Funding
Garage Raises $41 Million Series B to Expand AI Equipment Marketplace
By News Desk ·
Key takeaways
- Garage raised $41 million in Series B funding led by Invus Opportunities, with Infinity Ventures, Initialized Capital, Y Combinator, Benchstrength and FJ Labs participating.
- The round brings Garage's total capital raised to $60 million, and the company plans to hire and expand into public works and sanitation.
- Garage serves more than 1,000 communities across all 50 states and Canada and has crossed $100 million in annual platform sales.
Garage raised $41 million in Series B funding led by Invus Opportunities, with Infinity Ventures, Initialized Capital, Y Combinator, Benchstrength and FJ Labs participating. PR Newswire said the round brings the company's total capital raised to $60 million. The AI-powered marketplace for essential equipment has surpassed $100 million in annual platform sales.
Garage's Series B and Expansion Plans
Garage plans to use the proceeds to accelerate hiring and expand into new heavy-duty verticals, including public works and sanitation. The company serves more than 1,000 communities in all 50 states and Canada, and it has saved municipalities an estimated $100 million or more through higher surplus asset recovery values and procurement of pre-owned assets.
Bryan Kim, a partner at Invus Opportunities, said in the release: "Garage is digitizing a massive, trillion-dollar secondary market that has been entirely overlooked by modern technology." Kim added that reaching $100 million in annual sales with zero logistics employees reflects the platform's AI-driven model.
Martin Hunt, co-founder and CEO, said: "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." Hunt founded Garage with CTO Alaz Sengul after working as a firefighter and EMT and at Goldman Sachs. The platform recently crossed $100 million in annual platform sales with over 400% year-over-year growth.
Fortune reported that the Series B values Garage at $225 million. The release describes a new fire truck costing as much as $2 million, while a high-quality used truck on Garage costs approximately $150,000, a reduction of more than 90%.
Garage's Earlier Funding Rounds
According to akta.pro company records, Garage closed a $13.5 million Series A in August 2025 led by Infinity Ventures with participation from Y Combinator, Initialized Capital, Benchstrength, Wayfinder Ventures and FJ Labs. The same records list a $4.5 million seed round in May 2025 led by Initialized Capital and a $500,000 pre-seed round in April 2024 led by Y Combinator.
| Round | Date | Amount | Lead investor |
|---|---|---|---|
| Pre-seed | April 2024 | $500,000 | Y Combinator |
| Seed | May 2025 | $4.5 million | Initialized Capital |
| Series A | August 2025 | $13.5 million | Infinity Ventures |
| Series B | November 2026 | $41 million | Invus Opportunities |
The same records show a Form D filed in March 2026 for a $17.8 million exempt securities offering under Rule 506(b) with 23 investors.
Garage's Next Steps After the Series B
The release states that municipalities and essential services businesses can buy or sell equipment on the platform at shopgarage.com. Garage said the new capital will accelerate hiring and its expansion into public works and sanitation.