Maxwell Labs

Saint Paul, MN · Founded 2020 · Privately Held (backing)

Developer of a photonic cold plate designed to transform chip heat into light and back into usable electricity, revolutionizing heat management and energy use in high-performance computing systems. Maxwell Labs is based in Saint Paul, MN and was founded in 2020. It was valued at $85.9 million at its later-stage round in Feb 2026, the last priced event on record. It has raised $12.3 million across 3 recorded rounds; the latest was a $7.9 million early-stage round in Feb 2026.

PMV mark · valuation
$85.9M
Oct 2026
Priced at
its later-stage round
Feb 2026
Total raised
$12.3M
Last round
Early Stage VC
Feb 2026
How much has Maxwell Labs raised?
$12.3Macross 3 recorded rounds · Apr 2022 – Feb 2026

Most recently, Maxwell Labs raised $7.9M in its Early Stage VC (Feb 2026).

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Maxwell Labs round by round

3 rounds
Feb 2026Early Stage VC$7.9MSEC filing▮
31 investors participated
May 2023Seed Round$250KSEC filing▮
1 investors participated
Apr 2022Seed Round$1.1MSEC filing▮
4 investors participated

How much has Maxwell Labs raised?

Maxwell Labs has raised $12.3 million across 3 recorded rounds since 2022. The largest was a $7.9 million early-stage round in Feb 2026.

Maxwell Labs has filed 4 Form Ds with the SEC since 2022, most recently in Feb 2026 ($7.9 million sold to 31 investors).

Maxwell Labs investors

9 investors are on record for Maxwell Labs, including gBETA, Groove Capital, mHUB and Arosa Capital Management. The early-stage round in Feb 2026 drew 31 investors.

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9 investors have backed Maxwell Labs.

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Frequently asked about Maxwell Labs

How much has Maxwell Labs raised?
Maxwell Labs has raised $12.3M in total across 3 recorded funding rounds.
When was Maxwell Labs's last funding round?
Maxwell Labs's most recent recorded round was Early Stage VC in Feb 2026, raising $7.9M.