Flash memory firm Anobit Technologies raises $17m

The start-up develops next-generation solutions for the growing market.

Semiconductor start-up Anobit Technologies Inc. has raised $17 million from Pitango Venture Capital and Battery Ventures.

Anobit develops enabling technologies for the large and growing flash memory market. The flash memory market has grown from $8.2 billion in 2001 to over $20 billion in 2006, and is projected to reach more than $25 billion in 2010, according to Gartner.

Anobit’s technology optimizes the cost and performance of flash memory devices, paving the way for the next generation of memory solutions. The company was co-founded by in 2003 CEO Prof. Ehud Weinstein, former founder of Libit Processing Technologies, which was sold to Texas Instruments, VP marketing Ariel Maislos, former founder of Passave Technologies, which was sold to PMC-Sierra Inc. (Nasdaq: PMCS), and CTO Dr. Ofir Shalvi, who also worked at Libit.

Battery Ventures general manager Scott Tobin and Pitango managing partner Rami Bracha will join the Anobit board.

Published by Globes [online], Israel business news - www.globes.co.il - on August 5, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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