TEL AVIV, Israel--(BUSINESS WIRE)--Aug. 1, 2006--Infinity Venture Capital announced today it is leading a US $4.5 million investment round in Applisonix, a medical aesthetics device company focused on developing and marketing a breakthrough hair removal solution utilizing ultrasound (HIFU) technology. Other investors include Infinity's technology incubator Maayan Ventures, Magari Limited, Cyventure Capital and Athena Cyprus, which is part of the Cyprus Funds and Kanit Group. Applisonix had a valuation of slightly more than US $6.5 million before this investment.
The financing announced today is earmarked to support the continuation of product development and the commencement of clinical trials. The hair removal market is estimated at $10 billion and continues to grow.
Applisonix's technology is likely to positively impact the lives of millions of men and women worldwide. Applisonix's technology offers an easy and painless means to get rid of unwanted hair for a long period. It doesn't burn the skin and works with all hair and skin pigment types. Alternatives such as shaving, waxing, chemical melting, plucking, electrolysis, lasers and intense pulse light treatments are soon likely to be bad dreams of the past," said Amir Gal-Or, Managing Partner, Infinity Venture Capital and Co founder of Partners500.
Sunday, August 13, 2006
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