ISRAELI START-UP HOTBAR.COM, ANNOUNCES U.S. $3 MILLION INVESTMENT LED BY EUROFUND 2000 VENTURE CAPITAL FUND
Tel Aviv -- Nov. 28, 1999-- Hotbar.com, a Tel Aviv-based Internet start-up company, today received a US $3 million investment led by Eurofund 2000, announced Hotbar.com Chief Operating Officer Oren Dobronsky.
"The combination of hotbar.com and the internet connections of Eurofund have already brought us success in the first stage of the company's development," said Dobronsky. "Eurofund's commitment displays the confidence the investment community has in our efforts and our product."
"Hotbar.com is a very attractive investment opportunity for our fund," said Ilan Levin, Co-Manager of Eurofund 2000. "We are looking for quality companies that promise a significant impact on the future of the Internet and that can fit strategically with our Fund's partners. Hotbar meets this criteria."
The successful funding for Hotbar.com was led by the investment bank De-Kalo Ben-Yehuda.
ABOUT HOTBAR.COM
Hotbar.com, was founded in early 1999 by Oren Dobronsky and Gaby Karni. The company is based in Tel Aviv and currently has 15 employees . The company is dedicated to creating a dynamic, personalized browser to the Internet that allows surfers a more efficient and user-friendly browsing experience. Hotbar.com is expected to officially launch in December, 1999.
ABOUT EUROFUND 2000
Eurofund is a private equity venture capital fund specializing in Israeli and Israeli related early stage companies with innovative proprietary technology. Established in 1994, Eurofund's investors include DaimlerChrysler, Deutsche Telekom, Lockheed Martin Corporation, Bertelsmann Multimedia, ECI Telecom, RAD Data Communications and other financial investors. To date, the Funds under management have invested in some 20 companies including Idanit Technologies, Exactium Ltd., ART, Schema, Foxcom and Cyoptics.
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