Everspin Gets $29M For Memory Technology

Chandler, Arizona-based memory technology developer Everspin Technologies said this morning that it has raised $29M more in a Series B venture funding round. The funding came from GLOBALFOUNDRIES, Western Digital Capital, along with New Venture Partners, Lux Capital, Sigma Partners, Epic Ventures, and Draper Fisher Jurvetson. Everspin said the deal comes as part of a partnership between Everspin and GLOBALFOUNDRIES for the supply of wafers for its MRAM products. Everspin is developing embedded Magnetoresistive RAM (MRAM) and Spin-Torque MRAM (ST-MRAM).