Crocus Technology, a developer of magnetically enhanced semiconductor technologies for mobile security, embedded microcontrollers, harsh environment electronics and magnetic sensors, has raised EUR 34 million (USD 45 million) in additional capital.
A new private investor, Industrial Investors, joined the round led by Idinvest Partners. Major investors Sofinnova Ventures, Innovation Capital, Nanodimension, Rusnano and Ventech also participated, underscoring seven years’ support.
“Crocus is now fully funded to deliver on the last key milestone in the industrial processing of its now mature Magnetic Logic Unit technology,” said Bertrand Cambou, CEO and executive chairman of Crocus Technology. “The commitment from our impressive group of investors along with the validation of our technology by strategic customers put us in a good position to prepare for product revenue around the end of this year. Combined with our steadily growing licensing and services business, we anticipate reaching cash flow break-even point by the end of next year.”
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