YardLink, a technology firm, has secured funding from Innovate UK to build a scalable platform that enables construction companies to speed up procurement and reduce the costs of equipment rental.
The platform provides buyers and site managers with immediate access to thousands of trusted equipment depots across the UK, and automates key stages of the procurement process. Customers who rely on quick response times can now source the right equipment at the right price, within a matter of minutes.
“Construction is still one of the least digitised sectors in the economy. Our technology simplifies a complex and often opaque process that can take customers hours or even days to complete,” said YardLink CTO Daniel Morris.
Innovate UK, as part of UK Research and Innovation, is investing up to £191 million to fund single and collaborative research and development projects as part of the Sustainable Innovation Fund over the next two years. The aim of these competitions is to help all sectors of the UK rebuild after the effects of COVID-19.
The Sustainable Innovation Fund is funding 1,103 projects, 1189 UK businesses and totalling over £130 million in support across the UK.
YardLink Founder and CEO Neeral Shah said:
“We’re thrilled to be a recipient of the Innovate UK grant at a time when digital transformation in the construction industry is more attainable than ever before. This award provides further confidence in our mission to digitise the construction supply chain to simplify procurement and help complete projects on time and on budget.”
Innovate UK Executive Chair Dr Ian Campbell said:
“In these difficult times we have seen the best of British business innovation. The pandemic is not just a health emergency but one that impacts society and the economy.
YardLink, along with every initiative Innovate UK has supported through this fund, is an important step forward in driving sustainable economic development. Each one is also helping to realise the ambitions of hard-working people.”
YardLink makes equipment rental fast, simple and cost-effective. Through a single platform, construction companies get access to a network of highly-vetted rental companies across the UK, enabling them to find, check availability and rent equipment within minutes.
About Innovate UK
Innovate UK drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas.
Innovate UK connects businesses to the partners, customers and investors that can help them turn ideas into commercially successful products and services and business growth.
Support is available to businesses across all economic sectors, value chains and UK regions.
Innovate UK is part of UK Research and Innovation. For more information visit www.innovateuk.ukri.org