Intrinsic Semiconductor Technologies raises £7m led by Octopus Ventures to scale engineering team
The funding round was led by Octopus Ventures with backing from IP Group and the UCL Technology Fund.
Intrinsic Semiconductor Technologies builds non-volatile memory technology designed to embed intelligence into small devices. The company develops resistive random-access memory solutions originating from research at University College London.
Intrinsic Semiconductor Technologies has secured £7m in funding led by Octopus Ventures, with participation from existing backers IP Group and the UCL Technology Fund. The round was accompanied by £1m in grants from InnovateUK. The company will direct the capital towards expanding its engineering team to bring its non-volatile memory product to market.
Spun out of University College London, the company has created an approach to resistive random-access memory that reads and writes significantly faster than existing solutions. The technology utilises standard CMOS compliant materials to help chip manufacturers integrate memory onto processors without incurring high costs or excess energy consumption.
From the founder
"We believe RRAM has the potential to become the backbone for the next generation of edge and IoT computers at a time when data hungry intelligent applications are becoming more and more prevalent"
Mark Dickinson
CEO at Intrinsic Semiconductor Technologies
Investor perspective
"Intrinsic underlines the potential of the UK semiconductor industry to develop radical new solutions for the next generation of devices"
Owen Metters
Investor, Octopus Ventures
Use of funds
- 01Grow the team
- 02Continue product development
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About the company
Intrinsic Semiconductor Technologies
Intrinsic Semiconductor Technologies develops resistive random-access memory to enable smart devices.