CaPow secures $15M Series A to redefine industrial automation
Backed by Toyota Ventures, IL Ventures, Elements VC, Payton Planar, and Doral Energy, CaPow scales production and R&D to meet growing demand worldwide
CaPow, an in-motion power delivery solution for robotic fleets, announced it raised $15M in Series A funding to accelerate its efforts in global growth and market expansion. CaPow is a category-defining upstart advancing industrial automation through power delivery. The round was led by Toyota Ventures and included the participation of Elements VC, along with more than double-down investments from IL Ventures, Payton Planar Magnetics LTD., Mobilion, Doral Energy-Tech, and more.
Progress in automation efficiency has slowed as a result of several factors, including outsized fleet purchases and reduced productivity resulting from charging downtime, and various logistical, safety, and environmental challenges due to reliance on big, heavy, lithium-ion-based batteries. Meeting these challenges improves ROI and significantly lowers the cost of ownership.
CaPow’s market unique Power-In-Motion technology addresses operational efficiency challenges by delivering power to automated fleets while the vehicle is in motion, thus eliminating charging downtime and reducing battery dependence. The novel solution tackles critical energy challenges. By powering fleets while en-route, CaPow dramatically reduces capital expenses and ensures 100% throughput for the lifetime of the robot. Companies adopting CaPow have seen a 32% decrease in the cost of ownership and a 45% increase in automation operational efficiency.
With the new funding, CaPow will utilize the investment to broaden its global expansion into new markets, grow its global operations, scale R&D, and ramp up production to meet soaring market demand, cementing the company’s pioneering product as the go-to solution in industrial automation. The industrial automation market size is expected to grow at a compound annual growth rate (CAGR) of 9.2%, reaching more than $460 billion by 2032, according to some industry analysts.
Prof. Mor M Peretz
“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,” said Prof. Mor Peretz, Co-Founder & 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.”
Founded in 2019 by industry-leading engineers Prof. Mor Peretz, Dr. Eli Abramov, and Dr. Alon Cervera, CaPow’s investors include IL Ventures, Payton Planar Magnetics LTD., Mobilion, Doral Energy-Tech, and more.
