New backers for wireless charging startup in $5.7m deal
WiBotic in Seattle has raised $5.7m for its wireless charging technology. The Series A funding comes from a new set of investors led by Junson Capital, SV Tech Ventures, Rolling Bay Ventures and Aves Capital, along with existing backers The W Fund and WRF Capital.
WiBotic is a spin off from the University of Washington, develops off-the-shelf hardware and software wireless charging systems for industrial robots, UAVs and marine robots. It’s wireless charging is more resilient and reliable than contact-based systems and helps simplify charging logistics and reduce maintenance costs. Robots and drones can connect to power with greater accuracy, improving productivity.
One system for wireless charging UAVs uses power devices from GaN Systems and Vicor:
- AUTONOMOUS CHARGING BOOSTS DRONES AND INDUSTRIAL ROBOTS
- GAN SYSTEMS, WIBOTIC TEAM FOR AUTONOMOUS CHARGING
“WiBotic will use the Series A funding to accelerate the company’s growth, expand our sales team, advance hardware and software engineering, and fulfil increased customer demand,” said Ben Waters, CEO of WiBotic. “Our mission is to power the world of autonomous systems. By providing mission-critical technologies for autonomous charging and fleet energy management, we help organizations quickly scale-up robotic fleets, improve robot uptime while reducing recurring charging and maintenance costs. Our successful Series A funding accelerates our innovation and growth to ensure we lead the charge in powering autonomous systems.”
“WiBotic provides highly reliable wireless power solutions and really understands the complexities associated with managing hundreds or thousands of batteries in a fleet that all need to get charged up,” said Geoff Entress, Series A investor and Managing Director at Rolling Bay Ventures. “This is a market that’s well positioned for growth. According to ABI Research’s recent Commercial and Industrial Robotics market data report, the robotics market is projected to hit a market valuation of $277bn by 2030. This is driving increased demand for wireless charging technology that works seamlessly, with minimal human intervention. We’re optimistic about WiBotic’s vision and its ability to capture significant market share in a burgeoning industry.”
The company raised $2.5m in 2017 in a seed round led by Tsing Capital, and includes investments from Comet Labs and Digi Labs as well as follow-on investments from W Fund, WRF Capital and Wisemont Capital. Seed investors usually continue their backing to ensure their investment is not diluted.
As part of this funding round Mark Rogers, Chief Revenue Officer at Coolfire Solutions, joins WiBotic’s Board of Directors. He was previously SVP of Business Development at Mendix which was acquired by Siemens. He also held senior roles at Microsoft including global head of Microsoft Azure product management when it launched into the market, as well as leading global ISV and Developer Marketing for Microsoft Windows.
“With the addition of Mark to our Board of Directors, WiBotic has gained a proven leader who will contribute significantly to our vision, technology and business growth,” said Waters. “We’re thrilled to have attracted prominent investors, as well as a talented and experienced team of thought leaders and advisors, as we take our products to the next level of maturity.”
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