uBeam develops wireless charging technology and is led by CEO Meredith Perry. The company is based in Santa Monica. It is currently pursuing a Series B financing and presented to prospective investors to raise capital. The fundraiser is intended to cover operations for roughly two years at the company’s current cash burn rate. The articles identify several investors involved in the round but note the $20 million raise is not yet complete. No revenue or user metrics were disclosed in the coverage. uBeam's core product uses ultrasound transmitters to send ultrasonic vibrations and a charging case that converts those vibrations into electrical energy, enabling charging at distances of around 15 feet and to multiple devices at once. The company says it has moved from large, non-portable prototype receivers to more compact designs and is shifting focus from small-scale prototype development to large-scale production as it approaches launch. uBeam is preparing to ship wireless phone chargers and has hired seasoned executives — Jeff Devine as COO to manage manufacturing and Monica Hushen as CFO to handle finance and potential M&A/partnership activity. The technology is being pitched as applicable beyond phones to appliances and public venues, and uBeam has held talks with Samsung and Apple while engaging potential strategic partners such as Starbucks, Virgin, Starwood Hotels, and major fast-food brands. Financially, uBeam previously raised a $3.2M seed round and a $10M Series A (October 2014), and has now secured additional capital as it scales. uBeam is building a consumer-facing wireless charging system that uses ultrasonic sound waves to convert inaudible sound into energy to charge devices. Its initial product is planned as a light, unobtrusive protective phone case that charges when in range of a uBeam transmitter, without a large battery on the case. The company has filed multiple patents and says it has a working prototype. uBeam aims to have product in customers’ hands within the next two years and is preparing to move into production. The startup recently hired 11 new employees to accelerate development. To date it has raised about $12 million in total capital. uBeam is developing wireless charging technology intended to power gadgets such as laptops and smartphones without plugging them into wall outlets or other energy sources. The company has filed several patents related to its approach. Meredith Perry, a 22-year-old University of Pennsylvania graduate, founded uBeam and has led public demos, including at TechCrunch Disrupt NYC. uBeam raised $750,000 in seed funding to build out its technology. Investors include Founders Fund's angel investing arm, Andreessen Horowitz, Crunchfund, and individual angels such as Marissa Mayer and Tony Hsieh. The company is described as being in heads-down development; Perry declined to disclose staff count or many details.

Total raised

$41M

Funding rounds

4

Latest round

Series B

Latest activity

Nov 2017