Nantero Inc., which uses carbon nanotubes (CNTs) in a variable resistance, non-volatile memory, or ReRAM, has raised an additional $5 million towards its Series D round of funding.
The second closing of the Series D round brings in two more strategic investors, one of which is Schlumberger Ltd., a supplier of technology to the oil and gas industry. It brings the total raised in the Series D to more than $15 million.
The fabless company, founded in 2001 and based in Woburn, Mass., had been making patient but slow progress working with a number of wafer fabs. In 2012 the company started to attract more attention and funds. Having changed its device structure from trench-based to a more scalable in-via structure, Nantero announced that two unnamed strategic investors had led a $10 million Series D round of venture capital. In addition, microelectronics research center IMEC, of Leuven, Belgium, announced a joint development program to make CNT non-volatile memories with critical dimensions of less than 20 nm, and senior IMEC executives expressed the hope that the memory could be deployed as a replacement for DRAM.
Cross-section of Nantero's carbon-nanotube variable-resistence memory structure. The structure is thought to be scalable to 5nm diameter.
Nantero also announced that Michael Raam has joined the company's advisory board. Raam was previously the CEO of SandForce Inc., a supplier of a controller IC for solid-state drives that was acquired by LSI Corp.
"Given my experience with non-volatile memory, I immediately saw that Nantero's memory could transform the industry," said Raam in a press release issued by Nantero. "This disruptive potential has been validated by the many partners who have chosen to work with Nantero on commercial development."
Nantero was highlighted by EE Times as a company to follow at the beginning of 2013. (See 10 top startups to watch in 2013)