Spin Transfer Technologies

The firm operated in the semiconductor market, focusing on developing a universal memory solution to replace traditional memory like SRAM, DRAM, and Flash. Its business model centered on acting as a pre-eminent MRAM intellectual property (IP) supplier. By licensing its technology and partnering with industry leaders, Spin Memory aimed to create a comprehensive embedded MRAM ecosystem. Key clients and partners included semiconductor designers, manufacturers, and major industry players like Arm and Applied Materials. Revenue was to be generated through these strategic partnerships and licensing agreements.

Spin Memory's core product was its STT-MRAM technology, designed to offer a memory solution with the high speed of SRAM and the non-volatility of Flash. This technology promised faster switching speeds, lower power consumption, and better scalability than existing memory types. Significant milestones included raising a $36 million Series A in 2012 and a $70 million round in 2014. By 2016, the company had produced a working prototype and began fabricating 20nm OST-MRAM MTJs. A major rebranding to Spin Memory occurred in 2018, coinciding with a $52 million Series B funding round and licensing agreements with Arm and Applied Materials to accelerate MRAM's adoption. Despite further funding and technological developments, such as the 'Universal Selector' announced in 2020, the company faced significant challenges. In July 2021, it was announced that Spin Memory was liquidating due to difficulties in securing new customers and delays caused by the COVID-19 pandemic.