Crossbar, Inc., a Santa Clara, California-based developer of Resistive RAM (RRAM) technology, completed a $25m Series C funding.
Backers included existing investors Artiman Ventures, Kleiner Perkins Caufield & Byers, Northern Light Venture Capital and the University of Michigan and new investors SAIF Partners, Korea Investment Partners, CBC-Capital and Tao Invest.
The company intends to use the funds to complete manufacturing and licensing operations and bring the technology to market.
Founded in 2010 as a Kleiner Perkins Caufield & Byers incubation and led by George Minassian, CEO, Crossbar develops a new class of non-volatile resistive RAM (RRAM) memory technology (which can be stacked in 3D) designed to deliver up to a terabyte (TB) of storage on a single-chip the size of a postage stamp, with compatibility with standard CMOS semiconductor manufacturing processes.
As the exclusive holder of resistive RAM patents from the University of Michigan, the company has filed 110 unique patents, with 45 already issued, relating to the development, commercialization and manufacturing of RRAM technology.