WiTricity has just completed a significant new funding round which will allow it to move forward with its wireless charging plans.
, the Massachusetts company that is a world leader in wireless charging technology, announced this week that it has just raised $63 million in its latest funding round led by Siemens, which contributed $25 million. Other investors included the Japan Energy Fund, Mirae Asset Capital, and returning investors Stage One, Airwaves Wireless Electricity, and Delta Electronics, among others.
Created as an MIT spinoff in 2007, the company’s mission is to commercialize the use of magnetic resonance to transmit power over distance at any power level. It now holds more than 1250 patents, including those acquired when the company purchased the assets of Qualcomm Halo in 2019. WiTricity is now expandingto delivering full wireless charging solutions for its customers including global OEMs fleets, chargepoint operators, and end users.
“EV ownership in the US is still among ‘early adopters,’” said David Baum of Stage 1 Ventures. “Wireless charging will accelerate that adoption by mainstream consumers by eliminating the hassle of charging.”Jonathan Hwang of Mirae Asset Capital, says, “WiTricity’s wireless charging is a key component to truly reinventing the driving experience with electric cars.
WiTricity technology spans from milliwatts to kilowatts and can be found today in products from consumer electronics to industrial robotics. Most recently, WiTricity has licensed its technology to Wiferion, a leading solution provider for mobile, wireless power supplies for industrial e-vehicles. The applications of WiTricity technology beyond EVs are limitless with licensees already producing products such as wirelessly charged factory robots, e-scooters and e-bikes.
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