NETANYA, Israel Kreos Capital (formerly European Venture Partners, EVP) has started fulfilling on its promise to invest $360 million in Israeli technology companies over the next three years. The European fund has been reported to have completed $37 million worth of capital in seven companies.
Several weeks ago, Kreos closed its $260 million Kreos III fund , which was led by Merril Lynch, and joined by the European Investment Fund, Deutsche Bank and many other organizations.
The companies backed are Deep Breeze, Iamba Networks, Xeround Systems, Power Paper, Celtro, Finjan and Civcom.
Power Paper (Petah Tikva, Israel) is perhaps the most interesting of the seven companies backed by Kreos. This anonymous company develops printable micro-powered devices and technologies. Power Paper says its core technology is being integrated into a host of applications.
The two primary markets in which Power Paper operates are skincare, where it offers PowerCosmetics microelectronic patches that promise rejuvenating effects and/or delivery of active ingredients; and the RFID sector, where it offers PowerID battery-assisted RFID label systems for asset tracking in supply chain and manufacturing.
Power Paper also offers battery and product production lines to authorized manufacturers through its PowerInks division.
Deep Breeze Medical Diagnostics (Or Akiva, Israel) developed an imaging device designed to visualize vibration energy emitted from the respiration process. The company is planning an IPO on NASDAQ.
Iamba Networks (Cupertino, California) provides GPON (Gigabit Passive Optical Networks) solutions for telecommunications equipment manufacturers.
Xeround Systems (Yehud, Israel) creates real-time database systems for large communications providers. The database is said to allow telecom companies make real-time use of data on the services being used by the customer.
Celtro (Red Bank, New Jersey) provides cellular backhaul switching systems for mobile operators.
Finjan Software Inc. (Netanya, Israel) develops content security solutions. Last year, Dr. Eric Benhamou, chairman of 3Com Corporation and of Palm, Inc., invested in the company through Benhamou Global Ventures, the amount of which was not specified. Cisco is also an investor in Finjan.
Civcom (Petah Tikva, Israel) develops and manufactures optoelectronic components, modules and sub-systems, targeting OEMs making 10 and 40 Gbit/s networking gear.