CaPow, an Israeli perpetual power solution provider, has secured $7.5 million in a Seed funding round led by Tel Aviv-based IL Ventures.
Other participating investors include Mobilion VC, Payton Planar Magnetics, Doral Energy-Tech Ventures, Mobilitech Capital, and Mr. Ray Nissan, a prominent angel investor.
Additionally, former Amazon Robotics leaders Vikas Enti and Nils Alstad serve as strategic advisors to the company.
The company will use the proceeds to scale up the commercialisation of its battery-free, wireless, energy delivery eco-system for autonomous robotics.
“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”, says Prof. Mor Peretz, Co-Founder & CEO at CaPow. “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.”
Besides funding, the company also announced that Mr. Amir Fishelov joined CaPow’s Board of Directors as Chairman of the Board, leveraging his two decades of experience as Co-Founder of SolarEdge.
Provides continuous power delivery
Founded by Prof. Mor M. Peretz, Dr. Eli Abramov, and Dr. Alon Cervera, CaPow pioneers continuous power delivery, facilitating a perpetual power sourcing solution disrupting the way automation solutions are designed and deployed.
Many automated solutions today rely on batteries for power. This reliance causes several inherent inefficiencies, such as charging downtime and exorbitant costs due to the need for additional robots to replace those that are charged.
The Israeli company addresses the primary bottleneck for automation.
By offering consistent power flow for mobile robots, CaPow’s energy delivery eco-system allows automated robotic solutions to continuously operate with no energy depletion downtime.
The company’s proprietary solution facilitates optimal power transfer with wide and dynamic capabilities.
Additionally, it supports large distances between the transmitting and receiving ends, as well as wide spatial coverage, providing substantial power levels with optimal end-to-end efficiency.
“At IL Ventures, we align closely with CaPow’s mission of creating a sustainable, battery-free power supply for the industry,” says Yoni Heilbronn, Managing Partner at IL Ventures. “We are excited to invest in an exceptional and proven technology, which is a game changer for the entire robotic power landscape.”
The post Backed by former Amazon robotics execs this Israeli-tech gets $7.5M to develop battery-free robots appeared first on Tech Funding News.