WiTricity Secures $25M in Series E Financing
WiTricity, a Watertown, MA-based provider of solutions for wireless power transfer over distance, secured $25m in Series E financing.
Backers included Intel Capital and Hon Hai/Foxconn.
The company intends to use the funds to develop designs and products for wireless charging in the consumer electronics, electric vehicles, defense and medical device industries, as well as to pursue other strategic growth opportunities in the wireless power field.
Founded in 2007 and led by CEO Eric Giler, WiTricity provides technology for wireless electricity with global clients in industries including consumer electronics, automotive, medical devices and defense.
The company’s technology can be used to provide Direct Wireless Power and Automatic Wireless Charging and is designed to be directly embedded in the products and systems of Original Equipment Manufacturers (OEMs). Partnerships with manufacturers include Audi, Mitsubishi, Delphi, Haier, IHI, MediaTek and Thoratec.