Aug 18, 2013

Everspin Technologies announced today that they closed a Series B financing, raising $15 million from venture capital firms including New Venture Partners, Sigma Partners, Lux Capital, Draper Fisher Jurvetson, and Epic Ventures. The money will be used to launch their first ST-MRAM products (hopefully by 2013).

Everspin ST-MRAM chips

Everspin also announced that they sold over 10 million MRAM chips. In the end of 2011 the company said they sold 4 million chips. They actually hoped to sell 5 million chips in 2012 which means that the current rate is actually lower than expected (if they only now reached 10 million chips) - but still this is an impressive milestone for MRAM technology (Everspin is still the only company shipping commercial MRAM chips).

Everspin announced their first ST-MRAM chip back in November 2012 with a promise to release it commercially in 2013. The EMD3D064M will be a 64Mb DDR3 device and select customers are already evaluation samples. Everspin is currently targeting the enterprise SSD market, to complement flash memory. The chips will be made in Everspin's 200mm production line in Chandler, Arizona.