Eggtronic, an innovative scale up in the power electronics and wireless charging sector, has announced the closing of a Series A investment.
Founded in 2012 in Modena, Italy, Eggtronic now holds offices in the USA, Italy and China. With this Round A, Eggtronic has gathered more than 13 million dollars in funding since inception.
“This Round A – explains Igor Spinella, CEO and founder of Eggtronic, a mechatronics engineer who is a former multi-award winning university researcher – will allow Eggtronic to exponentially develop the adoption of our patented technologies. The ambitious goal that drives, motivates and has always thrilled us is that we want to change the world.”
Eggtronic’s unique patented power conversion technology is set to revolutionise the power adapter and wireless charging markets. It delivers superior efficiency in a smaller form factor which will lead to a reduction of billions of tons of CO2 emissions every year.
“We’ve just launched Sirius on the retail market. Sirius is the smallest and most eco-friendly laptop charger in the world. This is just the start, the first important proof of what we are capable of. It is the result of our technology in a product that can be used by everyone, making mobile charging more convenient. It combines maximum performance, minimal clutter and energy efficiency” continues Spinella.
This Series A funding will allow us to grow our market share in the high efficiency miniature AC/DC power adapter market as well as to pursue new standards for wireless charging and technology licensing opportunities. Series A was led by Rinkelberg Capital Ltd, an investment office connected with the founders of TomTom N.V. Drawing on their network – first and foremost Mr. Mark Gretton, former CTO at TomTom who will serve as strategic advisor – Eggtronic has found the necessary resources to scale up and launch its technology in its core international markets.
“Our strategy is to support exceptional founders helping to achieve their goals with financial and operational support – commented Marc Slendebroek, CEO at Rinkelberg. With limited resources to date, Eggtronic has developed a disrupting technology and they achieved commendable results. With our support, Eggtronic is able to accelerate its expansion internationally”.
Being a well-documented convertible instrument, Series A “has set a new standard because of the innovative structure of the deal from a legal point of view” commented Federico Poletti from the Studio Luce and Lennaert Posch, senior partner at Rutgers & Posch and advisor to Eggtronic and Rinkelberg.
“We are happy. We have developed state of the art technology, supported initially by Italian business angels that have put their trust in us from the early days, and thanks to young passionate talent that have put their heart, mind and soul into Eggtronic. With Rinkelberg, we are entering a new phase of growth and maturity, where we have the resources to exponentially grow Eggtronic worldwide” concluded Spinella.
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