Adesto Closes Third Round of Financing Led by Altis Semiconductor

Adesto Technologies Corporation, developer of low-power, low-cost CMOS-based Conductive Bridging RAM (CBRAM) technology, has announced the closing of its third round of financing led by Altis Semiconductor.

Adesto’s current investors also contributed pro-rata in the new round. The investment from Adesto’s manufacturing partner will also include a licensing agreement that enables Altis to offer embedded CBRAM memory IP for its customers.

"Our third round funding is a strong vote of confidence in Adesto’s ability to begin selling our first CBRAM devices and to make our IP available to customers through our Altis partnership," said Narbeh Derhacobian, CEO of Adesto Technologies. He added: "Working with our engineering team, Altis Semiconductor has proven their expertise in processing CBRAM devices and both companies have achieved a high yielding CBRAM process technology in record times."

Adesto was founded in 2007 to commercialize CBRAM technology for a range of standalone and embedded memory applications. Since its initial founding, Adesto has been focused on developing the first commercial CBRAM devices. Additionally, Adesto has partnered with three leading multi-billion dollar semiconductor firms for development of CBRAM technology, across a range of distinct memory market applications and opportunities.

"After two and a half years of close collaboration on the successful development of CBRAM memory, Altis is excited to announce it stands with Adesto not only as a manufacturing partner but also as an investor and licensee," said Jean-Paul Beisson, CEO of Altis. "With this investment and license, we now can expand our CBRAM capabilities by offering the low power and low cost CMOS based memory to our embedded customers. Altis and Adesto are in early discussions with several customers with respect to utilizing this differentiated IP."

Altis Semiconductor offers semiconductor technologies and value-added foundry services for market segments like mobile, security and automotive. Specialty technologies in RF, embedded non-volatile memory and high voltage offer customers the ability to address value-added applications. These differentiated technologies are manufactured in the Corbeil-Essonnes fab under quality and operational controls.

"Adesto Technologies and Altis Semiconductor have made tremendous strides within a very short period of time to make CBRAM a viable non-volatile memory alternative to existing flash, EEPROM and embedded non-volatile memory technologies," said Alan Niebel, founder and CEO for Web-Feet Research, Inc., a non-volatile memory and storage semiconductor research company located in Monterey, CA. "With this investment round, Adesto has the ability to eventually target a $5B EEPROM and NOR flash market."