Venture firms pump $24m in Israeli tech company

Aurum Ventures, Canaan Partners and Evergreen Venture Partners are among the firms that have invested in N-trig. The investment will be used to fund technological innovation and the development of new platforms.

A consortium of investors including Aurum Ventures, Canaan Partners, Evergreen Venture Partners and Microsoft has invested $24 million in N-trig, an Israel-headquartered computing technology company.

N-trig is a provider of DuoSense technology, which combines pen, touch and multi-touch in a single device allowing electronics manufacturers to launch products that allow direct onscreen manipulations, making products more interactive.

Following the capital infusion, the company will continue working with equipment manufacturers to create multi-touch notebooks and convertible computers for the mainstream market. The touch technology is currently used in Dell’s Latitude XT, HP’s TouchSmart tx2 and Windows 7, which is to be launched shortly.

The investment will be used to fund technology innovations, providing new product platforms to equipment manufacturers and to support independent software vendors in developing new applications. The company also intends to develop mobile platforms to enter new markets.

Established in 1987, Evergreen Venture Partners invests in early stage Israeli and Israel-related companies in the communications, internet and media, software and health care sectors. The firm manages assets of $650 million and has invested in more than 120 technology start-ups.

Canaan Partners manages assets of about $3 billion across eight funds. It invests in digital media, communications and mobility, enterprise and clean-tech companies. It is headquartered in Menlo Park, California, and has offices in Connecticut, India and Israel.

Aurum Ventures is a holding company managing Israeli billionaire Morris Kahn’s investments in Israel-related startups.