Crossbar said it plans to use the money to continue the commercial ramp of its technology and brings it to market as an embedded non-volatile memory with production starting in 2016.
New investor Tyche Partners led the funding round joined by two other new investors, Oriza Holdings and Cheerful Link Ventures. All of Crossbar’s existing investors also joined in the funding round. These existing investors include Artiman Ventures, CBC-Capital, Correlation Ventures, Kleiner Perkins Caufield & Byers, Korea Investment Partners, Northern Light Venture Capital, SAIF Partners, Tao Invest and the University of Michigan.
Crossbar’s ReRAM technology is based on metal-ion migration and filament formation within amorphous silicon. The company has selected silver as the material to form conductive filaments that are made and broken to record a 1 or a 0.
The company is developing the technology both as a stand-alone multi-layered memory that could provide terabytes of storage in a single components and as a CMOS-compatible non-volatile memory embedded within logic SoCs. In the first case Crossbar would be a fabless chip vendor while in the second it would license its technology for use by IDMs and foundry customers
In conjunction with the latest round of funding, Weijie Yun, the founder and managing partner of Tyche Partners has been named to the Crossbar board of directors."The storage market faces a tipping point in the next five years and is ripe for a disruptive, yet proven, technology such as Crossbar RRAM," said Yun, in a statement issued by Crossbar.
Weijie Yun was the founding CEO of Telegent Systems Inc. and now serves as executive chairman of Ambiq Micro and is on the board of mCube Inc. (San Jose. Calif.).
In the same statement Wen Hsieh, general partner at Kleiner Perkins Caufield & Byers said major customers and foundries have embraced Crossbar’s technology.
Related links and articles: