PowerbyProxi, a company specializing in wireless power technology, has successfully secured $4.0 million in investment capital from investors. This funding round marks a significant milestone for the Auckland, New Zealand-based firm as it continues to advance its innovative solutions in the wireless power sector. The capital injection will support the company's strategic objectives and ongoing development efforts, reinforcing its position in a rapidly evolving market.
Founded in 2007 as a spin-out from the University of Auckland’s world-leading wireless power department, PowerbyProxi designs and develops a range of safe, high-efficiency, and high-density wireless power products. The company's vision, reflected in its name "Power by Proximity," anticipates a future where surfaces, rather than traditional sockets, will deliver power to all digital devices. Its headquarters are located in Freemans Bay, Auckland, driving innovation from New Zealand.
The $4.0 million in secured funding is intended to fuel PowerbyProxi's growth initiatives and accelerate its technological roadmap. The company plans to allocate the capital towards accelerating product development, enhancing its core technological capabilities, and strategically expanding its market presence across various industries. This investment underscores confidence in PowerbyProxi's proprietary technology and its potential to revolutionize how devices are powered, from consumer electronics to industrial applications.
This substantial financial backing positions PowerbyProxi to further solidify its standing in the evolving wireless power industry. The company is focused on leveraging this investment to drive continuous innovation and scale its operations, aiming to bring its vision of ubiquitous, seamless wireless power closer to widespread commercial reality.
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