SiliconSystems Completes
Series A Funding With Miramar Venture Partners
HAWTHORNE,
Calif., April 4, 2004 -- SiliconSystems, Inc.,
a leading provider of solid-state storage solutions to the
Enterprise System OEM market, announced today that it has
closed a first round of venture capital funding with Miramar
Venture Partners. Miramar, located in Orange County, California,
has been a key investor in leading edge technology companies
with strong growth potential.
In announcing the investment, Michael Hajeck, SiliconSystems’
CEO and co-founder, emphasized that there is investment
capital available for the right story. “We succeeded
in raising financing because of our strong fundamentals
and our outstanding management team,” Hajeck stated.
“These are very difficult market conditions in which
to raise money and the market is highly selective. As a
result, we specifically targeted our fund-raising efforts
to Miramar because of their expertise in our technology
and their outstanding reputation in the venture capital
community. We are extremely pleased with our new financial
partner,” Hajeck concluded.
SiliconSystems was founded in 2002 by Hajeck and David Merry,
both well-recognized experts in the solid-state storage
industry. SiliconSystems designs, manufactures, and markets
general-purpose and application-specific storage solutions
developed and optimized for the unique requirements of the
Enterprise System OEM customer. The company focuses exclusively
on high performance and high reliability end-market applications,
including broadband data and voice networks, military systems,
flight system avionics, medical equipment, industrial control
systems, interactive kiosks and point-of-sales equipment.
SiliconSystems booked its first sales in the second quarter
of 2003.
With the initial round of funding, the company intends to
pursue key research and development initiatives and expand
its marketing and sales efforts. The company intends to
relocate its worldwide headquarters to Aliso Viejo in Orange
County, California, in early summer 2004.
About SiliconSystems
SiliconSystems, Inc. designs, manufactures, and markets
solid-state storage solutions based on its patented and
patent-pending SiliconDrive™ technology. The company
provides a comprehensive product line of solid-state storage
solutions with an exclusive market focus on the high performance
and high reliability Enterprise System OEM market. SiliconSystems
is based in Hawthorne, California.
SiliconSystems’
website/homepage address:
http://www.siliconsystems.com
SiliconSystems, Inc.
Gary Drossel
Tel: 949.900.9414
gdrossel@siliconsystems.com
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