Company Overview
About WiTricity
WiTricity is a Massachusetts-based technology company that develops and licenses magnetic resonance-based wireless charging systems for electric vehicles. Founded in 2007 out of MIT research, WiTricity's technology transfers electricity over air gaps of up to 30 centimeters using magnetic resonance coupling — a method that is efficient, safe, position-tolerant, and works through materials like concrete, asphalt, stone, and wood. The result is a charging experience where drivers simply park over a ground pad and charging begins automatically, with no cables, plugs, or manual connection required.
Business Model & Competitive Advantage
WiTricity has raised $146 million in total funding, with its latest round being a $63 million Series G in June 2022 led by Siemens, with investments from Japan Energy Fund, Mirae Asset Capital, Delta Electronics, Stage One, and Airwaves Wireless Electricity. The company's technology achieves end-to-end energy conversion efficiency above 90%, equivalent to plugged-in charging, across a range of 3.6 to 11 kW for passenger vehicles and scaling to hundreds of kilowatts for commercial vehicles. The 2022 Hyundai Genesis GV60 was among the first production vehicles to offer WiTricity-compatible hardware as a factory option.
Competitive Landscape 2025–2026
WiTricity's business model is primarily IP licensing — it licenses its magnetic resonance patents and technical specifications to automotive OEMs, tier-one suppliers, and charging infrastructure manufacturers, enabling broad adoption without requiring WiTricity to manufacture at scale. The company plays a central role in developing international wireless EV charging standards through SAE International and IEC. WiTricity competes with IPT Technology, Momentum Dynamics (acquired by ABB), and emerging in-house OEM charging programs, but holds the dominant IP portfolio in magnetic resonance wireless EV charging.
Key Differentiators
Market Leader
WiTricity is recognized as a market leader in the Automotive & Transportation sector, demonstrating strong industry presence and customer trust.
Frequently Asked Questions
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