FRANCE - OSEO leads EUR 11.5m Crocus funding

Crocus Technology was founded in 2004 and is based in Grenoble. The company is developing MRAM (Magnetic Random Access Memories) technology, which was intially developed at the Commissariat de l’Energie Atomique (CEA) and the Centre National de Recherche Scientifique (CNRS). MRAM has numerous applications for mobile phones, PDAs, MP3 players, laptop computers and RFID tags. The investment will be used to bring the patented MRAM product into production.

Crocus closed a EUR 13.5m first funding round in summer 2006, led by Sofinnova. OSEO is a government backed initiative which backs advanced R&D companies.

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