Crossbar, Inc., a Santa Clara, California-based developer of Resistive RAM (RRAM) technology, completed $35m Series D funding round.
The round was led by new investor Tyche Partners with participation from Artiman Ventures, CBC-Capital, Cheerful Link Ventures, Correlation Ventures, Kleiner Perkins Caufield & Byers, Korea Investment Partners, Northern Light Venture Capital, Oriza Holdings, SAIF Partners, Tao Invest and the University of Michigan. In conjunction with the funding, Tyche Partners Founder and Managing Partner Weijie Yun joined Crossbar’s board of directors.
The company, which has raised $85m to date, intends to use the funds to continue the commercial ramp of its non-volatile (NVM) memory technology.
Led by George Minassian, CEO and Co-Founder, Crossbar provides RRAM technology, which delivers terabyte storage on a postage stamp-sized chip and tailoring for a broad range of applications, from embedded memory on SOCs for wearables, to high density SSDs for cloud data centers.
Emerged from stealth-mode in August 2013, the company is currently working with beta customers for its embedded memory solution, targeted for production in 2016.