A wireless power startup has secured $30 million in funding to help develop its technology, with which it aims to "do for power what Wi-Fi has done for data."
Reach Power claims its system is capable of wirelessly delivering hundreds of watts of energy over distances of tens of meters using radio waves, claiming it can power or recharge many end devices at the same time.
The company said its Series B financing round, led by venture capital firm DCVC along with participation from Y Combinator, Transform VC, and Collaborative Fund, will help it fund solutions for a number of power-related challenges that it sees.
These challenges are said to include eliminating the downtime involved in charging up autonomous vehicles and drones; enabling the deployment of temporary microgrids for emergency situations or for military field operations; as well as potentially being used to power miniature IoT devices.
"Reach's mission is to do for power what Wi-Fi has done for data," founder and CEO Chris Davlantes
said in a statement accompanying the funding announcement.
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