Spin Transfer Technologies raised $22.8 million via a convertible bridge facility
Spin Transfer Technologies announced that it has raised $22.8 million via a convertible bridge facility. STT says that this will help the company get ready to complete its Series B funding round, targeting strategic investors and planned to conclude by end of Q1 2018.
In January 2017 STT announced that it has started to deliver fully functional ST-MRAM samples to customers in North America and Asia. The sample devices are based on the company's Orthogonal Spin Transfer Magneto-Resistive Random Access Memory technology (OST-MRAM), and use 80nm perpendicular magnetic tunnel junctions (MTJs)., the latest generation of MRAM technology.