Energysquare has raised €3M to create a new standard in wireless charging
Following the announcement of a technological partnership with Lenovo at CES 2020, the company is now receiving support from VC fund Partech to accelerate its deployment among electronics manufacturers.
Paris, June 3rd, 2020 - Energysquare today announced a €3M
fundraising round led by Partech. Energysquare was founded in 2015 by Daniel
Lollo, Timothée Le Quesne and Matthieu Poidatz. Within a few years, the company
succeeded in creating a wireless charging technology that overcomes the
shortcomings of existing technologies.
"Leaders in the electronics industry have invested billions over the past decade, yet they have been struggling significantly with wireless charging," explains Timothée Le Quesne, CEO of Energysquare. "Today's solutions are not very user-friendly, they waste a lot of energy, and are much slower than a wire charger. With Power by Contact technology, we offer a radically different vision of wireless charging. Our goal is to bring to the market a new standard of wireless charging, based on a powerful conductive technology, without energy loss, and as fast as a conventional charge. All the advantages of cable, without the cable! "
Office workspaces can also be re-imagined, as Energysquare's solution not only makes it very easy to move from one workstation or meeting room to another, without worrying about the battery level of all your electronic devices (computer, mobile, wireless headphones, etc.), but also to automate the connection with work or presentation screens, thanks to wifi 6 technology.
Energysquare already has a portfolio of international patents, registered thanks to the support of France Brevets. Thanks to this technological advantage, Energysquare has succeeded notably in convincing Lenovo, the Chinese industrial giant and leader in the sector, to sign a technological partnership to explore integration into their new laptop models. At CES 2020, the two companies demonstrated the first Lenovo notebook models embedding Energysquare's Power by Contact technology.
Following this partnership, and with the ambition to become the next wireless charging standard by licensing its technology to leading manufacturers in the industry, Energysquare convinced Partech to participate in the venture by leading this new round of financing. "When Timothée and Daniel came to present their technology and strategy, we were all very impressed by what this young team had managed to develop in a few years when electronic giants have been persistently pursuing induction-based technologies for decades, without being able to develop a viable technology. It's an incredible feat on the part of this team to have taken up the challenge of conduction totally at the opposite end of the market, creating a 100% functional technology and then convincing a major industrialist in such a short time," explained Alison Imbert, Investment Director at Partech.
"This new round of financing will enable us to accelerate our development in Asia and the United States, where the main manufacturers of electronic devices are located, and to provide our customers with the best possible support on the spot" explains Timothée Le Quesne. An office in Taiwan has already been opened.
Power by Contact technology
Unlike the induction charging solutions currently on the market, Power by Contact, operating by conduction, is a concentrate of advanced microelectronics and algorithms that allow users to charge all their devices simultaneously on a single surface, at maximum speed, without electromagnetic waves. This has many advantages for users: no interference, no overheating, no energy loss. In addition, Power by Contact is the first technology that allows any laptop to be charged wirelessly.
Energysquare, a French company founded in 2015, is developing the new wireless charging technology "Power by Contact". Unlike inductive charging technologies on the market, Power by Contact allows the wireless charging of several devices simultaneously, at the same speed as a conventional charger, at high power and without energy loss. The company, which has a large portfolio of international patents developed with France Brevets, sells licenses of this French technology to international electronic device manufacturers.
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With a portfolio of almost 180 companies spread across 30 countries in Europe, the US, Africa, and Asia, Partech has been one of the leading international investors helping visionary founders for almost 40 years. The Partech team – made up of both former entrepreneurs and executives from 15 different countries – brings capital, experience, strategic support, and networks to entrepreneurs at every stage of development: seed, venture, and growth. With over €1.5B AUM, Partech invests tickets from €200K to €50M in B2B and B2C technologies reshaping industries. Companies backed by Partech have completed more than 21 IPOs and more than 50 strategic M&A transactions valued over $100M.
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