Mempile Raises $10.5 Million in Funding
Appoints Dr. Kanji Katsuura to Chairman of the Board
NEVE ILAN, Israel, Nov. 15 /PRNewswire/ -- Mempile Inc., a leading provider of high-density, removable storage technology, announced today that it has secured $10.5 million in Series C Funding. The round was led by JVP (Jerusalem Venture Partners) with existing investors Israel Seed Partners, Millennium and Alta Berkeley also participating. The capital will be used to further broaden the company's R&D and marketing activities in the US and Japan. Mempile also announced the appointment of Dr. Kanji Katsuura to Chairman of the Board. Dr. Katsuura formerly served as the CTO of Memory-Tech Corporation, Japan's largest independent disc replicator, and was instrumental in developing the HD DVD standard. Mempile has developed an embedded consumer storage technology that enables discs to store as much as one Terabyte (1,000 gigabytes) of content. Mempile's technology, together with anticipated technical improvements already underway in the disk drive industry, will make it possible to record an unprecedented amount of data onto CD-ROMs and DVD-ROMs. "Mempile's technology will make a significant impact on the entire storage industry," said Avi Huppert, CEO of Mempile Inc. "This latest round of funding provides Mempile with financial stability to accelerate our R&D and marketing efforts and make the concept of consumer terabyte technology a reality." "JVP has funded a number of companies on the cutting edge of next-generation storage technology, and we're very excited about Mempile's prospects for transforming the consumer storage arena," said Glen Schwaber, General Partner for JVP. "Mempile has created a breakthrough core technology to solve a number of pressing needs in archiving and storage, and expanding their presence in the U.S. and Japanese markets will be extremely valuable for the company." Mempile's technology was designed by a group of interdisciplinary scientists with unique expertise in chemistry, materials and laser optics. The company's discs will enable secured data burning with a much longer life cycle than current solutions. Mempile was founded by its current CTO, Ortal Alpert in 2000 and has R&D centers in Neve Ilan, Israel and Boulder, CO. For more information visit: http://www.mempile.com About Mempile Founded in 2000, Mempile Ltd. is a developer of next-generation, high-capacity optical storage designed to hold up to one Terabyte (1,000 Gigabytes) of information on a single cost-effective removable disc with a size akin to today's DVDs. Mempile's technology will yield unique solutions for the consumer audiovisual storage, high-definition TV, and professional data archiving markets. Mempile is headquartered in Israel, with a drive development center in the U.S. and a business development unit in Japan. About JVP JVP is a leading venture capital firm focusing on investments in early stage companies in the enterprise software & networking, semiconductors & components and communications & mobile infrastructure sectors. With over $680 million under management, and offices in Jerusalem, New York, London, Tokyo and Shanghai, JVP leverages its international presence, vast expertise and substantial capital base to build companies with the potential to shape and dominate global markets.
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