September 7, 2006 -- Kilopass Technology, Inc. has successfully concluded its third round of venture capital funding from lead investor, Pitango Venture Capital, along with U.S. Venture Partners, BlueRun Ventures and iGlobe Partners. This round of funding for $7.75 million will enable Kilopass to continue to develop innovative non-volatile memory (NVM) technology and to expand its customer base and market presence.
"Our continued success with silicon-proven customer designs in several markets has demonstrated the increasing industry awareness of XPM as an excellent choice for embedded non-volatile memory," said Bernie Aronson, CEO of Kilopass Technology. "We are pleased to have Pitango Venture Capital lead this round as a new investment partner and welcome its guidance as Kilopass continues to grow. We also want to thank U.S. Venture Partners, BlueRun Ventures, and iGlobe Partners for their continued support and participation in this round of funding."
"We are happy to contribute to the success of Kilopass and its innovative embedded non-volatile memory technology," said Aaron Mankovski, Managing General Partner of Pitango Venture Capital. "With several key customer wins, Kilopass has demonstrated an ability to accelerate the development of silicon chips for a wide range of leading-edge applications."
"Kilopass continues to gain recognition as a leader in embedded memory technology," said Arati Prabhakar, General Partner at U.S. Venture Partners. "With non-volatile memory becoming an increasingly important component on system-on-chip designs, Kilopass is poised to take a leadership role as a provider of secure, field-programmable non-volatile memory intellectual property."
Go to the Kilopass Technology, Inc. website to find additional information.