Total amount raised
$124.1 Million
Latest funding date
6/1/2023
Location
Moxion Power has raised a total of $100 million in a Series B funding round, with the latest investment aimed at replacing diesel generators with zero-emission electric batteries. The company has gone through five funding rounds, attracting 11 investors, including Enterprise Holding Ventures and Microsoft Climate Innovation Fund.
What Is Moxion Power?
Moxion Power, based in Richmond, California, specialized in developing zero-emission generators and off-road equipment to support various industries. The company operated in the Clean Energy, CleanTech, Energy Storage, and Renewable Energy sectors.
With an employee count ranging from 101 to 250, Moxion Power aimed to replace traditional diesel generators with eco-friendly electric batteries. Their flagship product, the MP-75, was designed to provide clean, mobile, and dependable energy solutions for industries such as film, construction, events, utilities, and EV fleets.
How Much Funding Has Moxion Power Raised?
- Pre-Seed Round
- Amount Raised: USD 800,000
- Date: January 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of zero-emission generators and off-road equipment.
- Pre-Seed Round
- Amount Raised: USD 2,300,000
- Date: January 2021
- Lead Investors: Tamarack Global, Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and refine their technology and expand their team.
- Series A
- Amount Raised: USD 10,000,000
- Date: May 2021
- Lead Investors: Energy Impact Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale manufacturing operations and launch the first rental location in the San Francisco Bay Area.
- Series B
- Amount Raised: USD 100,000,000
- Date: September 2022
- Lead Investors: Tamarack Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To replace diesel generators with zero-emission electric batteries and expand market reach.
- Series Unknown
- Amount Raised: USD 10,999,982
- Date: June 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue the development and deployment of zero-emission energy solutions.
Total Amount Raised: USD 124,099,982. Current Valuation: Not publicly disclosed.
Key Investors
- Energy Impact Partners (EIP)
- Details: Energy Impact Partners is a venture capital firm that invests in companies advancing the transition to a sustainable energy future. They led the $10 million Series A financing round for Moxion Power.
- Investment Focus Areas: Clean energy, energy efficiency, smart grid technologies.
- Notable Investments: Investments in renewable energy, energy storage, and energy efficiency companies.
- Tamarack Global
- Details: Tamarack Global is an investment firm focusing on early-stage companies with innovative technologies and strong growth potential. They were a lead investor in Moxion Power's Seed round and participated in the Series A round.
- Investment Focus Areas: Clean technology, renewable energy, sustainable solutions.
- Notable Investments: Investments in startups and growth-stage companies in the clean technology and renewable energy sectors.
- Liquid 2 Ventures
- Details: Liquid 2 Ventures is an early-stage venture capital firm that invests in technology startups across various sectors. They participated in Moxion Power's Series A financing round.
- Investment Focus Areas: Technology startups, software, hardware, clean technology.
- Notable Investments: Various tech startups across different industries.
- Enterprise Holding Ventures
- Details: Enterprise Holding Ventures is an investment arm of Enterprise Holdings, focusing on innovative mobility solutions. They are listed as one of the most recent investors in Moxion Power.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- Microsoft Climate Innovation Fund
- Details: Microsoft Climate Innovation Fund invests in companies and projects that advance sustainability and climate solutions. They are listed as one of the most recent investors in Moxion Power.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
What's Next for Moxion Power?
Moxion Power announced on July 26, 2024, that it was shutting down, after furloughing most of its roughly 400 employees the week before. The company filed for Chapter 7 bankruptcy in the United States Bankruptcy Court for the District of Delaware on August 12, 2024. The filing listed $201,980 in the company's checking account.
Moxion Power told staff that late talks with investors had fallen through before the closure. The June 2023 round was the company's last.
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