Witricity raises £29m investment for wireless vehicle charging tech

Witricity, the wireless charging company, has raised £29 million in venture capital funding to help with the commercial rollout of its technology.

The company said it is already working with "virtually all of the world's automakers" on integrating wireless charging compatibility with electric vehicles (EVs) and wants to create a system that will be compatible with all EVs, regardless of the brand.

Stage 1 Ventures led the latest investment round with participation from Air Waves Wireless Electricity and a strategic investment by Mitsubishi Corporation through its U.S. subsidiary, Mitsubishi Corporation (Americas).

Witricity charging happens automatically once a vehicle is parked without any human intervention—making EV charging hands-free and “easier than refueling”.

The company thinks wireless charging will be particularly important for when self-driving vehicles are introduced in the future, as vehicles will be able to park and charge themselves with no human intervention.

Witricity said its technology can be used to charge compatible EVs “without sacrificing energy efficiency or speed compared to conventional plug-in chargers”.

Alex Gruzen, Witricity chief executive, said: “The mobility industry is at a remarkable inflection point.

“As automakers increasingly prioritize electrification, the industry seeks to improve the EV ownership experience.

“Our wireless charging shifts the act of charging to the background—just park and it charges.”

Mitsumasa Icho, executive vice president, group chief executive, urban development group, Mitsubishi Corporation, believes wireless charging is essential for realising next-generation urban city and infrastructure services that capture the shift to EV and autonomous driving.

David Baum, managing director, Stage 1 Ventures, said: “Wireless charging capabilities for electrified vehicles ranging in size—from scooters to cars to buses and trucks—enables vehicles that are not only better for the environment and convenient for users, but opens up the door for true autonomy and shared mobility.”