Western Digital Backs Memory Semiconductor Developer

Irvine-based Western Digital has backed the developer of semiconductor memory technology, as part of a strategic funding round. Everspin Technologies, which develops "magnetoresistive RAM"--aimed at use in such things at solid state storage--said this morning that it has raised $29M in a Series B funding round. The new round was led by GLOBALFOUNDRIES and WD's venture arm, Western Digital Capital, along with prior venture backers New Venture Partners, Lux Capital, Sigma Partners, Epic Ventures, and Draper Fisher Jurvetson. The companies said that WD's strategic investment recognizes the "important role" that Everspin's memory technology will be used for in the development of high-performance storage. More information »