July 2020

Spin Memory (previously Spin Transfer Technologies) announced that it has raised $8.3 million in an extension to its Series B funding. The company's recent investors in the company participated in this round, out of which Allied Minds invested $4 million.

The new funding includes Arm, Applied Ventures (the VC arm of Applied Materials) and Abies Ventures. Spin Memory says that the additional funding will support the company's MRAM R&D.

Digitimes reports that Taiwan's Industrial Technology Research Institute (ITRI) has been developing spin-orbit torque MRAM (SOT-MRAM) for many years, and is now transferring this technology to local chipmakers in Taiwan.

According to Digitimes , ITRI has established a platform for its SOT-MRAM technology certification and trial runs on 8-inch wafers. The report does not detail which companies are licensing ITRI's technology.