Tokyo-based Floadia has raised 1.2 billion Yen in its Series C round of financing. The round was led by Teijin Co., Ltd. The company contributed 530 million Yen together with TEL Venture Capital Inc., a wholly-owned subsidiary of Tokyo Electron. In the second closing of the round, Miyako Capital, Marubeni Ventures, NEC Capital Solutions, and IDATEN Ventures undertook a total of 510 million Yen. Japan Finance Corporation has also provided a loan of 180 million yen. The company has raised up to 3.6 billion Yen in total funding to date.
Founded in 2011, Floadia is a non-volatile memory technology company. It plans to use the fresh funding to expand its existing embedded memory business and develop its new semiconductor memory technology. This technology is expected to make a breakthrough in AI edge computing with ultra-low power consumption. The company’s memory technology can enhance the power efficiency of AI calculation 100 to 1,000 times better.
“Taking advantage of this funding, Floadia will also accelerate the development of AI edge computing devices that can significantly reduce power consumption,” Floadia said in its company press release.
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