Process control firm Tevet tacks on new funding

July 13, 2007 – Days after appointing a new CEO and president, Israeli metrology firm Tevet Process Control Technologies Ltd. says it has received $2.75 million in new financing, including support from the VC arm of customer Intel Corp.

The round, led by Israeli VC firm Eurofund with participation from Cipio Partners, Eurovestech, Goldman Investments Ltd., and Intel Capital — “we were particularly pleased to see Intel Capital and one of Tevet’s customers invest in this internal round,” said Ron Hiram, managing partner at Eurofund, in a statement — brings Tevet’s total VC fundraising efforts to $13 million, to develop its high-speed integrated metrology technology for semiconductor process control. The new funds will be used to expand into new “related product development initiatives,” the company said in a statement.

Ofer Du-Nour, newly named CEO of Tevet, stated that the company has seen 2x gains in its business from last year, when it released its Trajectory T3 product line, and this new investment infusion will enable the company aggressively “take advantage of the changing marketplace as our customers move to sub-65nm technology nodes and PECVD equipment moves to throughputs above 150wph.”


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