UBeam, a Santa Monica wireless power company, has raised $10 million in a Series A round led by Upfront Ventures.
Upfront Ventures’ Managing Partner Mark Suster will join the board, as will Katie McMahon, vice president and general manager at SoundHound.
The “Wi-Fi for energy” provider’s product charges electronic devices wirelessly by transmitting power through the air, freeing consumers from being chained to a power outlet. The company says the technology is both safe and cost-effective.
“We will start with mobile phones, but the potential is limitless – everything from hearing aids to wearables, laptops or flat screen TVs,” said Meredith Perry, uBeam’s founder and chief executive, in a statement. “UBeam literally has the power to untether the physical devices that have become indispensable to our daily lives.”
Existing investors Andreessen Horowitz, Mark Cuban and Ludlow Ventures also participated in the financing round.