Samsung invests in PowerbyProxi, forms strategic partnership

powerbyproxi

Samsung’s global investment arm – Samsung Ventures Investment Corporation has invested $4 million in PowerbyProxi. The announcement came this weekend and it marks the first investment for SVIC in the wireless power industry.

The investment will enable Samsung to work closely with the company that concentrates on solutions for consumers and industrial applications.

In a related note, Samsung’s subsbsidiary – Electro-Mechanics has also announced a strategic partnership with PowerbyProxi. The partnership will allow Samsung to use PowerbyProxi’s wireless power patent portfolio.

Samsung is also a part of Alliance for Wireless Power (A4WP) and most recently backed Qualcomm’s WiPower.