power paper logo 88.
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Power Paper Ltd., a provider of thin and flexible micro-power source technology and devices, raised $30 million in a fundraising round, the company said Tuesday.
Apax Partners led the financing with an investment of $16m. They were joined by Clal Industries and Investments and the Infinity Venture Capital Fund, which together invested $12m. Previous investor, Banc America Capital Partners, also participated in the round injecting $2m. in the company.
Amir Gal-Or, managing partner of Infinity said Power Paper intends to use the funds to accelerate sales of PowerCosmetics and to continue to develop additional applications for the company's power source.
Since its inception in 1997, Power Paper has raised $59m. in five rounds of funding - Tuesday's announcement being the largest to date. Its last financing, in which it raised $15m., was completed in July 2003.
The company has 80 employees working from its offices in Petah Tikva.
Separately, Jerusalem-based Double Fusion, a provider of in-game advertising services, said Tuesday it raised $10m. in a financing round led by Accel Partners and Jerusalem Venture Partners (JVP). The company also said it appointed Geoff Graber, the former general manager of Yahoo! Games, as its chief executive officer.
Double Fusion said the funding would enable it to move its headquarters from Jerusalem to the San Francisco Bay area and "aggressively market its services globally to reach larger publishers."
The company's technology is utilized by video and PC game publishers to place advertising within their games.