AKN Technology Bhd is joining software giant Microsoft Corp, US venture capitalists JK&B and New Enterprise Associates, and flash digital media manufacturer Lexar Media Inc to raise more than US$20mil in mid-2004 for Nanochip Inc, a US-based company involved in the research and development of micro-electro-mechanical-systems (MEMS) based data storage device used in the application of nanotechnology.
AKN executive chairman Datuk Ahmad Kabeer Mohamed Nagoor told StarBiz that the company would inject US$3mil into Nanochip, while the other investors would pour in the balance.
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