Samsung Invests $4 Million On Wireless Charging Company PowerbyProxi

The world’s largest smartphone manufacturer has just made an investment on a New Zealand based company that creates wireless products. Samsung Ventures America has just made a $4 million investment on startup company PowerbyProxi. Both companies have formed a strategic partnership with senior investment manager at Samsung Ventures America, Michael Pachos, joining the PowerbyProxi board. Pachos said that “We believe that wireless power transfer is going to significantly change the way consumers use and interact with their devices at home and on the go.”

Wireless charging is still on its early stages with the technology expected to become widely available very soon. There are competing standards in this area with PowerbyProxi backing the Wireless Power Consortium which encourages the use of the popular Qi wireless charging standard.

PowerbyProxi has developed interesting chargers which consumers can use simply by placing a mobile device on top of a power box or power pad. The device charges itself regardless of the position it is placed. While it only has a short range it is a convenient way of charging a device.

This is Samsung’s first investment in the wireless power industry and is part of the PowerbyProxi’s third round of funding. The company now has already raised nearly $20 million in funding.

Greg Cross, CEO and chairman of PowerbyProxi, said in an interview that the investment made by Samsung will in no way interfere with their independence or product development roadmap. “We want to support as many consumer electronics and industrial components as we possibly can.” The company’s vision aligns well with that of Samsung. Samsung is known to provide components to several key players in the industry, including its rival Apple.

Samsung said that it has chosen to support PowerbyProxi due to its “expertise, track record and comprehensive patent portfolio.” The partnership allows Samsung to use the technology developed by PowerbyProxi in their consumer electronic and home appliances.

via venturebeat

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