Capow secures funding for automation efficiencyCapow, an Israel-based provider of power delivery solutions for the robotics field, has raised USD15 million in funding.
Intended to accelerate the company’s efforts to expand globally and increase its R&D efforts, the round involves Toyota Ventures, as well as Elements VC, IL Ventures, Payton Planar Magnetics, Mobilion, and Doral Energy-Tech.
The funding coincides with the recent slowing of progress around automation efficiency, which Capow attributes to factors like outsized fleet purchases, charging downtime, and the reliance on heavy, lithium-ion based batteries.
The company is positioning its "Power-In-Motion" technology, which delivers power to automated vehicles while they are in-motion, as a solution to these challenges.
“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,” says Mor Peretz, co-founder and CEO of Capow.
“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.”