CAMBRIDGE, Mass., Oct. 1, 2013 /PRNewswire/ -- Endeavour Partners, a strategy consulting firm specializing in mobile and digital technology, announced today that its client PowerbyProxi, a wireless charging startup, has received a $4 million investment from Samsung Ventures Investment Corporation, the global investment arm of the Samsung Group. This investment is Samsung's first in the wireless power industry.
"After working with PowerbyProxi to develop its partnering strategy, I am thrilled that the company has received this significant endorsement of its wireless power IP portfolio," said Michael A.M. Davies, Founder and Chairman of Endeavour Partners.
"Our work with Endeavour Partners was extremely helpful to developing our partnership with Samsung, the world's leading consumer electronic brand," said PowerbyProxi CEO Greg Cross. "Endeavour Partners' expertise in mobile technology and its network of relationships have helped us become a leader in wireless power technology."
The PowerbyProxi wireless power charging solution allows consumers to charge smartphones and other mobile devices by simply placing them on a power pad. The system allows multiple devices to be placed on a single charger for wireless charging and allows flexibility in how the devices are positioned on the charger. The system offers convenience and eliminates the need for cables.
Samsung will also license PowerbyProxi's technology for use in its consumer electronics and home appliances. There are currently several wireless charging competitors promoting alternative technologies and standards. Samsung's investment in PowerbyProxi's system is an endorsement of the company's technology and adds additional support to its efforts to improve how consumers interact with their devices.
About Endeavour Partners
Headquartered in Cambridge, Massachusetts, Endeavour Partners is a strategy consulting firm with deep expertise in mobile and digital businesses and technologies. The firm helps clients anticipate the future, navigate opportunities and innovate for growth. Our clients include device manufacturers, service and infrastructure providers, wireless carriers, and companies impacted by the migration to mobile devices. Learn more at: http://www.endeavourpartners.net.
Headquartered in Auckland, New Zealand, PowerbyProxi is a technology company that is focused on providing real world Wireless Power solutions to the market. We believe in the future of Wireless Power and we think it is paramount to enable this technology in a way that maximizes safety, reliability, efficiency, and value. Learn more at: http://powerbyproxi.com
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SOURCE Endeavour Partners