PowerSphyr, Inc. announced an increased investment from Faurecia, one of the world’s leading automotive technology companies. The $4 million Series A funding raised by PowerSphyr will help the company focus on developing Automotive “Cockpit of the Future”.
This key investment by Faurecia will help to accelerate development of automotive wireless charging solutions.
“This is the ultimate ‘smart money’ investment given Faurecia’s commitment to deliver the truly connected car,” said Neil Ganz, President, and CEO. “This investment brings embedded wireless power to the global automotive market.”
This Series A fund investment will accelerate PowerSphyr’s design, development and delivery into the multi-billion-dollar automotive OEM market. Starting in 2020, Faurecia will be delivering a full suite of wireless power solutions enabled by PowerSphyr.
“Seamless wireless power delivery is an important cornerstone to enhance unique user experiences inside the Cockpit,” said Guillaume Peronnet, VP of Strategy at Faurecia in North America. “We are investing in PowerSphyr’s best-in class technology to accelerate our vision, strategy and execution of wireless power embedded into the next generation of smart and connected Cockpits.”