Spin Transfer Garners $36,000,000 Series A Financing

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a7dcdc13-babd-427b-8ece-e1d741d98e9f&Preview=1
Date
2/14/2012
Company Name
Spin Transfer
Mailing Address
33 Arch Street 32nd Floor Boston, MA 02110
Company Description
New York University and Allied Minds have teamed to establish Spin Transfer Technologies (STT) to develop and commercialize advanced spin transfer magnetoresistive random access memory (MRAM) technologies.
Website
http://www.spintransfer.com
Transaction Type
Venture Equity
Transaction Amount
$36,000,000
Transaction Round
Series A
Proceeds Purposes
Spin Transfer Technologies (STT) will use the funds to scale operations, purchase equipment and grow its team to accelerate development of its patented orthogonal spin transfer magneto resistive random access memory technology (OST-MRAM).
M&A Terms
Venture Investor
Allied Minds
Venture Investor
INVESCO Private Capital