Jerusalemite startup Nanolayers has completed a $300,000 financing round from the Israeli venture capital fund Millennium Materials Technologies Fund, and from an American financial investment company, Summit.

Nanolayers is holding talks with additional potential investors.

The company is developing microelectronic technology based on breakthrough by by Dr Shlomo Yitzchaik in molecular layer epitaxy (MLE) technology. His patented nanotechnology was developed at his Hebrew University of Jerusalem laboratory.

As the company's website explains it, the company offers a solution to a key problem facing microelectronic engineers - bringing contemporary production methods down to the molecular level.

His technology can be used to grow single- and multiple-molecule layers from the gaseous phase for nanoelectronic applications, for instance the nano-fabrication of semiconductors and microelectronic parts.

The startup, established just last year, employs 10 people at its Jerusalem facility. Shareholders include Yitzchaik, and a Hebrew University company.