Business 16 www.aftermarketonline.net OCTOBER 2024 Innovation in Motion How new investment and the development of AI is helping PartsForMachines — an online aftermarket site serving the construction, agriculture and industrial sectors — expand its business beyond the UK Partsformachines.com has secured next-stage funding that paves the way for expanding in its launch market, in the UK, and pushing into wider European markets. The online aftermarket platform, which services agriculture, construction and general industry, has shown consistent growth since its launch in 2021. Two recent major developments include the expansion of the business into Ireland and the launch of sister business — MachineRefurb.com — a consolidated sales platform for manufacturer-refurbished equipment. PartsForMachines is the brainchild of Abhishek Tanwar, who co-founded the company and is now MD. He said the platform has shown consistent growth since launch and is now set for major expansion thanks to the latest tranche of undisclosed funding. “Our new funding allows us to take advantage of the opportunities afforded to us by emerging AI technology, as well as broadening our marketing reach and expanding our team to fill the roles necessary to encompass further growth.” As a trailblazer, in terms of aftersales platforms for the industries it serves, PartsForMachines has been quick to realise the potential that AI has to offer. The sales philosophy is based on four pillars: easy to find; easy to buy; great service and hassle-free returns. Tanwar said the platform boasts a “near perfect” TrustPilot rating, which endorses the company’s commitment to ensuring an excellent customer experience. AI will help speed up the overall buying process and support future purchasing patterns and requirements. The supplier partner programme is also increasing, attracting leading brands onto the site. “Bringing in major industry names was by no means easy in the beginning, Tanwar said. “We are very grateful to those who made the initial leap of faith and joined us. Other brands soon came to realise that we were offering a new route to market, and over the last few years, both the number of brands and the quantity of parts that each supplier partner brings to the platform has increased exponentially.” Tanwar said the platform is now approaching the 50 brand mark, with hundreds of thousands of parts listed. MachineRefurb.com, which offers customers factory-refurbished machinery, tools and workshop items, came about following conversations with manufacturers who were seeking a bespoke platform for such goods. “It has the additional benefit of us helping increase sustainability by effectively being part of a recycling process, while at the same time offering customers the opportunity to buy high quality kit and machinery they might otherwise not be able to afford,” Tanwar said. Looking to the future, following the Ireland launch, Tanwar said more sites will be launched in the not-to-distant future serving others countries in their respective languages. “We are constantly looking to the future. Though we are making real, consistent progress in terms of sales growth, we have several areas of the business that need further resource to deliver our planned expansion, both in the UK and in overseas markets.” Visit www.partsformachines.com to find out more.
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