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News & Events
Negevtech Closes its Fourth Funding Round
Rehovot, Israel, May 1, 2006 --- Negevtech LTD, a leading provider of patterned wafer optical inspection systems for the global semiconductor industry, today announced it closed its fourth round of funding to support its rapid growth and market proliferation. The round, which totaled US$36M, included direct investment by two new partners, Poalim Ventures and Wellington Partners, and a US$10M credit line from one of Negevtech's current partners, Plenus Technologies.
"The funding comes during a period of rapid growth for the company as we ship and support repeat orders for our Negevtech 3100," said Dr Arnon Gat, CEO of Negevtech LTD. "We targeted the funding to build our support infrastructure as our installed base grows and to increase our working capital in preparation for multiple repeat orders from current and prospective customers".
"The continued investment and expansion of our partnerships highlight the interest and confidence in our unique technologies and strong market potential," said Aaron Mankovski, Chairman of Negevtech, LTD. "The aggressive investment by our partners shows their commitment to Negevtech's success and will ensure ample resources to support its market proliferation."
Founded in 1999, the company now employs over 165 people globally and supports installations in eight leading memory manufacturers. Enabled by its patented Step&Image technology, the Negevtech 3100 high-resolution optical patterned wafer inspection system addresses the broadest range of yield control applications across its customers' micro-fabrication processes. The product dramatically lowers the cost of inspecting the most critical process steps while improving detection of yield-limiting defects.
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