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Micro Hard Drive Maker Cornice Gets $5 Million in Financing

Authored by Mark Hefflinger on July 14, 2006 - 12:06pm.
San Francisco - ATEL Ventures, a San Francisco-based provider of secured financing to emerging growth companies, said on Friday that it has committed $5 million in equipment lease financing to Colorado-based Cornice, a manufacturer of miniature hard drives for consumer electronics devices.
tags: Deals | Tech | CE | Investing | Storage | Tech Deals | Cornice | Investments | ATEL Ventures | CE Tech |

Cornice Develops Smaller Microdrives in 8GB, 10GB Capacities

Authored by Mark Hefflinger on January 3, 2006 - 8:00am.
Longmont, Colo. - Cornice, a developer and manufacturer of miniature hard drives for portable consumer electronics devices, has introduced a new line of smaller hard drives in 8GB and 10GB capacities. The company said its Cornice Dragon hard drives are 40% smaller than its previous models -- now about the size of a book of matches -- and will begin volume shipments in the first quarter of 2006. Cornice's hard drives are used in portable MP3 players and also in music cell phones, such as the Samsung SGH-i300.
tags: Cornice | Microdrives | 8GB | 10GB |

Micro Hard Drive Maker Cornice Raises $97 Million in Debt, Equity

Authored by Mark Hefflinger on December 14, 2005 - 10:31am.
Longmont, Colo. - Cornice, a developer of miniature hard drives used in consumer electronics devices, announced on Wednesday that it has raised $97 million in debt and equity financing. Canada's Caisse led the equity investment; previous investors VantagePoint Venture Partners, BlueRun Ventures and BA Venture Partners also participated. Simultaneously, the company entered a new lending agreement with Hercules Technology Growth Capital, which provided Cornice with debt capital. Coloradio-based Cornice develops 1-inch hard drives used in portable digital music players from Thomson/RCA and Rio, as well as in cell phones and personal storage devices. The new funds will be used to support development and manufacturing initiatives for the company's micro hard drives, as well as to expand marketing and sales efforts.
tags: Deals | VC | Equity | Debt | Cornice | Micro Hard Drive |

MP3 Player Microdrive Maker Cornice Countersues Rival Seagate

Authored by Mark Hefflinger on August 20, 2004 - 2:11am.
Longmont, Colo. -- Cornice, a maker of miniature hard drives used in consumer electronics like MP3 players, announced that it has countersued rival Seagate Technology in response to a patent infringement claim filed against Cornice in June. The Seagate suit alleged that Cornice is infringing on six Seagate hard drive patents, and asked the U.S. International Trade Commission to ban imports of the Cornice drives into the U.S. In its counterclaims, Colorado-based Cornice asked the Delaware District Court to invalidate Seagate's patents, and furthermore said that Seagate's lawsuit is baseless and anti-competitive, entitling Cornice to unspecified damages. Cornice's microdrives are used in MP3 players made by Rio and iRiver. Scotts Valley, Calif.-based Seagate in June released a 1-inch, 5GB hard drive that it is targeting at the market for portable music players.
tags: Cornice | MP3 Player | Microdrive | Rival Seagate |

Microdrive Maker Seagate Files Patent Suit Against Rival Cornice

Authored by Mark Hefflinger on June 25, 2004 - 7:35am.
Scotts Valley, Calif. -- Seagate Technology, a manufacturer of hard disk drives, announced this week that it has filed a patent infringement suit against Colorado-based rival Cornice, which makes the microdrives used in digital music players from firms including Rio and iRiver. Earlier this month, Scotts Valley, Calif.-based Seagate released the first of its own 1-inch, 5GB microdrives designed for consumer electronics. "We cannot allow the competitive advantage we've established through our long-term investment in R&D to be unfairly attacked by those who would illegally infringe on our technology portfolio and intellectual property," said Seagate president Bill Watkins. Seagate is seeking monetary damages and a permanent injunction that bars Cornice from making, using, importing, offering to sell, or selling the allegedly infringing products in the United States.
tags: Law | Seagate | Patent | Cornice | Microdrive Maker |

Microdrive Developer Cornice Raises $51 Million in Second Round

Authored by Mark Hefflinger on February 4, 2004 - 1:47am.
Longmont, Colo. -- Cornice, a developer of small hard disk drives for consumer electronics like MP3 players, announced on Wednesday that it has raised $51 million in its second round of venture capital financing. Participating in the round were new investors BA Venture Partners and GIC Special Investments, as well as previous investors CIBC Capital Partners, Nokia Venture Partners and VantagePoint Venture Partners. Colorado-based Cornice offers 1.5GB and 2GB disks that are one-inch in diameter, and have been used in MP3 players and other devices from consumer electronics firms including Philips and Samsung. The company, which has raised $81 million to date, will use the new funds to support sales, development and manufacturing initiatives.
tags: VC | Second Round | Cornice | Microdrive |