Company will use the funds to accelerate the development of its P-SRAM™ memory devices
FREMONT, California, May 28th, 2019 – Avalanche Technology, the leader in next generation MRAM technology, today announced the closing of over $33M in financing led by Thomvest Ventures.
With Avalanche’s current P-SRAM (persistent SRAM) devices having moved to production, the company will use the funds to develop higher-density P-SRAM devices for the Internet of Things, aerospace and defense markets. The funds will also be used to develop the higher densities of persistent DRAM required for the next generation of machine learning architectures.
“The completion of financing led by Thomvest Ventures will enable us to further capitalize on our position as the market leader in pMTJ STT-MRAM technology. Our persistent SRAM products consume extremely low power and are inherently radiation tolerant, well suited for the Internet of Things, aerospace and defense markets” said Petro Estakhri, President and CEO of Avalanche Technology. “Additionally, our persistent DRAM technology will be key in providing reliable data management needed in data centers, as well as enabling new architectures for machine learning.”
“We are excited to be partnering with the serial entrepreneurs at Avalanche as they disrupt the large and expanding memory market with their innovative magnetic RAM technology” said Umesh Padval, Chairman of the Board and venture partner at Thomvest Ventures. “With over 280 patents, a proven team, and a portfolio of low power, high endurance, and high density offerings, Avalanche is well positioned to become a leader in the industry.”
Avalanche’s second generation of high performance P-SRAM devices are available today:
Avalanche Technology Inc. is the leader in next generation Perpendicular STT-MRAM technology, accepted as the front-runner to replace traditional Flash and SRAM for unified memory architectures in future SOC systems, delivering high performance and low power at 55, 40 and 28nm with scalability to 22 and 14nm. With a proven STT-MRAM portfolio at multiple geometry nodes combined with an intellectual property portfolio of over 280 patents and applications, Avalanche Technology is delivering on the promise of enabling the next generation of scalable embedded unified memory architecture for use in GPUs, MCUs, DSPs, ASSPs and ASICs, making it the true “Next Generation MRAM Company”. For more information, visit us online at https://www.avalanche-technology.com.
Learn more about our Gen 2 P-SRAM memory devices HERE.
