Nanochip is designing a range of removable, rewritable data storage products for use in future consumer electronics products that will require data storage capacities that exceed the physical limitations of NAND Flash memory in particular, the company claims.

"This investment led by Intel Capital will help Nanochip execute on its vision to bring the benefits of MEMS ultra-high-capacity memory to a variety of consumer applications," said Gordon Knight, Ph.D., president and chief executive officer of Nanochip. "We look forward to working closely with Intel on the development of these very high capacity storage chip products."

According to the company it has overcome several significant media physics obstacles and has now filed over 20 patents in the field.

"Consumer applications such as digital photography, music and video are opportunities where MEMS-based ultra-high-capacity memory can deliver unique advantages over traditional memory devices," said Keith Larson, director of manufacturing, memory and digital health sectors for Intel Capital. "Intel Capital, through its relationship with Intel, plans to work closely with Nanochip in developing these next generation devices."