maxwell+spark has successfully secured $15 million in a Series B financing round, expanding its investor base and international market reach to accelerate the electrification of industrial logistics.

Target Information

The investment represents the second closing of maxwell+spark’s Series B round, broadening the company's international investor base and enhancing its efforts towards decarbonizing industrial logistics. The recent financing includes the participation of Chevron Technology Ventures from the United States and Idemitsu from Japan, alongside existing investors Klima and Fairtree.

Founded in 2017 in South Africa and currently headquartered in the Netherlands, maxwell+spark has established itself as a global leader in providing sustainable power solutions for industrial logistics. The company has developed modular, data-driven battery systems designed to replace traditional diesel engines and lead-acid batteries utilized in forklifts, refrigerated transport, and backup power units.

Industry Overview

The industrial logistics sector is critical to the global economy, encompassing a range of activities that facilitate the movement and storage of goods. As industries strive to meet stringent environmental regulations and