Crossbar, a start-up based in Santa Clara, California, raised $35 million in Series D funding for its Resistive RAM (RRAM) technology.
Crossbar said its RRAM technology is based on a simple device structure using CMOS friendly materials and standard manufacturing processes. It can be stacked in 3D, making it possible to combine logic and memory onto a single chip at the latest technology node. Crossbar RRAM’s low power, small size, high performance and low latency make it an ideal memory solution for a wide assortment of applications, from very small devices such as wearables and connected devices for the Internet of Things (IoT), to very high capacity, very fast SSDs in cloud data centers. Crossbar is currently in beta testing.
Crossbar’s Series D financing closed on August 26th, 2015, led by new investor, Tyche Partners. Other investors included Artiman Ventures, CBC-Capital, Cheerful Link Ventures, Correlation Ventures, Kleiner Perkins Caufield & Byers, Korea Investment Partners, Northern Light Venture Capital, Oriza Holdings, SAIF Partners, Tao Invest and the University of Michigan. This brings total funding to $85 million.
“The future of electronics innovation rests largely on new developments in memory technology,” said George Minassian, CEO and Co-Founder, Crossbar Inc. “Crossbar RRAM has been enthusiastically embraced as the leading contender to replace aging non-volatile memory due to its manufacturability and scalability for a broad variety of applications. This latest round of funding will enable us to take the next crucial steps in bringing our technology to market.”
