Tel Aviv startup Power Paper, a producer of fully integrated, environmentally friendly microelectronic products, announced the completion of a $9 million financing round. Investors in the round included the Japanese Yashuda Trust, the Singapore based EDB Investment, the TASE traded Tadbik (TASE:TADB) and existing investors.
TheMarker first reported the Power Paper funding round in September of 2001. In March of 2001 Tadbik announced it would invest $0.5 million in the company in exchange for 1.25% of its shares, which sets Power Paper's value at $40 million.
The investment will help expand the company's market activity, particularly in the smart tags and medical equipment markets. It will also aid the company in its plans to expand its U.S. headquarters and to continue its R&D.
Power Paper develops, manufactures and markets thin and flexible microelectronics (TFM) based on the company's unique battery technology. The company's batteries, thinner than 0.5 millimeter, are made using regular printing technology that makes their printing possible on any thin and flexible backing, and in any shape and size.
Its major applications include smart cards and smart tags, single-use health and medical devices, and multimedia enhancements for entertainment items, novelties and packaging