Monday, October 09, 2017
Spin Transfer Technologies (STT) has raised $22.8 million of funding via a convertible bridge facility.
Proceeds will be applied to fund development work of next-generation ST-MRAM designed to improve speed, size, low-power consumption, and endurance.
STT believes these superior specifications could accelerate the replacement of existing SRAM and DRAM memory, in particular in the faster growing Mobile and Enterprise segments where power consumption and cost are particularly important.
The convertible bridge facility is designed to bridge STT to the completion of a Series B funding round, targeting strategic investors and planned to conclude by end of Q1 2018.
STT aims to deliver a market-ready product as the expected adoption of commercial MRAM begins in 2018.
STT believes that its technology holds the potential to enable MRAM to replace not only all embedded non-volatile memories, but also cost effectively replace SRAM and persistent DRAM, the “holy grail” for MRAM technology, with a >$20 billion annual market in the Enterprise and Mobile segments alone.
To achieve this goal, MRAM must match or exceed speed, size, power consumption, and endurance specifications as well as the cost structure of SRAM and DRAM. MRAM development work across the industry has so far yielded technology which meets some but not all of these requirements.
While MRAM has inherently lower power consumption and is non-volatile, today’s solutions meet neither the speed nor endurance of existing SRAM and DRAM products. STT’s patented technologies are seeking to solve this trade-off:
1. Differentiated perpendicular magnetic tunnelling junction (pMTJ) design and processing
· Leveraging its world class magnetics team and state of the art R&D Fab, STT is seeking to enable smaller, faster and easier-switching pMTJ structures: the core magnetics technology of MRAM
· STT’s own R&D Fab line allows it to accelerate the refinement of the structure
2. Spin Polarizer (also known as PSC)
· A proprietary, patented magnetic polarizing layer which has shown the ability to materially boost the key parameters of the pMTJ, including switching speeds, retention and lower power consumption
· Has the potential to be used with others’ pMTJs, creating licensing opportunities
3. The Endurance Engine
· A collection of techniques and circuit innovations uniquely tuned to the physics of the pMTJ designed to extend the switching endurance of any pMTJ by up to six orders of magnitude. This benefit would be realised with no material changes to the pMTJ
· Further, the Endurance Engine leads to smaller write currents (lower power consumption) and smaller base transistors
· The Endurance Engine is the culmination of the synergy achieved at STT between magnetic material scientists and circuit and systems engineers
· Like the Spin Polarizer, The Endurance Engine has the potential to be used with others’ pMTJs, creating further licensing opportunities
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