ADDAX Overland, known for creating rugged, reliable, and innovative overlanding products, has announced a strategic $2.5 million investment from Philo Venture’s Studio. The investment aims to support ADDAX in furthering innovation, manufacturing, and R&D to meet the increasing demand for the company’s premier overlanding equipment. Additionally, Marshall Smith has been appointed as the new CEO. Smith, a seasoned chief executive with a successful track record in e-commerce, brings with him valuable operational and manufacturing experience to drive growth and product expansion at ADDAX. Notably, the company will be launching its new Gladiator Overlanding Cap and Camper later this summer.
“As an overland enthusiast myself, I’m excited to be a part of ADDAX — a company that excels in designing rugged and capable products that complement overlanders’ different preferences and styles,” said Smith. “ADDAX’s commitment to exceeding customers’ expectations is a big part of its success. A top priority will be to scale up manufacturing to keep pace with the surging demand for our outstanding overlanding products.”
“We invested in ADDAX Overland because we see a thriving market with overland enthusiasts seeking high-quality, durable products,” said Chad Staheli, CEO and Managing Partner of Philo Ventures. “The overlanding industry aligns perfectly with our passion to support businesses that encourage individuals and families to enjoy the great outdoors.”
ADDAX has received a $2.5 million investment from Philo. The funding will be used to accelerate manufacturing and production of trailers and campers, and to further research and development to expand their range of overlanding equipment. In addition to the financial support, Philo will also offer valuable operational resources and expertise in strategy, sales, and operations.
