Toyota-backed CaPow secures $15M Series A to power robots in motion
Israeli startup’s wireless charging technology eliminates downtime and boosts fleet efficiency.
CaPow, a company developing a solution for providing electricity in motion for fleets of robots, has raised $15 million in a Series A funding round. The round was led by Toyota Ventures, the investment arm of the automotive giant, and included the participation of Elements VC. Existing investors also participated and increased their investment, including IL Ventures, Payton Planar Magnetics LTD., Mobilion, Doral Energy-Tech, and more. To date, CaPow has raised a total of $22.5 million.
CaPow, headquartered in Be'er Sheva, employs 34 people. The company was founded in 2019 by Mor Peretz, one of the youngest professors at Ben-Gurion University, based on his research. He co-founded the company alongside Dr. Eli Abramov and Dr. Alon Cervera. Amir Fishelov, one of the founders of SolarEdge, serves as CaPow’s chairman, while Peretz holds the position of CEO.
CaPow has developed a system called Genesis, which enables robots to charge without a physical connection to electricity, addressing one of the major challenges in the operational efficiency of industrial robots. The primary application is in large logistics centers where dozens or even hundreds of robots move along fixed routes. The system allows energy to be transferred to the robots while they are in motion, using a physical power source. Based on radio wave technology, the solution provides electricity on the go, eliminating downtime for charging and reducing dependence on batteries.
The company claims its technology leads to a substantial improvement in industrial energy management. By supplying electricity during operation and movement, CaPow significantly reduces capital expenditures and ensures 100% full productivity throughout a robot’s lifespan. According to the company, organizations that have adopted its technology have reported a 32% decrease in the total cost of automation solutions and a 45% increase in the operational efficiency of automated fleets.
Automation efficiency has long been hindered by several factors, including the high cost of purchasing robot fleets, productivity losses due to prolonged charging times, and logistical, safety, and environmental challenges associated with the reliance on heavy lithium-ion batteries. By addressing these issues, CaPow’s technology enhances return on investment (ROI) and reduces the total cost of fleet ownership.
