New York-listed consumer goods company Procter & Gamble, which makes Duracell batteries, has invested an undisclosed amount as part of a larger strategic partnership with Powermat, an Israel-based company making wireless charging pads for mobile devices.
The joint venture between Duracell and Powermat is expected to start next year.
Stassi Anastassov, Duracell president, said: "Several decades ago, Duracell was a pioneer in a new revolutionary product category, alkaline roundcell batteries.
"Today it is a multi-billion dollar category. In a not too distant future, we expect wireless power solutions to eliminate the hassle of multiple cords and chargers, creating a major growth opportunity."
In January, US-based car maker General Motors’ corporate venturing unit invested $5m in Powermat as its first deal outside of America.
As part of its investment, GM Ventures agreed exclusivity on the use of Powermat products in its cars for the first year and is expected to have them in its electric Chevrolet Volt vehicle by next year.
Venture capital firm Navitas Capital, which raised its first fund in 2009 including contractor Webcor Builders as a limited partner, has Powermat as one of its clean-tech portfolio companies.