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MTandT Rentals, a Chennai-based provider of aerial work platforms and ground protection access solutions, has raised INR 100 crore in funding from ValueQuest S.C.A.L.E. Fund II. The investment marks the company’s first round of private equity or institutional funding.
Previously, the company had secured INR 62 crore from early-stage investors and family offices. According to a press release, the latest funds will be used to support its next phase of growth and expand operations across India.
Founded and led by Rakesh Modi, MTandT Rentals supplies equipment for infrastructure, industrial and construction sectors. Its portfolio includes aerial work platforms such as boom lifts, scissor lifts, and spider lifts. The company also offers ground protection systems like PortaDeck composite mats, along with services including equipment maintenance, operator training and technical support.
The firm aims to deploy the new capital to handle larger and more complex projects, improve asset utilisation and enhance operational efficiency. It is also looking to reduce turnaround times for project delivery.
MTandT Rentals expects to benefit from increasing demand in sectors such as airports, renewable energy, metro rail, semiconductors, data centers, warehousing and large industrial facilities.
The company reported a compound annual growth rate of over 48 percent between FY21 and FY25.
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