Foxconn Interconnect Technology (FIT) and Hudson Sustainable Group Invests in Wireless Power Leader, Powermat Technologies and Forms Strategic Partnership

TEL-AVIV, Israel, Dec 16, 2021 / PRNewswire / –  Powermat Technologies, Inc., a global leader in advanced wireless power technology, today announced a significant investment in a $ 25 million Series B round. by Foxconn Interconnect Technology, a leader in the development of global connectivity solutions, and Hudson Sustainable Group, a founding shareholder of Powermat.

Powermat’s innovative wireless power technology is a key driver of smart mobility, autonomous robotics, industrial drones, medical devices, telecommunications, and Internet of Things (IoT) industries, where Powermat is experiencing exponential growth. The current Series B funding round, led by FIT and Hudson, will help finance the company’s growth and penetration into key customer segments, including automotive, micro-mobility, and autonomous robotics. The strategic partnership with FIT also includes FIT and Powermat’s partnership on go-to-market strategies to promote goals shared by both companies, such as acquiring new and emerging markets for wireless energy.

“This investment from FIT and Hudson Sustainable Group will enable Powermat Technologies to tap into the enormous demand for wireless power solutions, better solve future customer challenges, and lead the evolutionary cycle of wireless power technology in the autonomous and IoT industries.” , said Elad Dubzinski, CEO of Powermat Technologies. “We look forward to developing our relationship with FIT as a strategic investor and partner, which will enable both companies to consolidate their positions as market leaders.”

“Wireless access to energy is an essential element of the new mobility ecosystem, an area of ​​business that requires more attention from FIT,” said Thomas Fann, special assistant to the president of FIT. “Technology and OEM companies are looking for reliable, high-performance, and cost-effective wireless power solutions. Powermat offers wireless technology solutions to OEMs with an unmatched level of service that ensures successful implementation of their reference designs and technologies. . We see our investment in Powermat as another step in a mutually beneficial partnership that will enable future success of the

“Having worked with Powermat Technologies since 2012, we strongly believe in the company’s progress and its position as a major player in the wireless power industry,” said Neil Auerbach, CEO and Managing Partner of Hudson Sustainable Group. “In addition to its superior technology offering and longevity in the industry, Powermat’s management team has demonstrated remarkable ability to lead the company into high-growth emerging markets, where there is a high demand for charging and power solutions. wireless. “

As the first company to offer consumers wireless charging technology, Powermat develops advanced solutions for Qi-certified and proprietary wireless power technology for various industries and use cases based on magnetic induction, also known as inductive charging. Currently, the company’s solutions are used on more than 800 million smartphones, 40 million embedded accessories and 8 million cars worldwide, in collaboration with leading high-tech and mobility partners, including FIT, Flex, General Motors, Harman International, Kyocera, and Samsung.