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Nanochip Closes $14 Million Financing Round To Complete Prototype Development of Advanced Data Storage Chips

Nanochip, Inc. is developing advanced microelectro-mechanical systems (MEMS) silicon data storage chips. The company’s latest round of investors included Intel Capital and JK&B Capital. Nanochip’s initial products are expected to exceed 100 GB per chip set, reaching terabytes (TB) in the future, and at significantly lower costs compared with current flash memory solutions. Nanochip’s $14M financing will be allocated to complete the development of the company’s initial prototypes later in 2008, support design verification testing, and execute targeted customer sampling in 2009.

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