Start-up DensBits raises up to $10m T1 The firm seeks to get flash memory to reach its potential strength.
(Israel Business Arena Via Thomson Dialog NewsEdge) Sources inform ''Globes'' that Israeli start-up DensBits Technologies Ltd. has $8-10 million in a financing round. Although founded a year ago, the company's founders have actually been working on its product for three years; DensBits is a classic garage company.
DensBits CEO Ilan Hen has a Ph.D. from the Technion Israel Institute of Technology. He previously worked for Intel Israel Ltd. in Haifa, which developed WiFi for Intel's Centrino processor. DensBits co-founder and VP products development Shmuel Levy also worked for Intel Israel. The third co-founder, algorithms manager Hanan Weingarten is an expert in information from the Technion.
Hen says that DensBits develops advanced flash memory solutions that enable them to fulfill their theoretical potential, thereby greatly boosting performance. "The main problem today is the amount of memory on a single cell. We can greatly boost this amount of memory," he says.
"Globes": What are you offering?
Hen: "A reduction in the drive system and an improvement in transistor performance, which will fulfill the memory potential on existing cells."
What is your target market?
"The flash market is growing rapidly, and is projected to reach $46 billion by 2011. This is the largest segment in the semiprocessor market, and will surpass the CPU market."
Who are you potential customers?
"Flash makers. We're talking about a limited number of players, such as Samsung and Hynix in South Korea, Toshiba in Japan, and secondary players like Micron technology Inc. in the US. It's not easy to set up a flash memory fab."
Who are your competitors?
"SanDisk Corporation (Nasdaq:SNDK) is a potential competitor, but competition is a good thing."
Published by Globes [online], Israel business news - www.globes-online.com - on December 2, 2007
Copyright of Globes Publisher Itonut (1983) Ltd. 2007
Copyright 2007 Globes, Source: The Financial Times Limited
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