Samsung invests $4 million in PowerbyProxi for wireless charging
Trying to find a foot in the world of wireless charging, Samsung’s venture capital arm, Samsung Ventures Investment Corporation has announced an investment of $4 million. Michael Pachos from Samsung will join the PowerbyProxi’s board, making the investment first ever for SVIC’s in the wireless power industry.
PowerbyProxi focuses on consumer electronics and industrial applications and will help Samsung work closely with the company that is an active member of the Wireless Power Consortium (WPC). Samsung is a part of Alliance for Wireless Power (A4WP).
In addition to the investment, Samsung Electro-Mechanics has also formed a strategic partnership with the company that will allow them to license the PowerbyProxi wireless power IP.