BELGRAVIA & CO., an international and independent M&A and Corporate Finance advisory firm with offices in Cologne and New York City, exclusively advised stock-listed VOLTABOX AG (“VOLTABOX“, www.voltabox.ag/en/), on securing a stake in fleet management start-up ForkOn („ForkOn“, www.forkon.de), an innovative supplier of fleet management systems for forklifts, in a pre-Series A financing round.
ForkOn offers a cloud-based and manufacturer independent fleet management system. ForkOn’s software makes forklift truck fleets more efficient, enabling customers to save up to 25% of their current costs. In addition, the ForkOn software digitizes and automates daily work processes.
VOLTABOX and ForkOn have been cooperating since spring 2019. Since the end of October 2019, joint solutions from VOLTABOX and ForkOn have been in pilot use for the first time in fleet vehicles. ForkOn aims to further develop and expand its product range for the logistics market. The expansion of the current product portfolio is intended to further advance the internationalization of the start-up. This will also enable VOLTABOX to achieve a greater range for the sale of its lithium-ion battery systems.
The parties have agreed not to disclose the purchase price. BELGRAVIA & CO. acted as exclusive M&A advisor to VOLTABOX on this transaction.