Additional Investor in Spin Memory’s Already Announced $52 Million Series B Funding Round

Spin Memory, Inc., MRAM developer formerly known as Spin Transfer Technologies, Inc., announced that an additional investor, Abies Ventures (Abies), Tokyo, Japan, has joined its Series B funding round, along with existing investors Applied Ventures LLC, Arm, Allied Minds, Woodford Investment Management and Invesco Asset Management that were announced on November 11, 2018 (see below).

Abies’ investment provides additional support for company’s MRAM IP and solutions to replace embedded SRAM and a range of other non-volatile memories.

“The addition of Abies in the funding round further proves the differentiation and advantages of Spin Memory’s MRAM IP offerings,” said Tom Sparkman, CEO, Spin Memory. “The fact that so many industry leaders around the world want to work with us on bringing MRAM technology to market indicates that we truly are enabling transformative change to the memory industry as companies look for new and exciting embedded memory applications for various markets.”

“In the age of big data and AI, and as we realize the end of Moore’s Law, innovation in memory is critical,” said Fuyuki Yamaguchi, managing partner, Abies. “MRAM offers amazing potential, and we are excited by its capability to offer faster and denser embedded memory required in cutting-edge technologies. We believe that Spin Memory’s MRAM technologies, along with its strong leadership team, will provide the innovation needed to break through the limitations of existing embedded memories.”

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$52 Million Series B Funding Round for Spin Memory
Total reaching $158 million for MRAM firm
2018.11.13 | Press Release
Spin Transfer Technologies Raises $70 Million After $36 Million in 2012
To accelerate commercial development of orthogonal spin transfer magneto-resistive RAM
2014.10.14 | Press Release