, the venture capital arm of multinational giant
(Nasdaq:INTC), this week completed a seed investment in Israeli startup
, which is designing tiny organic semiconductors.
The companies refused to disclose the magnitude of the funding, but it is apparently between half a million dollars to a million.
Intel's being inside completes the seed round for Nanolayers, in which private investors also kicked in. The startup is now starting its first financing round, in which it hopes to score some $10 million.
Nanolayers was estabished in 2001 by Dr. Shlomo Yitzchaik, a lecturer and researcher in the field of inorganic chemistry at the Hebrew University of Jerusalem, together with the university's applications company.
Yitzchaik developed a nanotechnology he dubbed molecular layer epitaxy, or MLE, allowing engineers to work with uniform stable organic materials a hundredth of the size customarily used in the industry today.
His technology enables the creation of semiconductors based on carbon instead of silicon, at a thickness of 10 to 70 nanomillimeters. Intel's current technology can achieve a thickness of 80 nanomillemeters.
Use of carbon and other organic substances instead of silicon allows cheaper serial production without requiring sterile environments.
At this stage, the startup is operating out of a small apartment in Rehavia, Jerusalem, and has only three employees: its CEO, Ben-Tzion Spitz, Yitzchaik as chief scientist, and one workers, Michael Weinstein, its marketing coordinator. The company means to use its proceeds from funding rounds to employ a few more people.