Drayson Technologies raises £8m Series B round to progress commercialisation of FreevoltTM RF harvesting technology
11th August 2016
Company aims to power Internet of Things devices using recycled wireless energy
11.05.16 – Drayson Technologies Limited, the leading developer of radio frequency (RF) harvesting technology today announces the completion of a Series B funding round of £8m led by existing investors Lansdowne Partners and Woodford Investment Management. Existing investors, new investors and staff participated in the round, which will provide funding for the development and commercialisation of the Company’s Freevolt technology.
Freevolt is a new, patent-pending technology developed by the Company that recycles wasted RF energy from the carrier waveform of radio transmission networks (cellular & Wi-Fi) in order to power low energy electrical devices such as sensors, beacons and wearables. The Company is providing Freevolt and the associated technology stack under licence to its customers as well as developing its own products such as the recently launched CleanSpace Tag; the world’s first personal air pollution smart sensor powered by Freevolt.
The Company has raised over £26m to date and this most recent round of investment will enable it to develop and deploy Freevolt powered products in smart city, digital health and IoT applications.
Lord (Paul) Drayson, Chairman & CEO, Drayson Technologies, said: “Since the launch of our Freevolt technology last year we have seen tremendous interest in its application to power the growing numbers of connected devices being deployed as the third wave of internet connectivity gathers momentum. This investment will enable us to capitalise on this opportunity and position the Company to be at the forefront of powering the Internet of Things.”