Intrinsic announced the close of a £1.35m seed funding round led by investors UCL Technology Fund and IP Group plc.
22 March 2021
Intrinsic Semiconductor Technologies Ltd, a London, UK-based semiconductor manufacturer, announced the close of a £1.35 million ($1.9M) seed funding round.
The money was raised from investors led by investors UCL Technology Fund (managed by AlbionVC) and IP Group plc.
The funding will enable Intrinsic to partner with leading semiconductor research foundry, imec in Belgium, to develop prototypes of its proprietary non- volatile memory devices using industry standard ‘complementary metal oxide semiconductor’ (CMOS) processing on 300mm silicon wafers.
Intrinsic, led by CEO Mark Dickinson and founded in 2017 by Tony Kenyon and Adnan Mehonic, invented a ‘memristor’, also known as ReRAM or RRAM, which is an alternative product to the Flash memory technology, and that can be implemented in the same semiconductor chip as the processor.
Intrinsic’s novel memory technology is based on the same materials as the CMOS chip itself, such as silicon oxide, which removes a key limitation and changes what is possible. Intrinsic’s memory is easier to integrate and inherently faster and more power efficient than Flash. This technology will provide a huge improvement to the power consumption and cost of future devices that will drive an increasing range of everyday products and services.
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