Everspin Technologies, a Chandler, AZ-based developer and manufacturer of magnetic RAM (MRAM), raised $15m in Series B financing.
Backers included New Venture Partners, Sigma Partners, Lux Capital, Draper Fisher Jurvetson, and Epic Ventures.
The company intends to use the funds to accelerate growth in the enterprise storage market and launch its Spin-Torque MRAM (ST-MRAM) products.
Led by Phil LoPresti, president and CEO, Everspin Technologies delivers MRAM products to broad applications in the data center and storage, energy and infrastructure, and automotive and transportation markets.
It has an intellectual property portfolio of more than 600 active patents and applications.