BetaBoston

WiTricity secures $25m in funding as it aims to be a leader in wireless power

Photo taken from WiTricity’s website.
Photo taken from WiTricity’s website.

WiTricity, a Watertown company that licenses technology with such potential applications as allowing electric cars and consumer-electronics devices to wirelessly recharge their batteries, said Wednesday that it has secured $25 million in Series E financing, bringing the total amount of funding it has raised so far to $45 million.

The Series E financing came from new and existing investors, including Intel Capital and Hon Hai/Foxconn, one of the world’s largest consumer electronics manufacturers, WiTricity said in a press release.

The company sees its technology as having applications for the consumer electronics, electric vehicles, defense, and medical device industries.

Advertisement—Continue Reading Below

“WiTricity’s vision is to usher in a world where wireless power is so ubiquitous, you never have to think about plugging in again,” company chief executive Eric Giler said in a statement. “In securing this funding from our investors, we are even more effectively positioned to fulfill that vision and deliver game-changing wireless technology to partners and customers around the globe.”

Share