RRAM developer Weebit Nano announced that it has raised $50 million AUD (about $32.4 million USD) through a strongly supported underwritten placement to institutional investors.
The company says that funds will be used to expand the company’s commercialization activities, support new customer and partner agreements, and accelerate the development of its cutting-edge RRAM technology.
A few months ago Weebit announced that it has taped-out the first demonstration integrating Weebit’s embedded RRAM module in DB HiTek’s 130nm Bipolar-CMOS-DMOS (BCD) process.
In November 2023, Weebit announced that it has received its first IP licensing revenue for its embedded ReRAM technology. Earlier in April 2023 Weebit announced that it has secured $40 million USD.