The funding round has been supported by Avalanche's current investors
including Vulcan Capital, Sequoia Capital, Bessemer Venture Partners,
Thomvest Ventures and Qualcomm Ventures. The round also included VTB
Capital (Moscow, Russia). VTB Capital has taken part in numerous deals
instrumental in attracting investments to Russia.
It was not disclosed whether there is a Russian relocation element to the deal although a VTB Capital representative is joining the board of directors of Avalanche.
working with multiple 300-mm fab partners and OEM customers on
production of its first generation SPMEM embedded and stand-alone
products processed in CMOS at geometries of 65-nm and greater.
customers can choose to embed SPMEM technology into their existing and
next generation system-on-chip solutions as well as design in
Avalanche's branded stand-alone discreet devices enabling customers to
essentially replace several memory types with one common memory
interface, technology," said Michael Ofstedahl, vice president for
business development for Avalanche, in a statement.
has an extremely promising combination of a cutting-edge proprietary
technology for high-volume markets and a seasoned and very ambitious
team of industry veterans who were able to build very successful memory
companies in the past, taking them from scratch to billion dollars in
revenues and IPO," said Aidar Kaliev, global head of venture capital at
VTB, in the same statement.
Russian investors have a penchant for
MRAM technology. In May 2011, Crocus Technology Inc. (Santa Clara,
Calif.) announced it would receive an investment of about $300 million
in a round led by Rusnano, the Russian state-owned nanotechnology fund,
with most of the money earmarked for the creation of a manufacturing
joint venture in Russia.
That's indeed interesting. I had phrased my question in the wrong way, I was intrigued by Crocus going a non-foundry route, similar to Everspin, but still different since it is a JV between Crocus and Rusnano.
Yes, it was like a highly unreliable light tank! but that was pretty much a norm in Eastern Europe these days...East German Traubants were made out plastic, you could throw an apple at it and the body would bent ;-)
The building was built in 1929 and has only seen auto and military fabrication. It has been shuttered since bankruptcy in 2002 except for a partial occupation to build some Renaults in 2005 before going bankrupt, again. State of the art...
thank you @xprmntl..."former auto plant “Moskvich” in Moscow"...this is very nostalgic for me! my dad owned a "Moskvich", since most people are not familiar with it just a single comment: "Moskvich" was one of the early East European cars in the 50-ties...glad to see that MRAM memories with be manufactured now (so it seems, the link still talks about the future)...Kris
Interesting..." In May 2011, Crocus Technology Inc. (Santa Clara, Calif.) announced it would receive an investment of about $300 million in a round led by Rusnano, the Russian state-owned nanotechnology fund, with most of the money earmarked for the creation of a manufacturing joint venture in Russia"...anyone knows whether this $300M fab has been built? Kris
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