PowerbyProxi Announces $5m in Series C Funding; TE Connectivity and PowerbyProxi Announce Partnership to Develop Industrial Wireless Power Solutions

Tue Apr 16, 2013 9:00am EDT

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TE takes equity stake in PowerbyProxi; New ARISO Contactless Connectivity
Platform brings wireless power to new industrial applications
DARMSTADT,  Germany  and  PLEASANTON, Calif.,  April 16, 2013  /PRNewswire/ --TE
Connectivity (NYSE: TEL), a world industry leader in connectivity solutions, and
PowerbyProxi, (http://www.powerbyproxi.com) developer of the world's most
advanced and safest wireless power system, today announced a new partnership
combining TE's history and market position in the industrial connector space
with PowerbyProxi's expertise and intellectual property in wireless power.
PowerbyProxi today also announced it has closed a  $5 million  Series C funding
round. TE has taken an equity stake in PowerbyProxi and existing investor,  New
Zealand  venture capital firm, Movac, also participated in the round.

"Our proven innovation and miniaturization in the field of wireless power
transfer was compelling to TE and we are excited to work with the TE team on the
future of wireless power " said  Greg Cross, Executive Chairman of PowerbyProxi.
"This new round of investment demonstrates faith in the growth of this sector
and the milestones we have achieved. We will use the funds to grow our
international sales and customer support structures and to accelerate the
development of new technology platforms," said Cross.

TE Partnership Creates Innovation

The first outcome of PowerbyProxi's partnership with TE is the ARISO Contactless
Connectivity Platform, a miniaturized contactless connectivity solution, small
enough to be easily integrated into new applications for industrial machinery
and equipment. The new line of non-contact couplers, being sold and marketed by
TE, incorporates PowerbyProxi's Proxi-Wave technology, which is ideal for
miniaturization. The platform offers the smallest footprint solution available
for contactless power connectivity on manufacturing machinery and equipment for
sensor and control applications.  

TE is now manufacturing evaluation kits so its customers can test the hardware
in their own environments, alongside TE's field engineers. The ARISO Contactless
Connectivity system is 70% smaller than currently available systems and brings
the possibility of wireless power transfer to applications where it was
previously considered impossible.  

"Our investment in PowerbyProxi highlights our commitment to contactless
connectivity and to the development of solutions to help our customers with
their power connection needs," said  Ulrich Wallenhorst, chief technology
officer of TE Industrial. "PowerbyProxi possesses innovative design capabilities
in wireless power transmission that complement the TE Know How and technologies,
resulting in a proven working partnership. We look forward to working together
on expanding current products and developing new solutions."

The ARISO Contactless Connectivity platform was introduced at the Electronica
and SPS/IPC/Drives trade fairs in  Germany  in  November 2012. For more
information, visit  http://www.te.com/en/home.html

About PowerbyProxi

PowerbyProxi has developed the world's most advanced and safest wireless power
system. We give consumer electronics and industrial product designers the
freedom to wirelessly transfer efficient power in the most difficult places:
from a miniaturized receiver inside a AA battery to a mission critical solution
in the demanding and hostile environment of a wind turbine control system.  
PowerbyProxi has worked with customers on over 50 real world projects and built
its deep technical know-how by initially focusing on complex industrial
applications.  We have also created the first commercial wireless recharging
system capable of 3D power transfer, regardless of how the device is positioned
in the recharging unit.  PowerbyProxi is a spin-out of the University of 
Auckland's world-leading engineering department and holds an unrivaled patent
portfolio with 122 patents issued worldwide. For more information visit: 

About TE Connectivity

TE Connectivity (NYSE: TEL) is a  $13 billion  world leader in connectivity. The
company designs and manufactures products at the heart of electronic connections
for the world's leading industries including automotive, energy and industrial,
broadband communications, consumer devices, healthcare, and aerospace and
defense. TE Connectivity's long-standing commitment to innovation and
engineering excellence helps its customers solve the need for more energy
efficiency, always-on communications and ever-increasing productivity. With
nearly 90,000 employees in over 50 countries, TE Connectivity makes connections
the world relies on to work flawlessly every day. To connect with the company,
visit: www.TE.com.

TE Connectivity and TE connectivity (logo) are trademarks.  Other logos, product
and/or company names might be trademarks of their respective owners.

SOURCE  PowerbyProxi

PowerbyProxi: Alice Chan, Bird PR, +1-415-740-8174, alice@birdpr.com, or Adam
Vasquez, TE, +49 6151 607-1143, adam.vasquez@te.com+49 6151 607-1143

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