February 17, 2023
Israeli startup CaPow has closed a seed funding round with $7.5 million for its battery-free robotic charging system.
The company’s wireless charging design provides continuous power for robots in the logistics and manufacturing industries, reducing operational inefficiencies such as charging downtime and avoiding the environmental impact of non-recyclable legacy batteries.
CaPow’s design works by placing stickers on the floor of a site, as well as on the underside of the robots. When a robot passes over a sticker, its internal power bank is activated so it can be continuously charged on the go.
The latest funds will be used to scale up the commercialization of this wireless energy system, as well as increase the company’s market standing.
"With the backing of our investors and strategic partners, CaPow is challenging robot manufacturers, automation solution providers, and facility operators to change their definition of operational efficiency", said Professor Mor Peretz, CaPow’s CEO. "We look forward to accelerating our product development to meet strong market demand for our innovative and proven technology. The company will use the proceeds from the investment round to expedite business growth in markets around the world."
The round was led by IL Ventures, with co-investment from Mobilion VC, Payton Planar Magnetics, Doral Energy-Tech Ventures, Mobilitech Capital and Ray Nissan.
Former Amazon Robotics leaders Vikas Enti and Nils Alstad serve as the company’s strategic advisors.
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