World Milestones in Wireless Power Standardization, Commercialization
Hong Kong, 14 July 2011 – ConvenientPower today announced the completion of Series B financing. Terms of financing were not disclosed.
The lead investor was Matrix Partners China, a leading China focused venture capital firm.
David Su, Managing Partner at Matrix Partners China, commented, “Matrix Partners China is extremely pleased to be involved with ConvenientPower, a widely recognized leader in the rapidly growing field of wireless power charging. With its strong intellectual property position and commercialization milestones, ConvenientPower is a major innovator in wireless power charging which is transforming the way we live, work
and play with electronics. Our new partnership is a very exciting milestone.”
In addition to Matrix, new investors included Mitsui & Co. Global Investment Ltd., a leading Japanese global investment group. Existing Series A investor, Qiming Venture Partners, a leading China focused venture capital firm, also participated in the latest round. Sangyo Sosei Advisory acted as an arranger for the financing.
ConvenientPower is a global leader in wireless power charging intellectual property and productization. It coarchitected “Qi”, the only universal standard for compatible wireless charging in the world and is co-founder of the Wireless Power Consortium. ConvenientPower launched the first Qi wireless power products in the market. It innovates Qi standard and customized non-Qi wireless charging solutions across a wide range of applications. Its headquarters are in Hong Kong.
About Matrix Partners China
Affiliated with Matrix Partners, a premier U.S. venture capital firm, Matrix Partners China is a leading venture capital firm that was founded by David Zhang and Bo Y. Shao in 2008 to focus exclusively on investments in China. The firm invests in TMT, as well as consumer, services, healthcare, and cleantech sectors, and its investments range from US$1 million to US$25 million. Matrix Partners China has offices in Beijing and Shanghai.
About Mitsui Global Investment
Mitsui Global Investment (MGI) invests in a wide range of opportunities for various types of technology firms with a special expertise in helping to build their businesses globally. Over the years, they have invested in breakthrough technologies in the communication, software, information series, life science, and medical device industries and accelerated their growth. Mitsui & Co. Global Investment Ltd. based in Tokyo is the HQ for Mitsui & Co.’s global venture capital operation, with its US arm Mitsui & Co. Global Investment, Inc. located in Silicon Valley and New York, they manages more than $500 million in venture capital. Its parent, Mitsui & Co., Ltd. is one of the largest and world’s most diversified and comprehensive trading, investment, and service enterprises in Japan.
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