Garage, an AI-powered marketplace for heavy equipment, has raised $41 million in Series B funding to help local governments and essential service providers buy and sell specialized vehicles and machinery.
Invus Opportunities led the round, with participation from Infinity Ventures, Initialized Capital, Y Combinator, Benchstrength, and FJ Labs.
The round brings Garage’s total funding to $60 million. The company plans to use the money to accelerate hiring and expand its offerings in public works and sanitation.
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A Trillion-Dollar Heavy Duty Market Still Running Manual
Despite representing a $1 trillion market, buying and selling heavy-duty equipment in the United States remains fragmented, opaque, and largely offline. Local governments and essential service providers still rely on labor-intensive, outdated methods to manage the procurement and disposition of their most critical assets. The broken system strips communities of critical capital and time that could otherwise be reinvested directly back into local communities nationwide.
To solve this problem, Garage has built the first AI-powered marketplace specifically for transacting heavy assets that keeps America’s communities moving. The platform simplifies every step of the transaction, connects local communities directly to a national market, and turns a complex, months-long process into a modern, transparent digital experience.
“An extra million dollars has a real impact on a community. Those funds can be reinvested in schools, roads, and local employees without increasing the burden on taxpayers,” said Martin Hunt, Co-Founder and CEO of Garage, in a press release.
“We started Garage to guarantee that every community, regardless of size, can maintain their essential services without bankrupting their town. First, it was fire trucks, then it was sanitation vehicles, but the underlying problem exists across any asset that is expensive, specialized, and hard-to-move.”
Martin Hunt and Alaz Sengul founded the AI-powered heavy equipment marketplace. Hunt served as a firefighter and EMT before attending Columbia University and later working at Goldman Sachs.
In late 2023, after a fellow firefighter called him about a better way to procure equipment, he left Wall Street to digitize a notoriously manual, paper-driven industry. He joined forces with Sengul (CTO), an experienced software developer, and launched Garage, which rapidly became the largest source of used fire trucks in the country.
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Garage’s Impact Since Launch
The platform recently crossed $100 million in annual platform sales, experiencing over 400% year-over-year growth. The New York-based startup currently serves over 1,000 communities in all 50 states, as well as Canada.
By facilitating a more efficient secondary market, Garage has saved municipalities by helping them capture higher surplus asset recovery values and procuring pre-owned assets to enhance fleets with limited budgets. Today, a new fire truck can cost as much as $2 million, while on Garage, communities can acquire a high-quality used truck for approximately $150,000, a more than 90% cost reduction.
“Garage has been a game changer for us. We recently sold an almost 40-year-old fire truck for nearly $40,000, an apparatus that traditionally may have brought little more than scrap value,” said Chief Rob Reardon, Duxbury Fire Department (MA), in a press release. “Garage made the process simple and helped us recover real value that we would not have seen otherwise. Those funds were put towards the cost of future apparatus, ultimately saving our community money.”
Garage offers an AI appraisal engine that works as an unbiased pricing guide for specialized municipal assets. The engine creates data-driven valuations to ensure fair pricing for buyers and sellers. They also offer automated logistics services that provide instant freight quoting and full transport coordination.
Equipment warranties also lower buyer risk by covering previously owned assets. They provide integrated financing custom-built to handle local government budgets. It also handles compliance standards and municipal purchasing requirements.
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How Garage Will Deploy the New Capital
This Series B values Garage at $225 million, a figure the company gave to Fortune. Infinity Ventures, Initialized Capital, Y Combinator, Benchstrength, and FJ Labs also participated.
“Garage is digitizing a massive, trillion-dollar secondary market that has been entirely overlooked by modern technology,” said Bryan Kim, Partner at Invus Opportunities. “Reaching $100 million in annual sales with zero logistics employees is a testament to the power of their AI-driven platform. Martin and his team have not only built a highly efficient marketplace, but they’ve fundamentally rewired how local governments and private operators procure essential heavy equipment across all 50 states.”
Garage has raised $60 million in total funding. The company recently closed a $41 million Series B round in November 2026. That round brought the total valuation to $225 million. Before that, Garage secured a $13.5 million Series A round in August 2025. The startup also completed a seed round of about $4.5 million in April 2024, after participating in Y Combinator’s Winter 2024 batch.
The new $41 million injection will help Garage accelerate hiring and push deeper into new heavy-duty verticals, including public works and sanitation. As local governments increasingly face tight budgets and supply chain delays, a digital secondary market may quickly shift from a novel convenience to an operational necessity.
