Home » Trackunit acquires German contech startup Flexcavo

Trackunit acquires German contech startup Flexcavo

by Sion Geschwindt

Danish IoT services provider Trackunit has acquired German contech startup Flexcavo in order to extend its reach in the contractor market.

Berlin-based Flexcavo specialises in data-enabled workflow and process management through the construction sector.

Founded in 2020 by Benedict Aicher and Leonhard Fricke, the startup pursues two main business models. On one side, it rents construction equipment from well-known manufacturers to construction companies of all sizes. On the other, it develops software solutions for digital fleet management. 

Soeren Brogaard, CEO of Trackunit (pictured), said: “We’re delighted to welcome Flexcavo into the Trackunit group and this significantly strengthens our offering to contractors and those with mixed fleets.

“We’re looking forward to leveraging Flexcavo’s expertise and make sure we’re serving our customers in the best way possible moving forward.

“Our team has doubled in the last 18 months and with the acquisition of Flexcavo, we’re on track to continue growing.”

Trackunit currently has just under 400 employees. 

Benedict Aicher, Flexcavo co-founder, said: “We are excited and proud to join forces with Trackunit.

“This enables us to double down on our ambition to be the leading partner for every contractor who strives for excellence and wants to make the most of every single job.

“Being part of the Trackunit ecosystem allows for a deeper integration into the contractor value chain and beyond.

“I know the Trackunit team shares our commitment to build the most useful industry for the world, and I can’t wait to get started.”

Fellow co-founder, Leonhard Fricke, added: “It will boost our developing capabilities significantly so that contractors and rental companies can benefit from even faster feature releases, real-time data across all machinery, and even more automation of processes between site, yard, and headquarters.

“Making our offering available in other key markets and supporting customers in their digitisation efforts will be our key mission going forward.”

Brogaard added that the acquisition should also enable Trackunit to manage the rental/contractor relationship even better in the future.

“It’s adding new capabilities and will allow rentals and contractors to smooth out any hiccups relating to machine usage, efficiencies and productivity,” he said. “It fits with the industry-wide purpose to eliminate downtime and any move that brings us closer to that goal can only make construction better.”

In February 2022, Flexcavo raised €7m (£5.8m) in asset-backed funding.

Image: Soeren Brogaard, CEO of Trackunit (supplied)

Read next: Hilti and Trackunit team up to digitise construction equipment

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