Planning to position MEMS-based memory against flash in the near future, Nanochip lands another $14 million in funding, in part from Intel.
Nanochip Inc, a developer of microelectromechanical systems (MEMS) silicon data storage chips, has garnered addition funding from Intel Capital and said this week that it will complete development of its first ultra-high capacity storage chip prototypes later this year.
Intel was joined in the $14 million series C2 funding round by JK&B Capital, also a previous investor to Nanochip, and an additional, unnamed investment company.
The financing will allow Nanochip to complete its first prototypes and support design verification testing and limited customer sampling in 2009, the Fremont, Calif-based company said. Nanochip is targeting the computer, server, and consumer electronics markets with the chips.
“We are well on track to meet our original schedule of reaching full commercialization of our first product offering by 2010,” said Gordon R. Knight, Ph.D., CEO of Nanochip, in a statement.
Nanochip said its ultra-high-capacity storage chips will allow the storage of tens of gigabytes of data per chip, or the equivalent of many high-definition feature-length videos. The company claimed it can do so by coupling MEMS with nano-probe array technology that exceeds the expected limits of conventional lithography used in present semiconductor memory. Nanochip said its first products are expected to exceed 100 GB per chipset and will be priced at a substantially lower cost compared with flash memory, the company said, withholding specifics on pricing. Future Nanochip products are expected to reach terabytes of storage.
“Flash has become the technology of choice for a variety of consumer and business applications where cost-effective, non-volatile solid-state storage is a must,” said Keith Larson, VP and director of manufacturing, memory and digital health sectors for Intel Capital, in the statement. “However, as flash process technology scaling begins to approach its limits, Nanochip’s technology is well positioned to provide memory capacity with exponentially higher storage densities at a cost per gigabyte significantly below that of flash technology. New memory components, such as Nanochip’s, will enable new, innovative electronics devices and increase the performance of existing computing and other devices.”
Intel took part in a $10 million Nanochip funding round in 2006.
Since its start in 1996, Nanochip has been granted seven US patents for its technology, and has applied for 34 more.
