Ferroelectric Memory GmbH (FMC) Raises $20 Million to Accelerate Next-Generation Memory for AI, IoT, Edge Computing, and Data Center Applications

Strong investor syndicate will enable FMC to accelerate commercialization of its disruptive non-volatile ferroelectric memory technology for a broad set of memory and compute applications

DRESDEN, Germany -- Nov. 17, 2020 -- Ferroelectric Memory GmbH (FMC), the ferroelectric hafnium oxide technology leader, today announced that it has completed a $20 million Series B funding. The round of financing was led by the new investors M Ventures and imec.xpand, with participation of SK hynix, Robert Bosch Venture Capital, and TEL Venture Capital. The lead investor of Series A eCapital also participated in this round. The new set of investors aims to support FMC throughout the whole semiconductor value chain to bring FMC's advanced ferroelectric memory technology to market. The company plans to expand its team in Dresden, as well as to start international expansion, including into the US and Asian markets.

"The rise of AI, IoT, Big Data, and 5G are demanding next-generation memory solutions that enable superior speed and ultra-low power consumption, while being compatible with leading-edge CMOS logic processes guaranteeing reduced manufacturing costs," said Ali Pourkeramati, CEO of FMC. "We have strong interest from customers and development partners for our advantages in fast access, program and erase speed, best-in-class ultra-low energy budget, ease-of-integration into existing manufacturing processes, and low manufacturing costs. This funding will speed up the commercialization of our ferroelectric field-effect transistor (FeFET) and capacitor (FeCAP) technology into exponentially increasing markets in the AI, IoT, embedded memory, and high-performance stand-alone data center sectors."

FMC has already made significant progress in the development of its non-volatile memory technology promising to offer superior performance compared with state-of-the-art and emerging memory solutions. It is currently working closely with major semiconductor companies, as well as with foundries in the US, Europe, and Asia.

Technological Advantages

FMC's memory technology uses the ferroelectric properties of crystalline hafnium oxide (HfO₂). HfO₂ in its amorphous form is already the gate insulator material of every CMOS transistor ranging from planar to FinFET. FMC's patent-protected technology makes it simple to transform amorphous HfO₂ into crystalline ferroelectric HfO₂. This way, every standard CMOS transistor and capacitor can be turned into a non-volatile memory cell, a ferroelectric field-effect transistor (FeFET) or capacitor (FeCAP).

In addition to its high speed, ultra-low power, CMOS logic compatibility, reduced manufacturing cost, and extreme temperature stability, FMC's technology provides complete magnetic immunity and high radiation resistance. FeFETs and FeCAPs can be integrated into CMOS production lines using existing equipment without the need for extra capital expenditures.

About Ferroelectric Memory GmbH (FMC)

FMC has developed the most advanced ferroelectric hafnium oxide memory technology to deliver leading-edge non-volatile memory for future electronics and computing innovation. The company was incorporated in 2016 and is currently working with major semiconductor companies for its embedded and stand-alone memory solution. Its ferroelectric field-effect transistor (FeFET) and capacitor (FeCAP) technology is simple to integrate, fast, low-power, and scalable, and has high endurance with decades of data retention, suitable for a broad range of AI, IoT, edge, data center, and embedded applications.

About M Ventures

M Ventures is the strategic, corporate venture capital arm of Merck. Its mandate is to invest in innovative technologies and products with the potential to significantly impact Merck's core business areas. From our headquarter in Amsterdam and offices in the US and Israel we invest globally in transformational ideas driven by great entrepreneurs. M Ventures takes an active role in its portfolio companies and teams up with entrepreneurs and co-investors to translate innovation towards commercial success. M Ventures has a significant focus on early stage investing and company creation including the creation of spin-offs to leverage Merck's science and technology base. Learn more at www.m-ventures.com

About imec.xpand

imec.xpand is an early stage and growth fund with a game-changing approach to turn hardware driven nanotechnology innovation into successful global companies. The fund is independently managed by a team of entrepreneurs, seasoned venture capitalists and business experts and is targeting ambitious tech start-ups where imec knowledge, expertise and infrastructure can play a determining role in the success. For more information about imec.xpand please visit us on www.imecxpand.com.

About SK hynix

SK hynix Inc., headquartered in Korea, is the world's top tier semiconductor supplier offering Dynamic Random Access Memory chips ("DRAM"), Flash memory chips ("NAND Flash") and CMOS Image Sensors ("CIS") for a wide range of distinguished customers globally. The Company's shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com.

About TEL Venture Capital

TEL Venture strives to leverage the capabilities of our parent Tokyo Electron Ltd — the world's leading company of semiconductor and flat panel display production equipment — to enable the growth of other foundational technologies — from thin film transistors to nanotechnology. Our approach reflects our understanding of the limitations of both traditional corporate and financial venture capital models. We seek new ways to use our unique resources to transform ideas, talents and technologies into great companies. We are located in Silicon Valley, USA, but we are globally focused since good ideas and fresh perspectives can emerge anywhere.

About Robert Bosch Venture Capital

Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. RBVC invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and future relevance for Bosch, above all, automation and electrification, energy efficiency, enabling technologies, and healthcare systems. RBVC also invests in services and business models that are relevant to the above-mentioned areas of business. Additional information is available at: www.rbvc.com

About eCapital

eCAPITAL is a venture capital firm that provides early to growth stage funding to technology companies in the fields of software & information technology, cybersecurity, industry 4.0, new materials and cleantech. Founded in 1999, eCAPITAL has a history of supporting entrepreneurs determined to build companies with lasting significance. Partnering with eCAPITAL means joining an international network of business leaders, entrepreneurs, technologists and potential partners. eCAPITAL is located in Germany, currently manages funds with over EUR 220 million under management and was lead investor of some very successful German exits like sonnen or Novaled.