STT MRAM startup Spin Transfer Technologies secures $36M in Series A funding

Last week, STT MRAM startup Spin Transfer Technologies announced that it had secured $36M in Series A financing from Allied Minds and Invesco Asset Management. Spin Transfer Technologies is developing an “orthogonal” version of STT (spin transfer technology—the technology, not the company) MRAM (magnetic RAM) cells, which the company STT claims “far exceeded industry standards in key [performance] areas.” Spin Transfer Technologies—the company—was established by Allied Minds and New York University to develop and commercialize orthogonal spin transfer magnetoresistive random access memory technology, OST-MRAM.

MRAM is one of the serious challengers to the status quo in semiconductor memory. If made commercially viable in terms of speed and density, MRAM could challenge both DRAM and NAND Flash semiconductor memory.

For more information on MRAM and STT MRAM see “The return of magnetic memory? A review of the MRAM panel at the Flash Memory Summit” and “Can the Magneticians finally succeed in getting MRAM launched as a viable, low-power ASIC NV memory?”