Crocus raised $45 million, hopes to start generating revenue towards the end of 2013

Crocus Technology have completed their Series D round of funding, raising €34 million (about $45 million). The company raised $80 so far (not counting the $300 million from RUSNANO towards a manufacturing fab in Russia). The company hopes to start generating revenue by the end of 2013 and become cashflow break-even by the end of 2014.

Crocus are rather busy. They will use the money to ramp up its manufacturing at Tower Semiconductors (in Israel) while also qualifying its Russian joint venture fab in Moscow. They expect first engineering wafers in the summer.

Crocus also plans to develop a 3rd-gen magnetic logic unit (MLU) technology together with IBM - to target smartcards. Finally, the plan to launch a magnetic sensor product line using the MLU platform. Back in 2012 we interviewed the company's chief marketing officer.

Posted: Jul 16,2013 by Ron Mertens