Optical storage specialist DataPlay has received a further $55 million in funding for its revolutionary DataPlay optical-disk technology.

A DataPlay Digital Media disc can hold up to 500MB of data on a disk the size of a book of matches – offering an affordable alternative to memory cards.

DataPlay has now raised a total of $119 million. The latest cash injection comes from Eastman Kodak and Intel, who join a portfolio of investors that includes Olympus Optical, Imation, and the musician, David Crosby.

DataPlay plans to ship its product in the fourth quarter of this year, with disks retailing for between $5 to $10. At Macworld Expo, San Francisco, the company showed prototype devices that support its storage media, including a camera from Toshiba and an MP3 player from SonicBlue, earlier this year.

DataPlay has also caught the attention of the recording industry. Universal Media Group was one of its earlier investors, while EMI and BMG have hinted at plans to sell albums pre-recorded on DataPlay's disks for use in digital-music players. Rosetta Books announced similar plans to offer digital books on DataPlay discs.