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Everspin Technologies raises $15m Series B from venture capital firms

12 Aug 2013

hard disk storage dataSemiconductor company Everspin Technologies has raised a $15m Series B round from venture capital firms to support the launch of its magnetic RAM (MRAM) products.

The round was backed by New Venture Partners, Sigma Partners, Lux Capital, Draper Fisher Jurvetson, and Epic Ventures.

Everspin, which said that it is the only company in the world to successfully commercialise MRAM products, has achieved more than ten million shipments of products based on its MRAM technology.

New Venture managing partner Stephen Socolof said, “Everspin is breaking through to become a major supplier of the next generation non-volatile memory technology.

“We are excited as Everspin’s second generation MRAM, Spin-Torque MRAM, is poised to penetrate massive mainstream markets across various storage and compute applications.”

One of Everspin’s backers, Lux Capital, closed its third venture fund on $245m earlier this year, topping its $200m target.

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