CaPow Raises $7.5 Million Seed Round Funding to Introduce Battery-Free Perpetual Power Delivery System for Robots in Logistic Centers and Industrial Facilities
BE'ER SHEVA, Israel, Feb. 13, 2023 /PRNewswire/ -- CaPow, a perpetual power solution provider, today announced it raised a $7.5 million Seed round to scale up the commercialization of its battery-free, wireless, energy delivery eco-system for autonomous robotics. This solution provides continuous power for automated robotic environments while eliminating robot downtime due to charging. The round was led by IL Ventures, a VC fund focused on disruptive technologies for legacy industries, with co-investment from Mobilion VC, Payton Planar Magnetics, Doral Energy-Tech Ventures, Mobilitech Capital, and Mr. Ray Nissan, a prominent angel investor.
CaPow's autonomous, battery-free and high-power energy eco-system eliminates robots' dependency on costly, hazardous, Lithium-Ion batteries. The company's patented technology dramatically reduces CapEx, OpEx and carbon footprint, while keeping optimal operational continuity as there is no robot downtime due to charging.
BE'ER SHEVA, Israel, Feb. 13, 2023 /PRNewswire/ -- CaPow, a perpetual power solution provider, today announced it raised a $7.5 million Seed round to scale up the commercialization of its battery-free, wireless, energy delivery eco-system for autonomous robotics. This solution provides continuous power for automated robotic environments while eliminating robot downtime due to charging. The round was led by IL Ventures, a VC fund focused on disruptive technologies for legacy industries, with co-investment from Mobilion VC, Payton Planar Magnetics, Doral Energy-Tech Ventures, Mobilitech Capital, and Mr. Ray Nissan, a prominent angel investor.
Today, many automated solutions rely on batteries for power supply. This dependency leads to several inherent inefficiencies such as charging downtime and rampant costs due to the need for additional robots to replace ones that are being charged. Moreover, traditional batteries have a negative environmental impact, as they create safety hazards and are an operational "headache" since they require dedicated procurement strategy, special shipping, handling, storage and recycling.
CaPow addresses the primary bottleneck for automation: the challenge of providing reliable, cost-effective, and non-pollutive energy. 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, while ending the concept of reliance on legacy batteries. CaPow's "battery-free", paradigm-shifting solution is being well received along the logistics value chain, as it is validated to cut down the size of the required robot fleet, enhance throughput and improve the ROI of automation.
CaPow's proprietary solution facilitates optimal power transfer with wide and dynamic capabilities. It accommodates multiple users, as well as the presence of metal and debris in and around the energy transfer field. In addition, it supports large distances between the transmitting and receiving ends, as well as wide spatial coverage. This provides substantial power levels with optimal end-to-end efficiency. The value of CaPow's technology further expands to the wider mobility market with a wide range of applications.
Mr. Amir Fishelov joins CaPow's Board of Directors as Chairman of the Board, leveraging his two decades of experience as Co-Founder of SolarEdge (Nasdaq: SEDG), a pioneer and global leader in smart energy technology. At SolarEdge, a $17B company, Mr. Fishelov served as Chief Architect as well as VP Strategy and Corporate Development, leading large-scale and complex energy management projects.
"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."
"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."
"I am very proud BGN Technologies took part in bringing CaPow's revolutionary technology to the market," says Zafrir Levi, VP Exact Sciences at BGN, the commercialization arm of the Ben-Gurion University. "We wholeheartedly believe in CaPow's Perpetual Power solution, and this investment is proof of the company's superior technology and for the massive potential for disrupting the industry in which it operates".
About CaPow
CaPow is a pioneer in the field of continuous power delivery, facilitating a revolutionary perpetual power sourcing solution that drives a change in the way automation solutions are designed and deployed. This enables customers to achieve maximal efficiency while dramatically reducing overall expenses. CaPow's Genesis system allows robotic fleets to reach round-the-clock, constant, 100% throughput by eliminating charging downtime.
Based on nearly two decades of research and backed up by extensive patent portfolio, CaPow's technology significantly improves automated fleets power delivery strategy, simplifies infrastructure installation, and establishes eco-friendly deployments.
CaPow's roadmap, guided by innovative spirt, is supported by leading investors and distinguished members in the industry. Former Amazon Robotics leaders Vikas Enti and Nils Alstad serve as strategic advisors to the company. Visit capow.energy or follow us on LinkedIn.
About IL Ventures
IL Ventures invests in disruptive yet tangible technologies that offer deep, actionable insights which drive better business decisions. The fund combines capital with incredibly deep operational experience and an unparalleled global network that helps founders rapidly scale and go global. Backed by top-tier global investors and partners, its team of company builders and industry executives is poised to unlock the full potential Israel's most promising startups. For further information visit www.il-ventures.com.
For further information, please contact:
Noam Geffen
VP Business Development
[email protected]
+972544448467
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