What is WiTricity?
WiTricity is at the forefront of enabling a future where electric and autonomous mobility is seamlessly powered. Their proprietary magnetic resonance technology is designed to facilitate effortless charging for electric vehicles, autonomous robots, and other electric-powered devices. This technology is being integrated into the electric vehicle roadmaps of major global automakers and Tier 1 suppliers, forming the backbone of crucial industry standards aimed at widespread adoption. WiTricity's innovations are key to realizing advancements such as dynamic charging for moving vehicles and automated charging for autonomous systems, promising a more convenient and efficient charging experience.
How much funding has WiTricity raised?
WiTricity has raised a total of $150M across 6 funding rounds:
Series B
$4M
Series E
$25M
Other Financing Round
$5M
Debt
$1M
Other Financing Round
$52M
Unspecified
$63M
Series B (2008): $4M with participation from Argonaut Partners and Stata Venture Partners
Series E (2013): $25M led by Foxconn and Intel Capital
Other Financing Round (2015): $5M supported by Haiyin Capital
Debt (2020): $1M featuring PPP
Other Financing Round (2021): $52M backed by Future Shape Group, Mitsubishi Corporation, Air Waves Wireless Electricity, and Stage 1 Ventures LLC
Unspecified (2022): $63M with participation from Mirae Asset Capital and Japan Energy Fund
Key Investors in WiTricity
Haiyin Capital
Haiyin Capital is a venture capital firm based in Beijing, China, likely focusing on investments within the technology and innovation sectors, potentially including mobility and energy solutions.
Argonaut Partners
Argonaut Partners is a management consulting firm, suggesting a strategic interest in companies poised for growth and operational enhancement within the technology landscape.
Stata Venture Partners
Stata Venture Partners, associated with Soft-ex, likely invests in technology companies, particularly those with innovative software solutions or in emerging tech fields like AI and connectivity.
What's next for WiTricity?
The recent major strategic investment in WiTricity, alongside its substantial total funding of $150M, positions the company for accelerated growth and market expansion. This capital infusion is expected to fuel further research and development into advanced charging capabilities, including enhanced dynamic charging solutions and broader integration across the automotive and robotics sectors. WiTricity's focus on establishing global standards and partnering with key industry players suggests a strategic push towards solidifying its position as the de facto leader in wireless power transfer for a sustainable, electrified future. The company's trajectory indicates a strong emphasis on scaling its technology to meet the increasing global demand for convenient and efficient EV charging.
See full WiTricity company page
