Auckland spin-out PowerbyProxi attracts $4m from Samsung for wireless power system.
PowerbyProxi, a spin-out of the University of Auckland developing wireless power systems, has attracted $4m from smartphone manufacturer Samsung.
Making the investment through its venture unit Samsung Ventures Investment Corporation, the smartphone giant joined late into a $9m series C round for the New Zealand-based spin-out, following a $5m investment from energy and data firm TE Connectivity made earlier in the year.
Samsung and PowerbyProxi also announced that the two had entered into a strategic partnership to pursue the development…
