Israel-based perpetual power solution provider, CaPow raised USD 7.5 million in seed funding. The seed round took place on February 13, 2023. IL Ventures, a VC fund focused on disruptive technologies for legacy industries, led the financing for the company. Meanwhile, Mobilion VC, Payton Planar Magnetics, Doral Energy-Tech Ventures, Mobilitech Capital, and Mr Ray Nissan, a prominent angel investor, joined in the seed round.
As a part of the deal, Mr Amir Fishelov joins CaPow’s Board of Directors as Chairman of the Board.
Purpose of funding for CaPow
With the latest capital injection, CaPow intends to scale up the commercialization of its battery-free, wireless energy delivery eco-system for autonomous robotics.
Moreover, the company aims to fuel its product development to
meet strong market demand for its innovative and proven technology. In addition, it has plans to expedite business growth in markets around the world.
What the company’s co-founder has to say
Prof. Mor Peretz, Co-Founder & CEO at CaPow, said, “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. 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.”
What the investors have to add
Yoni Heilbronn, Managing Partner at IL Ventures, further commented, “At IL Ventures, we align closely with CaPow’s mission of creating a sustainable, battery-free power supply for the industry. We are excited to invest in an exceptional and proven technology, which is a game changer for the entire robotic power landscape.”
In addition, Zafrir Levi, VP of Exact Sciences at BGN, the commercialization arm of Ben-Gurion University, said, “I am very proud BGN Technologies took part in bringing CaPow’s revolutionary technology to the market. We wholeheartedly believe in CaPow’s Perpetual Power solution, and this investment is proof of the company’s superior technology and the massive potential for disrupting the industry in which it operates.”
About the company
In 2018 CaPow came into existence. The company is a pioneer in the field of continuous power delivery, facilitating a revolutionary perpetual power-sourcing solution that drives a change in the design and deployment of automation solutions. CaPow’s technology significantly improves automated fleet’s power delivery strategy, simplifies infrastructure installation, and establishes eco-friendly deployments.
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