Crocus Technology designs TMR sensor products with high magnetic sensitivity, stable temperature performance, and ultra-low power consumption, with sensors integrated within a CMOS process for monolithic, cost-effective solutions. Its MLU™ technology underpins products targeted at IoT, mobile, automotive, medical, industrial and other applications. The company says it will use newly raised capital to expand its commercial team, broaden its product portfolio, and extend its patent portfolio to solidify TMR leadership. Crocus is headquartered in Santa Clara, California, and also has offices in Grenoble, France and Beijing and Shenzhen, China. Management cites a goal to accelerate revenue growth and reach profitability by the end of the year. The company referenced market research projecting the worldwide magnetic sensor market to grow to $5.37 billion by 2023 (8.77% CAGR) and TMR sensors to grow at about a 9.41% CAGR over the next five years. Crocus Technology is a supplier of magnetic sensors and embedded memory solutions built on Magnetic Logic Unit™ (MLU) technology. Its products target applications that require high sensitivity, high-temperature operation, low-noise and low-cost, including industrial, consumer electronics and automotive sectors. The company plans to deploy its sensor product strategy in key target markets including industrial, consumer electronics, automotive and IoT. It intends to strengthen commercial resources by finalizing a distribution network in Asia and reinforcing its support team. Crocus also plans to develop new designs to expand its portfolio with integrated sensor and smart sensor applications. The company raised $21M in this financing and has raised $194M (€180.3M) to date. Founded in 2004 and led by CEO Michel Desbard, Crocus is based in Santa Clara, California and maintains offices in Grenoble and Rousset, and co-owns a Russian manufacturing facility, Crocus Nano Electronics. Crocus Technology develops magnetically enhanced semiconductor technologies built around its Magnetic Logic Unit (MLU) for mobile security, embedded microcontrollers, harsh-environment electronics and magnetic sensors. Its MLU is a CMOS-based rugged magnetic technology that the company licenses to TowerJazz and other foundries for integration. Founded in 2004 and led by CEO Bertrand Cambou, Crocus has offices in Grenoble and Gardanne, France, and US operations in Santa Clara, California, and jointly owns a Russian manufacturing facility with Rusnano. Together with IBM it is developing Generation 3 technology targeting high-end smart cards. The company is expected to launch a magnetic sensor product line. It recently completed a financing round to support go-to-market, product qualification and manufacturing ramp at TowerJazz Semiconductors. The company develops Magnetic Random Access Memory (MRAM) for dense, non-volatile, high-speed, scalable memory applications. MRAM is positioned as a replacement for SRAM and flash across telecommunications, networking, computing and handheld devices. Crocus completed an €8m financing round to support its production transfer and product development. The funds will be used to complete the production transfer of its 130nm MRAM technology to manufacturing partner Tower Semiconductor and to continue product development. Investors in the round include AGF Private Equity, CDC Innovation, CEA Investissement, Nanodimension, Sofinnova Ventures and Ventech. In conjunction with the funding the company appointed Dr. Bertrand F. Cambou as CEO and chairman; he brings more than 29 years of semiconductor industry experience to help commercialize the technology. Crocus Technology is a French semiconductor maker developing magnetic random-access memory (MRAM) chips that store information using magnetic fields. Its MRAM chips are described as less volatile, lower-power and generally faster than conventional flash memory used in most computers and handheld electronics. The company plans to commercialize the technology and expects MRAM to start replacing flash once it goes to market. Crocus faces competition from other firms racing toward similar products, including Austin, Tex.-based Freescale Semiconductor Inc., an offshoot of EverSpin Technologies Inc., and Silicon Valley’s Grandis Inc. Financially, Crocus completed a second-round financing of $15.8 million and also received $4.1 million from OSEO, France’s public agency for funding innovation. The new funding will be used for continued development of its MRAM chips.

Total raised

$130M

Funding rounds

8

Latest round

Equity

Latest activity

Apr 2018