Israeli start-up Silentium Ltd. has raised $1.8 million out of the $5 million target. The company raised the funds from Naor Group Ltd., a single purpose fund set up to invest in specific companies identified by Canadian fund SMI Ventures, as well from existing shareholders. It will use the proceeds as working capital to expand its global marketing operations, and continue its R&D activity.
Silentium is developing a technology called a Silence in a Chip for the optimal reduction of noise from various sources. The company has launched a solution for noise control in telecommunications boxes and servers used in the small and medium-size business sector.
According to IVC Online, Silentium was founded in 1997 and it has raised $5 million to date from Lewis Trust Group Development Capital, GM-UMI Technology, and others. Silentium's solution combines active and passive noise reduction methods that function as a substitute for a "server room" and are designed primarily for small and medium-sized businesses, laboratories or educational institutions. The company's product enables business to effectively control noise and heat generated by server activity.
Silentium CEO Jossef (Yossi) Barath said, "There is a significant noise problem for manufacturers and users of IT equipment. By using our Spacial Active Noise control solution, which is implemented at the source of the noise, Silentium is addressing mass volume markets and assists OEMs in complying with customer needs and with government directives concerning noise."
Published by Globes [online], Israel business news - www.globes.co.il - on December 20, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007