Avalanche Technologies, a US-based memory chip manufacturer backed by mobile chip manufacturer Qualcomm and telecommunications firm Rogers Communications, has raised $25.3m, VentureDeal reported yesterday, citing a regulatory filing.
Investors in the series E round have not yet been revealed. The filing shows Avalanche is seeking an additional $1.7m to close out the round.
Founded in 2006, Avalanche produces solid-state storage and related memory technologies that enable computers to access data within nanoseconds. The technology has applications for a range of products and services including smartphones, big data and the cloud.
Avalanche has raised more than $79m to date. Rogers Venture Partners, which acts as Rogers’ corporate venturing arm, provided $5m to close the company’s series D round at $35m in early 2013.
Qualcomm Ventures, the corporate venturing subsidiary of Qualcomm, backed the round’s initial $30m tranche in August 2012 alongside VTB Capital, the investment unit of Russia-based bank VTB Group, Vulcan Capital, Sequoia Capital, Bessemer Venture Partners and Thomvest Ventures.
Qualcomm Ventures had already contributed to an $11.5m Vulcan-led series C round in January 2012 that also included Sequoia, Thomvest, Bessemer and Leader Ventures.
The company’s shareholders also include Peregrine Capital and Sand Hill Capital. Avalanche has secured approximately $1.5m in debt financing in addition to its equity funding, according to regulatory filings.