Monday, April 17, 2006

Nanochip Secures $10 Million for MEMS Storage

Nanochip, a start-up based in Fremont, California, has secured $10 million of a $15 million Series C financing round for its development of micro-electro-mechanical systems (MEMS) silicon data storage chips for the consumer electronics market.

Nanochip is developing a new class of ultra-high-capacity MEMS-based storage chips. The company said these new chips -- with bit-densities enabling the storage of tens of gigabytes per chip -- use a nano-probe array technology that goes far beyond the expected limits of conventional lithography used in present semiconductor memory chips. Nanochip is designing a family of removable, rewritable data storage products for use in a wide range of future consumer electronics products that will require data storage capacities that exceed the physical limitations of today's semiconductor memory technology.

The funding was led by Intel Capital, a new Nanochip investor. Five million dollars of additional funding in this round is being left open for other interested investors. Also participating in the Nanochip C Round is JK&B Capital, a venture capital firm that led the B funding round.

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