# WiTricity Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/witricity

- Industry: Power & Utilities
- Headquarters: Watertown, US
- Website: www.witricity.com
- Total disclosed funding: $55M
- Latest round: Series F (Apr 24, 2015)
- Investors on record: 5

## About

Founded in 2007, chaired by Alex Gruzen as CEO, and based in Massachusetts, the US, WiTricity Corporation, helps commercialize new technology for wireless electricity and charging. The company was founded based on the idea of MIT Professor Marin Soljacic, Peter H. Fisher, and Andre Kurs, to find methods to wirelessly connect mobile electric devices to the existing electric grid. The company has over 1000 patents granted worldwide. In 2021, WiTricity Corporation raised USD 18 million in venture funding, as a part of a larger USD 52 million venture funding led by new investor Future Shape, with participation from unspecified investors. The company's clients that have licensed the company's technology include Toyota, Mahle, TDK, IHI, Shindengen, Daihen, and Aptiv among others. As of 2021, the company staffs 42 employees.

The company's technology is the medium that ties the existing electric grid to a broad range of mobile and wireless devices as well as electric vehicle wireless charging. WiTricity's portfolio of products includes automotive solutions such as drive solutions for autonomous electric vehicles. With a lack of human drivers, the company's 3.6-11 kW EV charging development system enables cars to park and charge wirelessly. WiTricity’s product has applications for mobile robots, automatic guided vehicles, cordless tools and instruments, golf carts, industrial vehicles, electric passenger and commercial vehicles, ventricular assist devices, pacemakers, defibrillators, military systems, and smart cards, along with industrial applications. 

Additionally, the company offers engineering services and support such as application support and consulting services, technical training, custom development, modeling, and installation as well as support for licensees, partners, and customers as a part of its complete product and service portfolio. The company patented magnetic resonance technology enables the development of new and improved consumer electronics devices such as laptops, mobile, and televisions as well as commercial, medical, and industrial devices. WiTricity exclusively offers reference designs, technology transfer, and engineering support services for electric vehicle wireless charging solutions. 

WiTricity Corporation plans on utilizing the venture funding to capitalize on commercial momentum for electric vehicle adoption globally.

## Funding rounds

- Series F, Apr 24, 2015, $19M — Haiyin Capital
- Series E, Oct 8, 2013, $30M — Intel Capital, HCM Capital
- Series A, May 19, 2008, $4M — Stata Venture Partners, Argonaut Private Capital
- Series A, Dec 4, 2007, $2M — Stata Venture Partners

## Investors

- Stata Venture Partners (https://capitalatlas.ai/funds/stata-venture-partners) — Series A
- Argonaut Private Capital — Series A
- Intel Capital (https://capitalatlas.ai/funds/intel-capital) — Series E
- HCM Capital (https://capitalatlas.ai/funds/hcm-capital) — Series E
- Haiyin Capital (https://capitalatlas.ai/funds/haiyin-capital) — Series F