The vehicle charging technology spinout of MIT has secured a further $18m for a Mitsubishi-backed round.
WiTricity, a US-based developer of wireless charging technology for electric vehicles based on research at Massachusetts Institute of Technology (MIT), 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…
