Crocus Technology, a Sunnyvale, CA-based developer of Magnetic Random Access Memory (MRAM) technology for dense, non-volatile, high-speed, scalable memories, completed an €8m financing round.
Investors participating in this round include AGF Private Equity, CDC Innovation, CEA Investissement, Nanodimension, Sofinnova Ventures, and Ventech.
The new capital will be used to complete the production transfer of its 130nm MRAM technology to manufacturing partner Tower Semiconductor and for continued product development.
Magnetic Random Access Memory is suitable to a wide variety of telecommunication, networking, computing and handheld applications currently using SRAM and/or flash memory technology.
In conjunction with the funding, Crocus announced the appointment of Dr. Bertrand F. Cambou as chief executive officer and chairman of the company’s board of directors, effective immediately.
Cambou brings to Crocus more than 29 years of experience in the semiconductor industry.
According to a press release, his business and operational expertise will be instrumental in promoting the company’s growth as it brings MRAM products and technologies to the marketplace.