General Motors investment arm has made its first investment in Israel

General Motors investment arm has made its first investment in Israel. General Motors Ventures has invested $ 5 million in new venture Powermat, which has developed a platform on which up to three electronic devices, can be loaded simultaneously and wirelessly.
Technology development will get accelerated with the help of capital raised by the company which will also invest to broaden its activity worldwide. As per the statistics of IVC $25 million has been raised by Powermat till date after including current round. Richards Stone and Ron Ferber are other investors in the company.60 people will be employed by Powermat at development center in Neve llan and Detroit
Ran Poliakine is the CEO and has founded Powermat in 2007. According Poliakine, the company offers technology “the transmission of energy that is safe, efficient, and not waste power.”
Powermat has exhibited its first product in January 2009, at CES. In early 2010, Poliakine told “Globes” that in 2009 the company sold about 750 thousand units in the U.S. Is expected to reach sales of 5 million units in 30 000 stores by the end of 2010.

Yesterday, Powermat and General Motors announced at CES 2010, which officially begins today in Las Vegas, who had signed a trade agreement that allows charging personal electronic devices wirelessly on the future of General Motors vehicles, from 2012. The first car to incorporate the Israeli start-up product will be electrically driven Volt.
Director of General Motors advanced Technical Center Israel and Head of General Motors Ventures in Israel, Gil Golan said that the company believes Israel as a major center of technological innovation, the very reason why Israel has been chosen along with Silicon Valley Center to head the activity of General Motors Ventures. He said that Israeli technology companies would receive substantial share of the funds activity. “We are searching for few other companies and anticipate that some of them will mature to investment in the near future,” he added.