Investment in Wireless Power Startup Tops $2M and Key Hires Made

COLUMBUS, Ohio, April 11, 2017

Nikola Labs, a pioneering far-field wireless power company, recently closed on additional investment, bringing the total capital raised to over $2 million. The new funds will be used to augment Nikola Labs’ engineering team and step up business development efforts ahead of releasing INDRA, a revolutionary wireless power receiving chip developed with Skyworks Solutions and Texas Instruments, which will be production ready later this year.

Nikola Labs is commercializing an energy harvesting and wireless power technology developed by Dr. Chi-Chih Chen, an Associated Research Professor at OSU’s ElectroScience Laboratory. The technology has wide applicability, including the provision of reliable power to Internet of Things (IoT) devices allowing them to operate perpetually and completely free of wired connections.

The investment round was managed by Ikove Venture Partners and led by a European investment group. In addition, Nikola Labs also announce two key hires:

  • Jim Dvorsky, Director of Product Development, is a recognized problem solver that brings over 30 years of experience at Battelle. He is a four-time winner of R&D 100 Awards, Battelle’s inventor of the year in 2006, and is a named on 35 issued and pending U.S. patents. Jim holds both a bachelor and master of Electrical Engineering from Carnegie Mellon University.

  • Tad Dritz, VP of (Business) Development, is an accomplished business development professional that has helped dozens of early stage companies raise funds, identify industrial partners, research markets and with early deployments. Tad holds an MBA and MS in Natural Resources from University of Michigan and BS in Chemical Engineering from Ohio University.

New investors join initial funders Ikove Venture Partners and Providence Holdings,as well as Proton Enterprises of Naples, Florida, LOUD Capital of Columbus, and several individual investors.

CEO Will Zell remarked:

“Closing on new funding is another important step for Nikola Labs and our goal to build the world’s best wireless power company. Bringing Jim and Tad on full-time significantly deepens our capability to introduce wireless power into the marketplace and execute on projects.”

About Nikola Labs
Nikola Labs is a wireless power company with an advantaged far-field technology that converts radio frequency (RF) energy into usable direct current (DC) power. We are a devoted and capable team that includes world-renowned electrical engineers and distinguished business leaders united by a common goal – advancing wireless power into the marketplace. nikola.tech

Media Contact:
Michelle Moore, media@nikola.tech, +1.614.633.8124