JERUSALEM -- Nanolayers Ltd., an innovative organic semiconductor company, announced today the closing of a seed financing round. The round was led by the Millenium Materials Technology Fund. Other investors participating in this round included Intel Capital and Summit Technology. Financial details were not disclosed. Nanolayers' ultra-thin film enabling technology constitutes an important advancement in the fields of organic materials and molecular electronics. The company has demonstrated the performance and scalability requirements necessary to enable a broad range of high-performance organic circuitry and devices. Nanolayers' organic semiconducting materials hold the potential for lowering microelectronic production costs and expanding device configurations. Initial applications may include flat-panel displays (TFT-LCD and OLED) and semiconductor ICs. "We are very excited about this funding round and by the participation of Millenium, Intel Capital and Summit," commented Ben-Tzion Spitz, CEO of Nanolayers. "We believe that Nanolayers could provide an essential building block to facilitate progress in the microelectronics industry, and we look forward to engaging with technology partners who can utilize this development for multiple applications currently available and those we have yet to envision." Nanolayers Ltd.