USB Type-C is a smaller, reversible USB connector that can transmit data, video, audio, data (USB 3.1) as well as provide charging power to many devices (USB Power Delivery or PD).
USB Type-C video modes (alternate mode): USB Type-C ports support adapters that can output different types of video such as HDMI, VGA, and DisplayPort, all from one USB type-C port on your computer or device.
USB Type-C power delivery (USB PD): USB Type-C power delivery is bi-directional, so a device can either send or receive power. This power can be transferred at the same time the device is transmitting data across the connection.
For more information about USB Type-C see http://www.usb.org/developers/usbtypec/.