May 3, 2007, Herzliya Pituach, Israel--Oree (Natanya, Israel), a start-up that is developing an innovative optical packaging solution for the Light Emitting Diode (LED) industry, today announced the completion of a $7 million series A round of equity financing. Genesis Partners and GIMV (Antwerp, Belgium), an investment company that manages assets of approximately $2 billion, participated in the round.

Previously, Genesis Partners participated along with private investors in an early seed financing round of approximately $800 thousand. Additionally, Oree announced that Yair Shoham, partner at Genesis Partners, Alex Brabers, partner at GIMV, and Eyal Harel, formerly the Co-President of Orbotech (Yavne, Israel), have joined the company's Board of Directors.

Oree's advanced lighting technology enables the production of more efficient and more flexible LED-based lighting systems for LCD screens. In addition, the company's technology significantly reduces the production costs of LED-based LCD screens, which are less common today due to their high pricing. The company's technology can also be utilized for general illumination in the automotive, home appliance, laptop, and home decorating markets.

For more information, visit Genesis Partners.