Power Paper rolls up $3 million

Oct. 10, 2002 — Power Paper Ltd., a provider of thin and flexible micro power source technology and devices based in Kibbutz Einat, Israel, has raised $3 million in a fourth round of financing, according to a news release.

Bank of America Capital Partners and existing investors participated. The fourth round brings total financing to nearly $17 million. Previous rounds were in 1998, 1999 and 2001.

Power Paper’s energy cells are designed for use in smart cards and tags and for self-powered health-care patches for personal care, diagnostics and drug delivery, among other applications. The company intends to use its fourth round financing to accelerate sales, marketing and customer support efforts.

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