Israeli start-up Nano-Or closed, 25 employees fired

The company previously raised $7.5 million from Jerusalem Global Ventures and STI Ventures.

Israeli start-up Nano-Or Technologies has closed down, and its employees have been laid off. Founded in 2000, Nano-Or had 25 employees in its offices in Lod and Santa Clara, California. Since its founding, Nano-Or has raised $7.5 million in two rounds from a number of investors, including Jerusalem Global Ventures' CommLaunch fund and STI Ventures, which has its headquarters in Amsterdam and a branch in Israel. STI manages $50 million raised from Benjamin (Benny) Steinmetz, Comverse Investments, Softbank Europe, and other investors.

Nano-Or CEO David Banitt was the founder of Exite Electro Optical and Tidex Systems.

Nano-Or developed a 3D microscopic system for semiconductor research and manufacturing. Nano-Or’s products were designed for use by laboratories, research centers, optical components manufacturers, and semiconductor manufacturers. The company’s products were based on a unique 3D camera technology capable of measuring objects at a resolutions and accuracy of nanometers. Investors in Nano-Or’s are now trying to find a buyer for the company’s intellectual property.

Nano-Or’s most prominent contract was with the US National Aeronautics and Space Administration (NASA).

Published by Globes [online] - www.globes.co.il - on June 1, 2005

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