Multinational tool company Stanley Black & Decker has invested in Israeli wireless charging company Humavox Ltd., the companies announced on Tuesday. The amount of money invested was not disclosed, and is part of a planned $10 million funding round, in which Stanley Black & Decker is the lead investor.
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As part of the deal, the companies are set to collaborate on adding Humavox’s wireless technology to a broad array of Black & Decker products and technologies, the companies said.
Founded in 2010 and based in central Israel, Humavox’s technology enables wireless charging in everyday objects through the transmission of radio frequency waves. “Humavox provides seamless wireless charging experiences, without changing user’s usability habits, and the advanced integration required for wireless charging across various apps and products,” Omri Lachman, CEO of Humavox, said in a statement.
Stanley Black & Decker is a U.S. manufacturer of industrial tools, hardware, and storage solutions. Among the company’s brands are Stanley, BLACK+DECKER, and Dewalt. The company employs 550 people in its Israel development center and in two manufacturing facilities in the country.