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Avalanche Technology Adds $25 Million Venture Capital

Wednesday, December 2, 2015 5:07:00 AM PDT | VentureDeal
   Fremont, California  -- Memory technology company Avalanche Technology raised $25.3 million in new equity venture capital funding, according to an SEC regulatory filing.

Avalanche has developed what it calls disruptive low-power non-volatile magnetic memory.

The company's mission is to "fundamentally change the $53 billion industry...enabling radical leaps in memory and storage system architectures."

Investors in the financing were not disclosed, nor was how the company intends to use the proceeds.

Avalanche is still seeking $1.675 million in additional equity investment, according to the filing.

CEO Petro Estakhri co-founded the company in 2006 with CTO Dr. Rajiv Ranjan.

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