Non-Stop Robot Startup Raises $7.5M
A startup that provides warehouse robots with a non-stop power supply has raised $7.5 million in funding.
CaPow keeps robots operating and eliminates battery changes and charging stations by transmitting power from strips of stickers on the floor.
Its energy system consists of an internal receiver, a power bank, and stickers placed on the bottom of the robot, which replaces heavy and inefficient batteries, and provides wireless and battery-free charging.
The internal receiver is powered as the robots move over floor stickers, and they only use the power bank while moving in between stickers.
CaPow’s solution ends the need for additional and costly robots to replace the ones that are being charged.
“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”, says Prof. Mor Peretz, CEO at CaPow.
“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.”
Traditional batteries also have a negative environmental impact – they are a safety hazard, and require special shipping, handling, storage, and recycling once they can no longer be used.
The funding was raised by IL Ventures, with participation from Mobiliion VC, Payton Planar Magnetics, and others.
CaPow was founded in 2018, and is based in Be’er Sheva, southern Israel.