CaPow (provider of Genesis), which is an in-motion power delivery solution for robotic fleets (see Pulse 2.0 profile here), announced it raised $15 million in Series A funding to accelerate its efforts in global growth and market expansion. The funding round was led by Toyota Ventures and included the participation of Elements VC, along with more than double-down investments from IL Ventures, Payton Planar Magnetics LTD., Mobilion, Doral Energy-Tech, and more.
CaPow is a category defining upstart advancing industrial automation through power delivery. And progress in automation efficiency has slowed as a result of several factors including outsized fleet purchases and reduced productivity resulting from charging downtime, and various logistical, safety, and environmental challenges due to dependence on big and heavy lithium-ion based batteries. Meeting these challenges improves ROI and significantly lowers cost of ownership.
CaPow’s Power-In-Motion technology addresses operational efficiency challenges by delivering power to automated fleets while the vehicle is in-motion, eliminating charging downtime and reducing battery dependence. And the novel solution tackles critical energy challenges.
By empowering fleets while en-route, CaPow substantially reduces capital expenses and ensures 100% throughput for the lifetime of the robot. Companies adopting CaPow have seen a 32% decrease in cost of ownership and a 45% increase in automation operational efficiency.
With the new funding round, CaPow will utilize the investment to broaden its global expansion into new markets, grow its global operations, scale R&D, and ramp up production to meet soaring market demand, solidifying the company’s pioneering product as the go-to solution in industrial automation.
Launched in 2019 by industry-leading engineers Prof. Mor Peretz, Dr. Eli Abramov, and Dr. Alon Cervera, CaPow’s investors include IL Ventures, Payton Planar Magnetics LTD., Mobilion, Doral Energy-Tech, and more.
KEY QUOTE:
“We are pushing the boundaries of energy management technology with the goal of completely transforming its role in industrial environments, providing a one-stop-shop for the fleet energy concerns. This funding from such market-makers is a vote of confidence that accelerates our momentum to drive innovation around perpetual power in the robotics, manufacturing, and logistics industries at scale.”
– Prof. Mor Peretz, Co-Founder & CEO of CaPow
