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.
Last month Spin Memory announced that it has raised $22.8 million via a convertible bridge facility while the company gets ready to complete its Series B funding round. In 2018 the announced a licensing agreement with Arm (who's also an investor in the company).
Posted: Jul 19,2020 by Ron Mertens