June 15, 2014
Russian billionaire Roman Abramovich, owner of London’s Premiere League Chelsea FC, has invested $10 million in nanotechnology startup StoreDot, according to a report by the Wall Street Journal.
StoreDot, which is developing electronics based on bio-organic materials, wowed the world in April with its 30-second nano-dot prototype battery set for mobile phones.
The WSJ report says Abramovich’s private asset management company Millhouse carried out the investment in May.
StoreDot told the WSJ it plans to raise an additional $20-30 million in the coming months, and to use the proceeds to establish a US R&D center to take its developments to production level.
Fighting for Israel's truth
We cover what makes life in Israel so special — it's people. A non-profit organization, ISRAEL21c's team of journalists are committed to telling stories that humanize Israelis and show their positive impact on our world. You can bring these stories to life by making a donation of $6/month.
