WiTricity Raises $34 Million in Venture Capital, Including Strategic Investment From Mitsubishi Corporation
WiTricity Raises $34 Million in Venture Capital, Including Strategic Investment From Mitsubishi Corporation
10/29/20, 5:05 PM
Location
watertownMoney raised
$34 million
Industry
energy
transportation
sustainability
mobile
hardware
WiTricity, the industry pioneer in efficient wireless power transfer over distance, today announced it has closed a $34 million investment round. Stage 1 Ventures led the round with participation from Air Waves Wireless Electricity and a strategic investment by Mitsubishi Corporation through its U.S. subsidiary, Mitsubishi Corporation (Americas). The infusion of capital will enable WiTricity to continue its leading-edge wireless power platform development, expand its intellectual property portfolio, and capitalize on the commercial momentum for wireless charging for electric vehicles (EVs) and in the broader mobility market.
Company Info
Location
watertown, south dakota, united states
Additional Info
WiTricity is the trailblazer in wireless charging for electric vehicles, leading the development and implementation of magnetic resonance technology across passenger and commercial vehicles alike. The company's 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, setting the stage for future autonomy.