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…

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