A Singapore-based wireless charging technology startup Xnergy has raised USD 10 million from FineWill in a pre-series A funding round as announced on May 8, 2021.
The funding is aimed to develop the Chinese market by launching a development center in Suzhou, China to produce and localize the next-generation product and develop an artificial intelligence platform.
About Xnergy
Founded in 2017 in Singapore, and with Co-founder and CEO CF Tong, Xnergy is involved in developing wireless charging technology for autonomous robots. The main product of the company is a charging stand that functions irrespective of the type of robots or battery used. Last September, it started mass production of its charging stand on a small scale and currently ships 100 to 200 units a month.
Xnergy solves the problem of conventional charging with cable leads like battery compatibility, restricted operating environment, high failure rate, and human involvement through its high power wireless charging. It has a patented coil designed to stop electromagnetic interference, a high-power converter, and vector control technology.
The company’s chargers are normally found in the factories. The technology of the company is said to increase the investment for autonomous robots by more than 30%. The charging stands are also compatible with different types of robots used in hospitals, auto plants thus helping in reducing the costs. It operates even when the battery is not aligned precisely with the charger and has a margin of plus 4 or minus 4 and can charge the battery from up to 7 cm away, and because of it being wireless, no metal parts are exposed to the air, thus majorly improving safety.
There are four big customers of the startup -Singaporean robot maker ST Engineering, French Warehouse robotics company Balyo and China’s biggest robot manufacturer, Siasun Robot &Automation. It has also tied up with major German semiconductor manufacturers Infineon Technologies, Singapore’s Changi General Hospital, French carmaker Peugeot and others.
Xnergy has forecasted that its sales will triple in the first half of 2021 from a year earlier. With increasing sales, the company also aims to expand the size of its technical support team. With increasing sales, the company is focusing on production and quality management by outsourcing sales to agents. Because of its partnership with Infineon, the company has been able to procure chips smoothly despite being a global shortage of semiconductors. “Xnergy’s product is standardized but can be customized to suit customer needs”, said the spokesperson of the company.
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