What is WiTricity?
WiTricity stands as the global industry leader in wireless charging, providing the foundational magnetic resonance technology that powers the future of electric and autonomous mobility. By eliminating the need for physical plug-in connections, the company is addressing one of the primary friction points in the transition to electric transportation. Its technology is currently being integrated into the product roadmaps of global automakers and Tier 1 suppliers, establishing the standard for efficient, automated energy transfer. Beyond consumer vehicles, WiTricity is instrumental in the development of autonomous robotics and dynamic charging solutions, where human intervention is increasingly minimized. The company's market position is defined by its intellectual property portfolio and its role in shaping international standards for wireless power, making it a central player in the decarbonization of the transportation sector.
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 Stata Venture Partners and Argonaut Partners
Series E (2013): $25M led by Intel Capital and Foxconn
Other Financing Round (2015): $5M supported by Haiyin Capital
Debt (2020): $1M featuring PPP
Other Financing Round (2021): $52M backed by Future Shape Group, Stage 1 Ventures LLC, Mitsubishi Corporation, and Air Waves Wireless Electricity
Unspecified (2022): $63M with participation from Mirae Asset Capital and Japan Energy Fund
Key Investors in WiTricity
Japan Energy Fund
Backed by prominent Japanese companies, the Japanese Energy Fund aims to build a sustainable society through investment in innovative international companies with technologies related to decarbonisation.
Intel Capital
A division of Intel, this firm invests in innovative startups targeting artificial intelligence, autonomous vehicles, and next-generation compute technologies.
Mitsubishi Corporation
A global integrated business enterprise that develops and operates across virtually every industry, including industrial finance, energy, and infrastructure.
What's next for WiTricity?
Looking ahead, WiTricity is poised to leverage its recent capital to deepen its penetration into the automotive supply chain and expand its footprint in the autonomous vehicle market. The strategic focus will likely center on the commercialization of dynamic charging capabilities, which allow vehicles to receive power while in motion, and the refinement of high-power charging systems for heavy-duty electric fleets. As the industry shifts toward fully autonomous, self-charging ecosystems, WiTricity's role as a technology provider becomes increasingly vital. The company is expected to prioritize partnerships that facilitate the mass-market deployment of its magnetic resonance solutions, ensuring that wireless charging becomes a ubiquitous feature in the modern smart city infrastructure. With a robust history of financial support, the firm is well-equipped to navigate the complexities of global automotive manufacturing and maintain its competitive edge in the rapidly evolving energy transition landscape.
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