RAAAM Memory Technologies, a startup company which developed the next-generation on-chip memory technology, announced today 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, including J-Ventures, Silicon Catalyst Ventures, and Serpentine Ventures. The round brings RAAAM’s total funding to over $24M, including equity investment and the prestigious EIC Accelerator grant.
This new fundraising 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.
“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, and the backing from strategic investors like NXP and a leading networking corporation, is a strong validation of the industry need for our technology, said 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.”
“We’ve collaborated with RAAAM for several years and have seen first-hand the potential of their on-chip memory technology,” said Victor Wang, Vice President of Front-End Innovation at NXP Semiconductors. “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.”
“Strengthening Europe’s leadership in strategic technologies is central to our mission at the EIC Fund,” said Svetoslava Georgieva, Chair of the EIC Fund Board. “RAAAM’s breakthrough in on-chip memory directly addresses a critical challenge in the semiconductor value chain. We are happy to support their path from proven prototypes to market-ready solutions.”
Contact info@raaam-tech.com for more information.
Header: RAAAM’s Leading team, From right to left: Adam Teman, Eli Leizerovitz, Robert Giterman, Alex Fish, Eran Rotem
Credit: Omer Hacohen
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