STT-MRAM developer Avalanche Technology raised $23 million from Thomvest Ventures, Vulcan Capital, Rogers Venture Partners, and VTB Capital. The company also has a substantial debt facility in place with Horizon Technology Finance.

Avalanche say that they are now bringing their Spin-Programmable STT-MRAM (SPMEM) discrete products to Tier-1 OEMS and licensing their embedded solutions (AvRAM) to strategic partners. The company previous financing round was announced in July 2012.

In July 2015, Avalanche announced that it began to sample STT-MRAM chips. Avalanche's proprietary perpendicular magnetic tunnel junction (pMTJ) cells are manufactured in a high volume, low cost, standard CMOS 300mm process. Those first sample chips are 32Mbit and 64Mbit in size, and offer an industry-standard SPI interface built on a 55nm-node foundry process.

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