WiBotic Inc., which makes wireless charging and power-optimization systems for robots, today said that it has obtained Series A funding of $5.7 million. The Seattle-based company said it plans to use the investment to hire more staffers, continue developing its technology, and reach new customers.
Wireless charging is more resilient and reliable than contact-based systems, and it can simplify charging logistics, reduce maintenance costs, and increase robot productivity, claimed WiBotic. The company’s hardware and software are designed to work with aerial drones, autonomous mobile robots, and marine systems. One customer using WiBotic’s charging stations is Waypoint Robotics Inc. in Nashua, N.H.
“WiBotic will use the Series A funding to accelerate the company’s growth, expand our sales team, advance hardware and software engineering, and fulfill increased customer demand,” stated Ben Waters, CEO of WiBotic. “By providing mission-critical technologies for autonomous charging and fleet energy management, we help organizations quickly scale up robotic fleets [and] improve robot uptime while reducing recurring charging and maintenance costs.”
Investors flip the switch for WiBotic
Investors in WiBotic’s Series A round included Junson Capital, SV Tech Ventures, Rolling Bay Ventures, Aves Capital, The W Fund, and WRF Capital, among others.
“WiBotic provides highly reliable wireless power solutions and really understands the complexities associated with managing hundreds or thousands of batteries in a fleet that all need to get charged up,” said Geoff Entress, Series A investor and managing director at Rolling Bay Ventures. “This is a market that’s well positioned for growth. According to ABI Research’s recent “Commercial and Industrial Robotics” market data report, the robotics market is projected to hit a market valuation of $277 billion by 2030. This is driving increased demand for wireless charging technology that works seamlessly, with minimal human intervention.”
In addition, Mark Rogers, chief revenue officer at Coolfire Solutions, has joined the company’s board of directors. He has expertise partnering with startups to enhance their sales strategies and revenue streams and was previously senior vice president of business development at Mendix, which Siemens later acquired. Rogers has also held senior roles at Microsoft including global head of Microsoft Azure product management and leader of global independent software vendors and developer marketing for Microsoft Windows.
“With the addition of Mark to our board of directors, WiBotic has gained a proven leader who will contribute significantly to our vision, technology, and business growth,” said Waters. “We’re thrilled to have attracted prominent investors, as well as a talented and experienced team of thought leaders and advisors, as we take our products to the next level of maturity.”