InPhase Technologies Raises $6.3 Million in Second Round of Funding; Hitachi Maxell Joins as Strategic Investor
Summary
InPhase Technologies, the leader in holographic data storage development, today announced that it has closed the first segment of its projected $15 million second round of funding. "With the addition of Hitachi Maxell as a strategic investor, we believe that the intellectual and financial capital that has been secured in this round will help move us toward our ultimate goal." We feel that the essential building blocks are in place for InPhase to make a strong market introduction of the first holographic data storage products." The explosive growth of digital video and still cameras, combined with smaller form factors for devices such as handheld computers, are positive indicators for InPhases Tapestry system. InPhase originally developed the breakthroughs that led to its current holographic data storage system, Tapestry, as part of the physical sciences research group at Bell Labs, in 1997.