Start-up UCLT Ltd. has closed a financing round in which Manuel Alba and Avigdor Willenz participated. Alba and Willenz founded Galileo Communications, which was sold to Marvell Technology Group (Nasdaq: MRVL) for $2.7 billion in shares.
UCLT founder and CEO Haggai Sitri declined to comment on the size of the current financing round, but IVC Online said it was $8 million. According to IVC, Lightspeed Venture Partners led the round, UCLT’s second. UCLT raised capital from Willenz and other investors in October 2004 at a company value of $4 million.
UCLT was founded two years ago as a spin-off from start-up UC Laser, which was founded by Israel Infinity Venture Capital managing partner Marshall D. Butler, formerly the chairman of. Nitzanim Venture Fund.
UCLT specializes in laser technology for the semiconductor industry. The company provides semiconductor fabrication facilities and supporting mask shops with solutions to correct, improve, and selectively optimize the photolithography masks that are used to imprint an integrated circuit design onto wafers in the manufacturing process.
The current financing round is intended to expand UCLT’s development activities. The company has 15 employees at its offices in Carmiel. Willenz is joining the company’s board following the round.
Published by Globes [online], Israel business news - www.globes.co.il - on January 4, 2006