RAAAM Memory Technologies, a start-up that developed the next generation of on-chip memory technology, announced the completion of a $17.5 million Series A funding round. The round was led by NXP Semiconductors, with participation from a leading networking and communications company, IAG Capital Partners, EIC Fund, LiFTT, Alumni Ventures, and all existing investors, including J-Ventures, Silicon Catalyst Ventures, and Serpentine Ventures. The round brings the company's total investments to over $24 million, including equity investments and a prestigious grant from the European Innovation Council – EIC Accelerator.
The raised capital will be used to complete the development of RAAAM’s on-chip memory technology ("GCRAM") across several advanced manufacturing processes at leading semiconductor fabrication plants. The company has already demonstrated its GCRAM technology on chips in several advanced processes and previously announced a collaboration with NXP.
RAAAM was founded in 2021 by Robert Giterman (CEO), Andreas Burg (CTO), Alexander Fish (Innovation Advisor), and Adam Teiman (Technology Advisor). The company’s technology was jointly developed at Bar-Ilan University and EPFL in Switzerland by the founding team. RAAAM has created the next generation of on-chip memory technology for the semiconductor industry, providing up to 50% area reduction and up to 10x lower power consumption compared to SRAM. RAAAM’s patented technology is manufactured using a standard CMOS process, and semiconductor companies can use it as a replacement for SRAM, enabling larger on-chip memory capacity in a smaller silicon area and at reduced cost. The company, based in Petah Tikva and Lausanne (Switzerland), currently employs 22 people.
"This funding round, which included leading 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 technology significantly enhances the performance of advanced AI chips by enabling high-density memory implementation and lowering power consumption compared to SRAM."
"This financing, backed by strategic investors such as NXP and a leading networking and communications company, confirms the industry’s need for our technology," said Eli Lizerovitch, RAAAM’s Business Director. "We are now at a point where we can expand collaborations with leading semiconductor companies and fabrication plants, adapting our solutions to customer requirements according to their development plans."
"We have collaborated with RAAAM for several years and have witnessed firsthand the potential of their on-chip memory technology," said Victor Wang, Vice President of Front-End Innovation at NXP Semiconductors. "RAAAM’s solution directly addresses one of the most critical challenges in advanced chip design, and we believe it can deliver significant density and power efficiency improvements across many applications."