Thursday, 20 September 2018

Chargifi announces additional £5m investment to power growth and global expansion

posted by Chargifi
Wednesday 11 April 18

Today Chargifi, the foundational technology for scaling wireless power, announces that it has raised a £5 million funding round. The investment was led by Accelerated Digital Ventures (ADV), with other investors including Hewlett Packard Enterprise (HPE) and firstminute capital. This investment will enable Chargifi to accelerate sales and marketing, and international growth across US and Asian markets at a time when the demand for wireless power is on the rise – according to Global Marketing Insights the wireless charging market is set to be worth $25billion by 2023. Chargifi provides the foundational technology that enables global brands…

Today Chargifi, the foundational technology for scaling wireless power, announces that it has raised a £5 million funding round. The investment was led by Accelerated Digital Ventures (ADV), with other investors including Hewlett Packard Enterprise (HPE) and firstminute capital. This investment will enable Chargifi to accelerate sales and marketing, and international growth across US and Asian markets at a time when the demand for wireless power is on the rise – according to Global Marketing Insights the wireless charging market is set to be worth $25billion by 2023.

Chargifi provides the foundational technology that enables global brands, including Grand Hyatt and Pret a Manger, to transform the way they manage, monitor and monetise power. Chargifi has built and patented an Internet of Things (IoT) platform specialising in the control and enterprise management of wireless power infrastructure. Chargifi’s IP covers ‘cloud-connected’ wireless charging for smartphones, through to electric vehicles and drones. Chargifi’s growth is being fuelled by increasing demand for enterprise grade wireless power; to meet this demand Chargifi is establishing strategic partnerships with managed service providers and systems integrators globally.

The strategic investment from HPE establishes Chargifi’s relationship with the global technology powerhouse. In addition to investing in the business, HPE and Chargifi will be partnering to take Chargifi’s wireless power to HPE’s worldwide customers as part of its connectivity solutions.

Also being announced today is a strategic partnership with Losant, a fast-growing Internet of Things (IoT) platform that brings together a variety of options to address client technology needs from a holistic point of view. Losant, also a HPE partner, will now enable its global customer base to deploy Chargifi’s wireless power technology.

To support this strategic growth and maintain momentum globally, Chargifi expects to double its headcount over the next year.

Dan Bladen, Co-founder and CEO of Chargifi said: “We are delighted to have secured this round of funding, giving us the firepower to scale our growth plans, as well as strategic value and partnerships from our investors.”

“At Chargifi we believe that the world is going electric and electric is going wireless – this is a monumental shift. As a society, we have never been more reliant upon power for our phones and vehicles than we are today. This year you will be able to charge your new car wirelessly, by pulling it up over a wireless charging area. In the future drones will land on buildings and charge wirelessly before taking off again.”

Bladen continues: “Chargifi is doing for power what WiFi did for connectivity: cutting the final cord and helping people get power when and where they need it. From phones to drones, Chargifi is building the foundational software platform that will enable this global evolution. From coffee shops to hotels, airports to campuses - In just a few short years from now Wireless Power will be as ubiquitous as WiFi.”

Mike Dimelow, Chief Investment Officer at ADV commented: “Building out the infrastructure to enable consumer wireless charging at scale needs to happen now. Chargifi is a market-leading platform that will allow billions of us to take advantage of wireless power. We are proud to be leading a round which includes HPE and firstminute capital, partnering with existing investor Intel Capital. With patient venture backing as well as an incredibly ambitious leadership team, Chargifi will be market-defining.”

Vishal Lall, SVP, Strategy and Ventures, Hewlett Packard Enterprise said: “Our focus for the Pathfinder program is to identify and invest in companies with the greatest potential and integrate them into our solutions. This unique approach enables us to offer differentiated solutions to solve critical problems for customers.”

Lall continues: ”Today’s enterprises are demanding more connectivity, and power is central to that experience. We are excited to invest in Chargifi’s unique and progressive technology and integrate it as part of our connectivity solution for the benefit of our customers around the world.”

Spencer Crawley, co-founder & General Partner, firstminute capital commented: “The Chargifi team have something rare, the foresight and resilience to found a business ahead of its time. firstminute capital firmly believes that this persistence, as well as passion, puts Chargifi in a uniquely advantageous position to become the leader in a new, rapidly expanding market. We are delighted to be partnering with Dan and the team, and are excited to play a small role in helping Chargifi scale globally, as wireless charging becomes ubiquitous.”
 


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