Sunnyvale: Crocus Technology, a developer of Magnetic Random Access Memory (MRAM), has announced that it has raised a combined 11.5 million euros in its second round of funding. This round hailed full participation from Crocus' current investors: AGF Private Equity, CDC Innovation, NanoDimension, Sofinnova, and Ventech, raising 8.5 million euros. The company was also awarded an additional three million euros in funding from OSEO, a French agency supporting advanced R&D programs, to further the development and bring into production its proprietary MRAM technology as a scalable high density non volatile memory solution.

Crocus' MRAM technology solves all the well-known problems encountered in earlier MRAM implementations. The company's technology has demonstrated on silicon its stability, reliability, data retention, endurance, and scalability, while exhibiting high speed, low power dissipation, and excellent resistance to external perturbation. Crocus also recently qualified its complete manufacturing environment for the development and rapid prototyping of MRAM. These achievements have positioned Crocus as one of the very few companies in the world capable of fully integrating advanced MRAM onto CMOS. With this additional funding, Crocus will complete the technology development necessary to support its initial product introduction.

"This round of funding will enable Crocus to move closer to actually delivering on the awesome promise of MRAM. With our first products we will bring a whole new memory paradigm to a number of high volume markets." said Jean Pierre Braun, founder and CEO of Crocus Technology. "While a few companies are busy announcing long term development plans, Crocus is moving toward delivering this MRAM technology solution."