The data transfer technology spinout of UCLA has revealed it has raised $53m in funding since 2014, and has formed a strategic partnership with investors including Samsung and Foxconn.

Keyssa, a US-based wireless communication technology developer spun out from University of California, Los Angeles, has added more than $53m in additional funding, Reuters reported on Wednesday

Founded in 2009 as Waveconnex, Keyssa is developing a system called Kiss Connectivity that will be able to transfer large amounts of data between devices quickly and reliably using embeddable electromagnetic connectors, making wifi or wires unnecessary.

The company emerged from stealth in 2014, disclosing $47m in funding from diversified technology developer…