Avalanche Raises $33 Million, Total at $140.5 Million in 9 Rounds Since Inception in 2006

Avalanche Technology, Inc. announced the closing of over $33 million in financing led by Thomvest Ventures, Inc.

With its current P-SRAM (persistent SRAM) devices having moved to production, the company will use the funds to develop higher-density devices for the IoT, aerospace and defense markets. The funds will also be used to develop the higher densities of persistent DRAM required for the next generation of ML architectures.

“The completion of financing led by Thomvest Ventures will enable us to further capitalize on our position as the market leader in pMTJ STT-MRAM technology. Our persistent SRAM products consume extremely low power and are inherently radiation tolerant, well suited for the Internet of Things, aerospace and defense markets,” said Petro Estakhri, president and CEO. “Additionally, our persistent DRAM technology will be key in providing reliable data management needed in data centers, as well as enabling new architectures for machine learning.”

“We are excited to be partnering with the serial entrepreneurs at Avalanche as they disrupt the large and expanding memory market with their innovative magnetic RAM technology,” said Umesh Padval, COB and venture partner, Thomvest Ventures. “With over 280 patents, a proven team, and a portfolio of low power, high endurance, and high density offerings, Avalanche is well positioned to become a leader in the industry.”

Avalanche’s second gen of high performance P-SRAM devices are available:
• At densities of up to 32Mb in 108MHz Quad Serial Peripheral Interface (QSPI) performance as a byte addressable memory, thus eliminating the need for software device drivers,
• In up to Industrial Extended temperature, in a variety of small form factor industry pin compatible RoHS packages, and
• In a range of voltages from 1.71V to 3.6V, suitable for industrial SoCs as well as future generations of low voltage and low energy devices.