The vehicle charging technology developer, a spinout from MIT, has secured a further $18m for a Mitsubishi-backed round.
WiTricity, a US-based developer of wireless charging technology for electric vehicles, has increased a funding round backed by Mitsubishi Corporation (Americas), a subsidiary of Japan-headquartered conglomerate Mitsubishi, to $52m.
Venture capital firm Future Shape and undisclosed private investors added $18m to the $34m first tranche of the round, led by Stage 1 Ventures and backed by Mitsubishi and Air Waves Wireless Electricity, a vehicle associated with Kenneth Horowitz, co-founder of cellular frequency licensor Cellular One, in November 2020.
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