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.
 
 

SOURCE JVP

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.