Aira Closes $12 Million Seed Investment to Accelerate Adoption of FreePower® Wireless Charging

CHANDLER, Ariz., Aug. 3, 2021 /PRNewswire/ -- Aira Inc., the company redefining wireless charging with FreePower®, today announced a $12 million Series Seed funding round. This additional capital will accelerate the company's expansion into the automotive, enterprise, and hospitality sectors. It will also enable Aira — which was named FastCompany's #5 Most Innovative Company in 2021 — to expand its operational and engineering resources in preparation for the launch of FreePower® 2.0 by year's end. The company was recently granted it's first patents for FreePower® and has more than 80 patent assets related to its ground-breaking wireless charging methods.

Aira also announced the appointment of Axon (NASDAQ:AXON) Chief Financial Officer Jawad Ahsan to its board of directors. Ahsan brings more than two decades of global financial strategy experience and public company leadership to the company's board. Jawad currently leads Axon's global finance, corporate strategy, legal and IT organizations. He also serves as executive sponsor for the company's consumer-facing business. Prior to Axon, Jawad served as CFO for SaaS market intelligence firm Market Track, and spent 13 years at General Electric, most notably serving as CFO for its Healthcare electronic health record and enterprise software businesses.

"This new round of funding is a game changer when it comes to accelerating our capacity for innovation," said Jake Slatnick, co-founder and CEO of Aira. "With so many partnerships in our pipeline, a 2.0 version of FreePower® on the horizon, and Jawad having just joined our board, this is an inflection point for Aira."

"Aira is transforming the way people charge devices, evolving a technology that has failed to meet consumer expectations since it was first introduced," added Ahsan. "Jake, Eric, and the team have built a technology that will set the standard for the next decade and make consumers less beholden to cables, chargers, power outlets, and the stress of a dead battery during the day. I'm excited to be along for the ride."

Aira in Automotive

Current wireless charging technology is not built for moving environments, leaving consumers and automakers underwhelmed. In-car charging surfaces with FreePower®, on the other hand, are able to support devices shifting around while driving, multi-device charging, surfaces of any size, and firmware updates for future enhancements and compatibility. They can also deliver high-power charging while maintaining stringent safety and regulatory standards.

Aira announced a strategic partnership in December 2020 with Motherson Innovations Company Limited, the emerging technologies arm of the Motherson Group (NSE: MOTHERSUMI), a leading Tier 1 global automotive supplier, who also invested in the company. This joint project to develop, manufacture, and supply automotive-grade FreePower® wireless charging modules into vehicle interiors was recently nominated for a prestigious PACEPilot Award.

About Aira

Aira is setting a new standard for wireless charging with FreePower®, an elegant hardware and software solution that offers complete freedom of placement across surfaces. Founded in 2017 by Jake Slatnick and Eric Goodchild, the company's FreePower® technology is an elegant, adaptable solution that pushes long-standing boundaries to deliver on the fundamental promise of wireless charging – convenience. Built to work with devices operating on the Qi standard, FreePower® is compatible with all major Qi devices including those from Apple, Samsung, and Google. Aira is partnering with brands, OEMs, and technology suppliers across several verticals, including consumer electronics, automotive, furniture and hospitality, to make "wireless charging as it was meant to be" available everywhere. To learn more about Aira and FreePower^®, visit airapower.com. For media, please visit airapower.com/news.

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SOURCE Aira