Floadia, a Tokyo, Japan-based embedded flash memory developer, raised 1.05 billion Yen in Series D funding.
As a first closing, Inabata & Co., Ltd., and Cypress Capital, underwrote an allotment of capital for a total of 850m yen. Japan Finance Corporation, Inabata & Co., Cypress Capital, underwrote an allotment of capital for a total of 850m yen. Including the 200m yen raised through venture debt (loan with stock acquisition rights) from Japan Finance Corporation in March 2023, the total amount raised in this round was approximately 1.05 billion yen.
The company will use the funds raised to strengthen sales activities promoting its current primary business, embedded flash memory IP cores, to semiconductor manufacturers, and to enhance developing ultra-low power consumption AI accelerator chips that utilize flash memory devices.
Established in 2011 by experienced engineers who had been developing embedded non-volatile memory for over 20 years at Hitachi, Ltd., and Renesas Technology (currently Renesas Electronics Corporation), Floadia licenses to semiconductor manufacturers as intellectual property (IP) the processes and circuit designs necessary for manufacturing embedded non-volatile memory (memory that retains its contents even when the power is turned off) used in microcontrollers, power semiconductors, sensors, etc. Its non-volatile memory technology consumes only 1/1,000,000 of the power required to write and erase data, as compared to competitors’ memory technologies, and has excellent high temperature tolerance, and requires only 1/3 of the additional cost to integrate into a chip. “G1,” the first flash memory IP developed by Floadia, has already been installed in automotive microcontrollers by domestic semiconductor manufacturers and has also been adopted by a foundry in Taiwan, where it is used as embedded memory in smartphone components.
The company has so far received approximately 3.9 billion yen from INCJ (Japanese government fund), UMC Capital (Taiwan), an affiliated company of major foundry UMC, Faraday Technology (Taiwan), a cutting-edge semiconductor design company, and Teijin Limited, a major Japanese chemical firm. Adding the amount raised in this round, the cumulative total raised to date is approximately 4.95 billion yen.
FinSMEs
11/10/2023