SOT-MRAM developer Antaios raises $11 million

SOT-MRAM developer Antaios raised $11 million from VCs and Applied Ventures, to accelerate its next-generation memory development and develop new strategic partnerships.

SOT-MRAM vs STT-MRAM bitcell

SOT-MRAM devices feature switching of the free magnetic layer done by injecting an in-plane current in an adjacent SOT layer, unlike STT-MRAM where the current is injected perpendicularly into the magnetic tunnel junction and the read and write operation is performed through the same path.

Everspin reports its financial results for Q2 2020

Everspin Technologies reported its financial results for Q2 2020. Total revenues reached $11.8 million, up 37% from Q2 2019, and the GAAP net loss was $1.3 million (compared to a net loss of $3.7 million in Q2 2019). Cash and equivalents at the end of Q2 2020 were $12.9 million.

Everspin 1Gb STT-MRAM chip photo

Everspin says it has extended its momentum into the second quarter, with record revenues of its 1Gb STT-MRAM product. Looking into Q3, Everspin says it sees a delay in new product introduction plans by customers, and so sees its revenues between $10 million and $10.8 million.

Spin Memory raised $8.3 million as it extends its Series B Funding Round

Spin Memory logoSpin 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.

Everspin reports excellent results for Q1 2020

Everspin Technologies announced its Q1 2020 financial results, - with revenues of $10.1 million, up from $9.7 million in Q4 2019 and $10 million in Q1 2019. Net loss was $1.7 million, down from $3.1 million in Q4 2019. Everspin expects the growth to continue in Q2 2020 as demand from data center applications continues to be positive.

Everspin 1Gb STT-MRAM chip photo

At the end of the quarter, Everspin had $14 million in cash and equivalents.

MRAM equipment maker Leuven Instruments raises $14 million

China-based semiconductor etching equipment maker Leuven Instruments raised $14 million in its series B financing round from several VCs. The funds will be used to increase the company's team and accelerate its R&D and market expansion.

Leuven Instruments LMEC-200 MRAM Etching System photo

For the MRAM industry, Leuven Instruments offers the LMEC-200 Magnetic-layer Etching Cluster system that integrates ICP etching, IBE etching, in-situ protection and more. In April 2020 the company closed its Series B funding round, raising $14.1 million from several investment firms.

Everspin announced a restructuring plan to reduced expense and achieve breakeven in 2020

Everspin Technologies announced that the company will undergo a restructuring plan designed to reduce annual operating expenditures and achieve quarterly cash flow breakeven this year. At the end of January the company will reduce its headcount - an approximately 15% reduction of the workforce.

Everspin also announced that it reaffirms its Q4 2019 revenue guidance of $9.3 million to $9.7 million.

Everspin announces its Q3 2019 financial results

Everspin Technologies announced its financial results for Q3 2019 - with revenues of $9.2 million (down from $11.5 million in Q3 2018) and a net loss of $3.7 million (down from $5.6 million in Q3 2018). Everspin says that it achieved record STT-MRAM revenues.

At the end of the quarter, Everspin had $14.8 million in cash and equivalents. For the next quarter, it expects revenues to be between $9.3 million and $9.7 million.

Everspin says revenues in Q2 will be lower than first estimated

Everspin Technologies says that revenues in the second quarter of 2019 (ending today) will be lower than first expected. In May Everspin said that they expect revenues to be in the range of $9.6 million to $10 million, but now it says revenues will be in the range of $8.3 million to $8.5 million.

Everspin 1Gb STT-MRAM chip photo

Everspin gives three reasons to the lower guidance - lower demand from China due to ongoing slowdown, lower data center investments which lowered the demand for enterprise server RAID controllers and a "broad-based reduction in turns business with distributors that occurred late in the quarter".

Avalanche Technology raises $33 million in a new funding round

pMTJ STT-MRAM developer Avalanche Technology announced that it closed its latest funding round led by Thomvest Ventures, having raised $33 million.

Avalanche currently brands its MRAM chips as P-SRAM (persistent SRAM) devices. The new funds will enable the company to develop higher-density P-SRAM devices. In addition, Avalanche says it will develop the higher densities of "persistent DRAM" required for the next generation of machine learning architectures.