Crocus Technology, a Santa Clara, California-based supplier of magnetic sensors and embedded memory solutions designed with Magnetic Logic Unit™ (MLU) technology, secured $21M (€19M) in funding.
Backers included NanoDimension, Innovation Capital, IdInvest Partners, Ventech, Sofinnova, CEA Investissement, Rusnano, Industrial Investor Group and Kreos Capital (debt financing).
The company, which has raised $194M (€180.3M) to date, intends to use the funds to:
– deploy the strategy for its sensor product line in the key target markets: industrial, consumer electronics, automotive and solutions for IoT
– strengthen its commercial resources, including finalizing a distribution network in Asia and reinforcing the support team, and
– develop new designs to enrich the product portfolio with integrated sensor and smart sensor applications.
Founded in 2004 and led by Michel Desbard, CEO, Crocus Technology develops and supplies magnetic sensors and embedded memory solutions designed with Magnetic Logic Unit™ (MLU) technology, which aim to bring advantages to industrial, consumer electronics and automotive applications requiring high sensitivity, high temperature, low-noise and low-cost.
The company, which has offices in Grenoble and Rousset, France, co-owns Crocus Nano Electronics, a Russian-based advanced magnetic semiconductor manufacturing facility.