Weebit Nano secures $40m to accelerate technology transfer and qualification

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Weebit Nano, a developer of advanced memory technologies, has announced that it has raised an additional $40 million.

The fund raising came through the placements of new shares with international institutional investors, as well as an oversubscribed share purchase plan (SPP) to existing shareholders.

The money raised will fund further development and commercial roll-out of Weebit resistive random access memory (ReRAM) technology in both the embedded and discrete markets and will also enable Weebit to capitalise on the opportunities within the Non-Volatile Memory (NVM) market as the company progresses its commercialisation strategy with foundries, manufacturers and potential customers.

The company’s embedded ReRAM technology is available in US fab SkyWater Technology’s 130nm process, and is intended for IoT, medical and aerospace applications.

Weebit Nano CEO Coby Hanoch said of the fund raising, “The strong level of support shown by new and existing institutional investors from around the globe reflects our technical progress over the past year and the significant market opportunities for our proven memory technology. We are delighted to welcome new institutional investors to our register and their support of Weebit’s ground-breaking technology.

“Our first ReRAM product is now available to customers through SkyWater Technology, and we are in advanced discussions with many leading fabs and integrated device manufacturers.”