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Resonant Link recently raised $9.3 million in seed funding

  • Resonant Link recently raised $9.3 million in a seed funding round. These are the details.

Resonant Link – a developer of transformational wireless charging technology for medical devices and electric car fleets – recently announced that it has raised a $9.3 million funding round led by The Engine, the venture capital firm spun off from MIT that invests in early-stage Tough Tech companies. New investor Volta Energy Technologies also participated in the round along with former pre-seed investors including Emerson Collective, Scout Ventures, Urban Us and FreshTracks Capital.

The new round of funding will be used for strategic hiring and to support product development and customer deployment. And this growth will accelerate Resonant Link’s mission to bring wireless power to every medical device to eliminate drivelines and battery replacement operations and support the electrification of industrial automotive fleets with wireless charging. which offers 24/7 availability with smaller batteries.

Resonant Link builds best-in-class wireless chargers to power implantable medical devices and accelerate electrification in robotics, material handling and electric vehicles. And its powerful Multi-Layer Self-Resonant Structure (MSRS) enables wireless chargers that are:

— Performance 5 to 10 times higher than what is possible with existing technologies

— Charges 5 to 10 times faster (speed)

— 4x lower normalized cost

— 3 times lighter

— 3 times smaller

Resonant Link’s MSRS enables 99% efficient wireless links and supports medical implant depths up to 6 times deeper than current technology while meeting FDA temperature limits for devices such as as pacemakers, neurostimulators and ventricular assist devices (VADs). And attaching medical devices with wires and accessing them for charging is either not possible or an unattractive and dangerous option for patients.

Conventional cordless power coils fundamentally cannot provide the efficiency, biocompatibility, tight integration, large gaps, and small size requirements. And Resonant Link solves that challenge with the MSRS coil and its power electronics technology for 20x higher recharge rates, easier alignment for patients, and smaller devices, all at once.

The platform’s technology offers a reliable and economical way to charge electric vehicles during the short stops that already exist during operation, extending range and reducing on-board batteries. Currently, the high upfront cost and significant vehicle downtime for charging is slowing the shift to electric vehicles (EVs).

Fleets buy 2-3 times more vehicles than they need to deal with downtime and batteries need to be sized for shifts of 8 hours or more. And with route-integrated wireless charging, the whole charging downtime paradigm is eliminated. Vehicles can operate 24/7 and batteries only need to be sized for 1 or 2 mission loops, making electric vehicles a no-brainer for fleet customers.

Resonant Link was founded in 2017 by CEO Grayson Zulauf, PhD, Electrical Engineering, Stanford University; CTO Aaron Stein, PhD, Power Electronics, University of Michigan; CSO Phyo Aung Kyaw PhD, Electrical Engineering, Dartmouth; and Professor Charlie Sullivan of Dartmouth. And its growing team is a mix of former founders, engineers and industry veterans from Tesla, Apple, Motiv and Dynapower. The company is headquartered in Vermont, has employees in Massachusetts, California and Zurich, and plans to expand to all three locations in 2022.

Since its inception, Resonant Link has secured customers across all industries, including 6 Fortune 500 companies, to power their mission-critical applications. Over the past year, the company has been profitable and has grown its revenue 6 times year over year. During this time, his clientele has doubled. Currently, 7 medical partners are designing Resonant Link wireless power into their implantable devices and 13 fleets have signed up for first deployment in their industrial electric fleets (robots, forklifts).

Resonant Link is a partner of the US Air Force (AFWERX), US Army (xTech), Activate/Cyclotron Road, US Department of Defense, Stanford University TomKat Center for Sustainable Energy, from the National Science Foundation, Shell NREL GCxN Gamechanger and Dartmouth College. .

KEY QUOTES:

“Energy and electricity have become the new drivers of competition in industry, especially transportation and healthcare, as consumers and patients demand better, safer and more mobile experiences. Our technology is not just an evolution of wireless charging; By fundamentally changing the geometry of the cordless coil from two to three dimensions, we enable equal and faster charging speeds than corded, longer ranges, smaller chargers, and drastically reduced on-board battery sizes. This smaller battery footprint and longer life translates to less inconvenient medical implants and fewer stops and more miles for industrial fleets.

— Dr. Grayson Zulauf, co-founder and CEO of Resonant Link

“Resonant Link’s focus on medical and transportation applications shows just how broad the potential reach of their technology is. Mobility is becoming the norm for almost all consumer electronics requiring power. Resonant Link brings mobility to the most essential and challenging devices. I think they have the ability to positively impact and improve future medical devices and transportation infrastructure. »

— Orin Hoffman, partner at The Engine