Data analytics co Fundbox raises $17.5m
Matteris is developing a holographic storage system that raises information storage capacity more than 1,000-fold.
The Office of the Chief Scientist, Technion Entrepreneurial Incubator Company (TEIC) and its partners, Vertex Venture Capital, ProSeed Venture Capital Fund, and Shalom Equity Fund, Technion - Israel Institute of Technology and Izhak Nakar (a co-founder of Top Image Systems (TiS) (Nasdaq:TISA)) have invested $750,000 in start-up Matteris, which is developing an innovative holographic storage system.
Matteris is a joint venture by Dr. Shimon Eckhouse (founder and former chairman and CEO of Lumenis (Pink Sheets:LUME), and current chairman of Syneron Medical (Nasdaq:ELOS)), Marion Meir (a co-founder of Signature Technologies), and Prof. Eugene Kapinus, a researcher in laser induced chemical processes.
DataQuest figures from April 2002 indicate that the global high-capacity (over 100 gigabytes) information storage and sophisticated computer driver market will reach $8.1 billion by 2006.
Matteris is developing a holographic storage system for storing greater volumes of information than currently possible. The product is designed to save large and small enterprises money, and will later be adapted for home use. Enterprises currently use backup drivers that are no longer able to meet accumulated storage needs, and which need extremely costly space and equipment. Current information storage systems, such as CDs and magnetic tapes only exploit their surfaces for writing, and are approaching their theoretical information storage capacity limit. Enterprises are burdened by the maintenance cost of backups for the constantly increasing volume of information.
Holographic storage is an innovative optical method for information storage, which exploits a material's volume and not just its surface, enabling the storage of 1,000 times more information than other storage systems. Matteris has developed an innovative material for holographic information storage, based on innovative nanotechnology materials know-how. The material has several advantages: it does not require developing, can be exposed to daylight, and does not shrink when written on. It therefore permits the construction of storage systems with at least five times the storage capacity of other holographic systems, permits the reading of information before writing is finished, is more user friendly, and is much cheaper.
Published by Globes [online], Israel business news - www.globes.co.il - on December 27, 2004
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