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Samsung invests $4M in wireless charging firm

Lucas Mearian | Oct. 3, 2013
Samsung Electro-Mechanics Division also signs agreement with PowerbyProxi to jointly develop new charging devices

PowerbyProxi's relationship with TE Connectivity is related to the development of wireless charging technology for industrial applications, such as windmills and other generators.

"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," said Michael Pachos, senior investment manager at Samsung Ventures America. "Our investment in PowerbyProxi is consistent with our strategy to work closely with established market leaders."


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