WiTricity develops wireless charging solutions for passenger and commercial electric vehicles using magnetic resonance technology. The company aims to accelerate product-to-market timelines for both passenger and commercial wireless charging and to speed development of always-available wireless V2G capabilities that allow parked EVs to return power to the grid. Its technology underpins ratified global EV wireless charging standards including SAE, ISO and GB, and is used by automakers and Tier‑1 suppliers. Founded out of MIT in 2007 and led by CEO Alex Gruzen, WiTricity has expanded beyond licensing to deliver full wireless charging solutions to OEMs, fleets, charge-point operators and end customers. The company holds an extensive patent portfolio with over 1,250 issued patents and acquired Qualcomm Halo’s wireless charging assets in 2019. WiTricity is based in Watertown, MA. WiTricity builds patented magnetic resonance wireless charging systems intended for electric vehicles and other mobility platforms. Its technology is licensed by major automakers and Tier‑1 suppliers—including Toyota, Mahle, TDK, IHI, Shindengen, Daihen, and Aptiv—and is deployed in products such as McLaren’s Speedtail and the BMW 530e iPerformance. The company emphasizes a hands‑free, efficient charging experience and is pursuing dynamic charging for moving vehicles as well as plug‑free charging for autonomous vehicles and robots. WiTricity describes its work as the foundation of global standards to support wide‑scale EV wireless charging adoption. The company recently announced an $18M extension to a prior $34M tranche, bringing the total announced fundraising to $52M. WiTricity has formed a Board of Advisors to support the transition to market adoption, including founder Dr. Marin Soljačić, Tony Fadell, Bill Merritt, Dr. Grant Covic and Jack Watanabe. Founded in 2007, WiTricity is based in Watertown, Massachusetts. WiTricity is the industry pioneer in highly resonant wireless power transfer over distance. The company develops designs and products for wireless charging across consumer electronics, electric vehicles, defense and medical devices. It has existing partnerships with manufacturers including Audi, Mitsubishi, Delphi, Haier, IHI, MediaTek and Thoratec. WiTricity announced a $25 million Series E to support its growth strategy and pursue additional strategic opportunities in the wireless power field. With this infusion the company’s total investment funding now totals $45 million and it recently secured its 50th patent. The firm cited IMS Research projections that the global wireless power market could reach $4.5 billion in 2016, underscoring the market opportunity.

Total raised

$106M

Funding rounds

3

Latest round

Equity

Latest activity

Aug 2022