Abies Ventures Invests in Spin Memory’s $52 Million Series B Funding Round
FREMONT, Calif.--(BUSINESS WIRE)--Feb 5, 2019--Spin Memory, Inc., the leading MRAM developer formerly known as Spin Transfer Technologies, Inc., today announced that an additional investor, Abies Ventures (Abies), Tokyo, Japan, has joined its Series B funding round, along with existing investors Applied Ventures LLC, Arm, Allied Minds, Woodford Investment Management and Invesco Asset Management that were announced on November 11. Abies’ investment provides additional support for Spin Memory’s industry-leading MRAM IP and solutions to replace embedded SRAM and a range of other non-volatile memories.
“The addition of Abies in the funding round further proves the differentiation and advantages of Spin Memory’s MRAM IP offerings,” said Tom Sparkman, CEO of Spin Memory. “The fact that so many industry leaders around the world want to work with us on bringing MRAM technology to market indicates that we truly are enabling transformative change to the memory industry as companies look for new and exciting embedded memory applications for various markets.”
“In the age of big data and AI, and as we realize the end of Moore’s Law, innovation in memory is critical,” said Fuyuki Yamaguchi, managing partner at Abies Ventures. “MRAM offers amazing potential, and we are excited by its capability to offer faster and denser embedded memory required in cutting-edge technologies. We believe that Spin Memory’s MRAM technologies, along with its strong leadership team, will provide the innovation needed to break through the limitations of existing embedded memories.”
About Spin Memory
Spin Memory, Inc. (formerly Spin Transfer Technologies, Inc.) is the pre-eminent MRAM IP supplier. Through collaboration with industry leaders, Spin Memory is transforming the semiconductor industry by solving memory challenges vital for AI, ADAS, 5G, IoT and more. Spin Memory’s disruptive STT-MRAM technologies and products provide SRAM-like speed and endurance that can replace SRAM and ultimately DRAM in both embedded and stand-alone applications. For more information, please visit www.spinmemory.com.
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CONTACT: Justin Gillespie
The Hoffman Agency
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT INTERNET SOFTWARE SEMICONDUCTOR
SOURCE: Spin Memory, Inc.
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PUB: 02/05/2019 08:00 AM/DISC: 02/05/2019 08:00 AM