickly and easily rent the lifting equipment they need. The free, easy-to-use online service negates the need to invest time and energy making offline contact with numerous potential suppliers.

In just 18 months, MYCRANE has already launched its service in key global markets, with technical development, sales and marketing all performed in-house.

Mr Geikalo commented: “The trust placed in us by our investors will power the next phase of MYCRANE’s growth in the coming 18 months and is an endorsement of our vision to improve the crane rental procurement process, which was outdated and flawed prior to our launch.

“This Series A funding marks a milestone in the MYCRANE story. It will help bring our service to more global markets and allow us to keep innovating for the cranes and construction sector.”

MYCRANE currently has more than 3,000 registered customers, and more than 15,000 cranes available to hire at the platform.

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