CaPow Secures $15M to Advance Wireless Robot Charging

Israeli startup CaPow has raised $15 million in a Series A funding round led by Toyota Ventures, with participation from Elements VC and existing investors such as IL Ventures and Mobilion. This brings CaPow's total funding to $22.5 million.

CaPow, based in Be'er Sheva, has developed a wireless charging system called Genesis, which allows robots to charge without a physical connection to electricity. This technology is particularly beneficial for large logistics centers where numerous robots operate along fixed routes. By using radio wave technology, the system provides electricity to robots while they are in motion, eliminating downtime and reducing reliance on batteries.

The company plans to use the new funding to accelerate its global expansion, scale research and development, and increase production to meet rising market demand. CaPow's technology has reportedly led to a 32% decrease in the total cost of automation solutions and a 45% increase in operational efficiency for its users.