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Spin Transfer Technologies raises $36M
Spin Transfer Technologies, Inc. a leading developer of a
breakthrough MRAM universal computer memory technology announced today
that it secured $36 million in Series A funding. The raise was led by
its Boston-based parent company, Allied Minds and Invesco Asset
Management.
Spin Transfer Technologies (STT) will use the funds to scale operations,
purchase equipment and grow its team to accelerate development of its
patented orthogonal spin transfer magneto resistive random access memory
technology (OST-MRAM). The company is poised to create the next
generation of memory applications combining the non-volatility of flash
with the read and write performance of DRAM and SRAM into one, seamless
product. Initial performance data from STT bit cells has far exceeded
industry standards in key areas.