M Ventures, Imec Xpand lead $20m round for Ferroelectric Memory

Semiconductor company SK Hynix, Robert Bosch Venture Capital, TEL Venture Capital and eCapital also participated in the round.

The company plans to use the fresh capital to expand its team in Germany and also intends to expand into the US and Asia.

Belgium-headquartered Imec Xpand focuses on investments in nanoelectronics startups.

M Ventures is the venture capital arm of Germany-based Merck KGaA. The firm generally makes early-stage investments, focusing on areas including healthcare, life sciences and performance materials.

Previous funding
High-Tech Gründerfonds (HTGF) backed a seed round for FMC in October 2017, investing via its third fund.

In July 2018, HTGF and eCapital backed a €4.6m round for FMC.

Company
FMC produces microcontroller memory chips for use in technology and electronic equipment in areas including artificial intelligence, Internet of Things and data centres. The company was founded in 2016 and is headquartered in Dresden.

People
Ferroelectric Memory – Ali Pourkeramati (CEO).
M Ventures – Jasper Bos (senior vice-president, managing director).

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• Topics
• Expansion
• DACH
• Technology
• Venture
• Germany