WiTricity Nabs $63M
Summary
Building on the global growth in electric vehicles, support from governments around the world for electrification - now including the US - and the recognized need for better EV charging solutions to expand EV adoption, WiTricity has just completed a new funding round of $63 million. Anchored by a $25 million investment from industrial giant Siemens AG, the round includes investments from Japan Energy Fund, Mirae Asset Capital, and returning investors Stage One, Airwaves Wireless Electricity, and Delta Electronics among others. The companys technology is backed by an extensive patent portfolio and is the foundation for ratified global EV wireless charging standards including SAE, ISO and GB. Automakers and Tier 1 suppliers turn to WiTricity to help accelerate the adoption of EVs by eliminating the hassle of plug-in charging, enabling always-available wireless V2G, and setting the stage for future autonomy. Beyond EVs, WiTricity technology is essential to the wireless charging of all products, from consumer electronics to micro-mobility to robotics.
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