US-based startup 2Quip on Tuesday launched an artificial intelligence-powered marketplace aimed at modernizing the equipment rental industry.
The platform, dubbed “Platform 3.0”, introduces features including AI-assisted equipment listing and search capabilities, a rental protection plan, and business activation subscription services.
2Quip, which describes itself as a peer-to-peer equipment-sharing marketplace, seeks to connect equipment owners with renters in a market it values at $127.9 billion.
“Equipment ownership is only getting more expensive and the antiquated rental experience isn’t keeping pace with what today’s generations are demanding,” 2Quip CEO and co-founder Mark Costa said in a statement.
The company’s new offering includes three subscription tiers: a free “Starter” option with transaction fees, a “Growth” tier at $49 monthly, and a “Business” tier at $249 monthly with reduced fees and increased support.
2Quip claims its platform will help equipment owners generate income from underutilized assets while providing renters with more convenient and cost-effective options compared to traditional rental services.
The startup did not disclose its current user base or financial projections.