US-based memory storage developer Nantero raised $29.7m in funding yesterday from investors including computer manufacturer Dell’s corporate venturing arm Dell Technologies Capital.
Cisco Investments, the corporate VC unit of networking equipment maker Cisco, and memory storage producer Kingston Technology also participated, as did oilfield services company Schlumberger and three undisclosed semiconductor companies.
Semiconductor-focused investment firm CFT Capital also contributed funding to the round.
Nantero is developing storage technology known as high-density, high-speed non-volative random access storage (NRam) using carbon nanotubes. The technology has applications in desktop, mobile, enterprise and internet of things systems.
The fresh funding will go towards supporting existing partners and enabling new customers to integrate Nantero’s technology into their products. The company has also set up a subsidiary in China to drive expansion efforts in the country.
Nantero has now secured more than $120m in funding, according to its latest press release. Schlumberger previously backed a $15m series D round in 2013 alongside at least one other, unnamed corporate.
Nantero’s shareholders also include CRV, Draper Fisher Jurvetson, Stata Venture Partners, Harris & Harris Group and Globespan Capital Partners, the latter of which led a $21m round in 2016.
Greg Schmergel, co-founder and chief executive of Nantero, said: “Having global leaders such as Cisco Investments and Dell Technologies Capital invest in Nantero highlights the potential of our next generation NRam technology.
“No other memory combines DRam-like speed, low power, non-volatility and reasonable manufacturing costs, along with excellent temperature and radiation stability.
“We are pleased to see the industry also recognising these significant competitive advantages as evidenced by these investors and our continually growing customer base.”