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European Tech Wire, November 16, 2005 Israel-Based Mempile Secures 8.5-Million-Euro Investment |
| Jerusalem -- Mempile Inc., an Israel-based provider of high-density removable storage technology, announced that it has raised approximately 8.5 million euro ($10 million) in third-round venture- capital funding. Jerusalem Venture Partners (JVP) led the round, with existing investors Israel Seed Partners and Millennium Materials Fund also participating. Mempile has developed an optical technology that increases the storage capacity of disks, such as DVDs, to 1 terabyte (1,000 gigabytes), allowing as many as 200 full-length movies to be stored on a single disk, compared with just one movie at present. To date, the company has raised more than 20.5 million euro in total venture-capital financing. Mempile CEO Avi Huppert said the latest round would allow the company to speed up R&D; and marketing efforts. |
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