Toyota leads $15m round for CaPow wireless charging
Industrial wireless charging startup CaPow in Israel has raised $15m to scale up R&D and production.
The Series A round was led by Toyota Ventures and included the participation of Elements VC, along with more than double-down investments from IL Ventures, Payton Planar Magnetics LTD., Mobilion and Doral Energy-Tech.
CaPow has developed an RF wireless charging system for automated fleets of robots to provide power while the vehicle is in-motion, eliminating charging downtime and reducing battery dependence. By powering fleets while en-route, CaPow dramatically reduces capital expenses and ensures 100% throughput for the lifetime of the robot.
Read our interview with CEO Prof Mor Peretz here: Robot wireless charging for industrial automation
“We are pushing the boundaries of energy management technology with the goal of completely transforming its role in industrial environments, providing a one-stop-shop for the fleet energy concerns,” said Prof. Mor Peretz, Co-Founder & CEO of CaPow. “This funding from such market-makers is a vote of confidence that accelerates our momentum to drive innovation around perpetual power in the robotics, manufacturing, and logistics industries at scale.”
Hyundai CRADLE in Tel Aviv has completed a trial of the CaPow wireless charging technology at its Glovis plant, facilities, achieving 100% uptime for Automated Guided Vehicles (AGV). While traditional AGVs usually achieve about 7 hours of work per 1-hour charge, the robots equipped with the CaPow system demonstrated 100% uptime, improving the overall warehouse efficiency.
If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :
