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Metaboards will use new funding to power up the wireless charging market.
Oxford metamaterials start-up Metaboards has raised $5m in a round led by science equity investors Oxford Sciences Innovation (OSI).
Also involved in the round were RT Capital Management and Woodford Investment Management.
‘With the global wireless charging market set to surge over the next few years, our investment will help Metaboards bring their technology to market’
– WILL GOODLAD
The financing will be used to fund Metaboards’ continued expansion and to bring to market its patented, state-of-the-art wireless charging technology, which it enables through any non-metal surface.
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Metaboards was founded in 2016 by world-leading professors and authors from Oxford University focusing on metamaterials, currently one of the most dynamic scientific research areas.
Metamaterials are made up of compound materials such as plastics or metals that are arranged in geometric structures and have properties that are not found in nature.
“This investment will help us to grow the company and extend our capabilities across all wireless power technology platforms to ensure we offer universal capabilities,” said Metaboards CEO Nedko Ivanov.
“We already have interest from companies looking into licensing the technology in the next six to 12 months.”
According to a report from Grand View Research, the global wireless charging market is predicted to be worth $22.25bn by 2022.
“With the global wireless charging market set to surge over the next few years, our investment will help Metaboards bring their technology to market and accelerate the company’s pace of innovation,” said Will Goodlad, principal at OSI.
