Allied Minds (ALM); portfolio company Spin Memory raises $52m in Series B funding

Published on 12-11-2018 10:02:40

Spin Memory, one of ALM’s portfolio companies, announced $52m of series B funding. The funding comprises $29.0m from new and existing investors and $23.0m from the exercise of convertible securities by Allied Minds, Woodford Investment Management and Invesco Asset Management.

Spin Memory announced a commercial agreement with Applied Materials (Applied), which will create a comprehensive embedded MRAM solution. The company also announced a commercial agreement with Arm for the licensing of the company’s Endurance Engine design IP to address static random-access memory (SRAM) application in SoCs.

The company, formerly known as Spin Transfer Technologies, rebranded itself as Spin Memory to differentiate itself from its former business goals and objectives.

Spin Memory, one of ALM’s portfolio companies, announced $52m of series B funding. The funding comprises $29.0m from new and existing investors and $23.0m from the exercise of convertible securities by Allied Minds, Woodford Investment Management and Invesco Asset Management.

Spin Memory announced a commercial agreement with Applied Materials (Applied), which will create a comprehensive embedded MRAM solution. The company also announced a commercial agreement with Arm for the licensing of the company’s Endurance Engine design IP to address static random-access memory (SRAM) application in SoCs.

The company, formerly known as Spin Transfer Technologies, rebranded itself as Spin Memory to differentiate itself from its former business goals and objectives.

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