RAAAM Memory announces $17.5m Series A investment led by NXP Semiconductors

RAAAM Memory Technologies, a startup company and developer of on-chip memory technology, has announced that it has completed an over-subscribed $17.5m Series A funding round.

The round was led by NXP Semiconductors and included a leading multinational networking corporation, IAG Capital Partners, EIC Fund, LiFTT, Alumni Ventures and all existing investors, and brought RAAAM’s total funding to date to over $24m, including equity investment and an EIC Accelerator grant.

These new funds will support the full qualification of RAAAM’s patented on-chip memory technology (“GCRAM”) in leading edge process nodes of several top-tier foundries. The company has already demonstrated its GCRAM technology on silicon of leading foundries and has announced a close collaboration with NXP.

GCRAM is a next-generation on-chip memory technology that can provide up-to 50% area reduction and up-to 10X power reduction over high-density SRAM.

RAAAM’s patented technology can be manufactured in any standard CMOS process and can be used by semiconductor companies as a drop-in replacement for SRAM, enabling a larger on-chip memory capacity in a smaller silicon area while reducing both power and cost.

“This oversubscribed funding round with high-profile strategic and financial investors is another sign of confidence in our company and our revolutionary technology,” said Robert Giterman, CEO and co-founder of RAAAM. “Our solution promises to resolve the memory bottleneck in leading edge AI chips through significant memory density improvement and lower power consumption compared to SRAM”.

“This funding is a strong validation of the industry need for our technology,” added Eli Leizerovitz, RAAAM’s CBO. “We’re now in a position to accelerate engagements with leading semiconductor companies and foundries and align closely with our customers’ product roadmaps.”

Commenting Victor Wang, Vice President of Front-End Innovation at NXP Semiconductors, said, "We’ve collaborated with RAAAM for several years and have seen first-hand the potential of their on-chip memory technology. Their solution directly addresses one of the most critical challenges in advanced chip design, and we believe it can deliver significant density and power gains across multiple applications."