Anobit announced this week that it has closed a new funding round of $32 million, raising the total funding of the company to over $70 million. This new investment round was led by Intel Capital and includes new funding from strategic investors and Anobit’s current investors.
Based in Herzeliya Pituach, Israel, Anobit is a provider of NAND flash-based solutions. Its patented MSP (Memory Signal Processing) technology significantly improves the endurance of multi-level cell (MLC) NAND flash to up to 50 thousand write cycles per bit and thus the cost structure of flash-based products and systems. Anobit’s products, ranging from flash controllers to enterprise-class solid state drives, are designed for leading NAND flash manufacturers, consumer electronics vendors and storage solution providers.
“Anobit is well positioned to help change the economics of the NAND-based technology landscape with a critical enabling technology for a new generation of performance and memory-intensive computing systems,” said Uri Arazy, director of Intel Capital in Israel.
The company will use the funding to expand its core business operations to meet surging demand for its technology and products.
“This funding will help accelerate the expansion of Anobit’s core business operations and enable the company to meet surging demand for its technology and products, used today by world leading NAND flash manufacturers, consumer electronics vendors and storage solution providers," said Prof. Ehud Weinstein, Anobit’s chief executive officer and chairman.