Aquired by Apple Inc in October 2017
PowerbyProxi is a spin-out from University of Auckland’s Engineering School, and is a product of nearly three decades of research by the wireless power faculty. PowerbyProxi is commercialising its technology in industrial and consumer applications.
Movac lead the initial investment round and participated in all subsequent rounds through to Series D. Other significant investors included Samsung Ventures and TE Connectivity. In 2017 the company was acquired by Apple Inc.
Apple senior vice president of hardware engineering Dan Riccio said “PowerbyProxi’s team would be a great addition as Apple works to create a wireless future. We want to bring truly effortless charging to more places and more customers around the world.”
PowerbyProxi CEO Fady Mishriki said “We are thrilled to join Apple. There is tremendous alignment with our values, and we are excited to continue our growth in Auckland and contribute to the great innovation in wireless charging coming out of New Zealand.”
Fady Mishriki & Greg Cross
Technology – Hardware