Equispheres Raises $30M in Series B Funding

Equispheres, an Ottawa, Ontario, Caanda-based material science company, raised $30m in Series B funding.

The round was led by HG Ventures, with participation from Sustainable Development Technology Canada (SDTC), BDC, Canada’s bank for entrepreneurs, and other undisclosed contributors.

The round was comprised of:

– $10m in equity investment from HG Ventures,

– $8m dollar grant from SDTC,

– $5m subordinated financing from BDC,and

– $7m in undisclosed funding.

The company intends to use the funds to scale up production, and invest in R&D partnerships in automotive, aerospace & defense industries. Specifically, the areas the company will focus on are:

– Improve reactors for higher volume and lower cost production

– Accelerate research and development projects with strategic partners in the automotive, aviation, space and defense industries

– Hire and develop talent, creating high quality jobs

– Develop application support services for the automotive, aviation, space and defense industries to facilitate advanced manufacturing opportunities made possible with the materials Equispheres has developed.

Led by Kevin Nicholds, President and CEO, Equispheres is a materials science technology company focused on additive manufacturing applications. Equispheres focuses on engineering and providing ultra-high-performance, mono-sized metal powders and invests heavily in R&D around metallurgy and alloy development.

Source. FinSMEs. April 22, 2020

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Avalanche Technology Raises $33M in Funding.

Avalanche Technology, a Fremont, CA-based MRAM technology platform, raised over $33M in funding.

The round was led by Thomvest Ventures.

The company will use the funds to accelerate the development of its P-SRAM™ memory devices for the Internet of Things, aerospace and defense markets and higher densities of persistent DRAM required for the next generation of machine learning architectures.

Led by Petro Estakhri, President and CEO, Avalanche Technology has developed Perpendicular STT-MRAM technology, which aims to replace traditional Flash and SRAM for unified memory architectures in future SOC systems, delivering high performance and low power at 55, 40 and 28nm with scalability to 22 and 14nm.

With a proven STT-MRAM portfolio at multiple geometry nodes combined with an intellectual property portfolio of over 280 patents and applications, Avalanche Technology aims to enable the next generation of scalable embedded unified memory architecture for use in GPUs, MCUs, DSPs, ASSPs and ASICs.

Source. FinSMEs, Staff, May 28, 2019

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