TAU spinoff StoreDot singled out as one of 10 hottest Tel Aviv-based companies
The September 2015 issue of the UK Wired magazine ranked Tel Aviv among the top 10 high-tech centers of Europe. The magazine featured 10 companies from each of the cities on its list, including, for Tel Aviv, the Tel Aviv University spinoff StoreDot, co-founded by Prof. Simon Litsyn of TAU’s Iby and Aladar Fleischman Faculty of Engineering and Prof. Gil Rosenman of the Fleischman Faculty of Engineering and TAU’s Center for Nanoscience and Nanotechnology. The startup has raised a total of $66 million from private investors to date and is partnering with smartphone makers for a planned 2016 launch.
The company has developed a battery that can be charged in a galloping one minute – 100 times faster than regular batteries, notes Prof. Litsyn. “Our battery will significantly improve the user experience. Today, people are experiencing difficulties from their devices ‘running out of juice’ during the day and find it hard to recover their work flow,” he says.
StoreDot provides a new feature for instant charging based on the use of bioorganic compounds to create ultrafast charge storage. “Our technology will allow users to charge fast at any point that has the right infrastructure, including our special chargers,” he said.
The technology could also help improve current smartphone and TV display technologies, flash memory, bio-LEDs, bio-lasers, drug delivery, food security and bio-labeling, among other applications.
Wired noted on its website that “Tel Aviv is where the money is. The startup nation became the exit nation in 2014, with Israeli tech sales and IPOs hitting $15 billion. Expect 2015 to be another huge year, with $910 million raised in one January week alone.”