Witricity Closes New Funding Round With $63 Million Investment

Aug 09, 2022•over 3 years ago

Amount Raised

$63 Million

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Description

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.

Company Information

Company

Wi Tricity

Location

Watertown, South Dakota, United States

About

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.

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Witricity Closes New Funding Round With $63 Million Investment

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