Dov Moran's new startup InFone raises $20 million in first round

Msystems founder's latest endeavor to change the cellular world. It isn't saying how

Dov Moran, founder of Msystems, has created a new startup that's already raised a huge $20 million.

InFone's initial financing round tapped Genesis Partners, Gemini, an unnamed strategic investor and - Moran himself.

The money was raised through loans convertible into shares in InFone's next financing round.

InFone is creating new technology for cellular communications. The company is coyly declining to divulge more.

"InFone will create a revolution in the cellular world, which will impact all users of advanced electronic devices," Moran stated upon scoring the money.

Moran added that the investors chosen would bring the greatest added value to the startup.

"InFone has the winning combination of terrific potential in a gigantic market, experienced management, top-tier business partners and the most important thing, the best people, together with whom we will achieve unparalleled success," said Moran, adding that he's brimful with enthusiasm and anticipation.

Founded in 2007, InFone already has 25 employees and works in a development center in Kfar Saba, which is also where flash memory maker Msystems - now a unit of SanDisk - is located.

InFone is hiring and plans to expand to 50 people by year-end.

Moran had managed Msystems until the SanDisk takeover in 2006, for $1.55 billion.

He is joined at InFone by Ronit Maor, formerly the chief financial officer at Msystems, and Arnon Dinur, both of whom are directors in the startup.