Xenergic in a SEK 40 million capital raise.

Xenergic, a Lund, Sweden-based startup manufacturing low-power memory solutions for integrated circuits, raised its capital in a SEK 40 million ($4.6M) round.

The name of the investors was not disclosed.

Xenergic was founded in 2017 by CEO Babak Mohammadi, Joachim Rodrigues and Anders Berglund as a spinoff from Lund University and develops an innovative technology that reduces power consumption in computer memory by up to 90%.

The company's technology is a new IP for on-chip memories, known as SRAM which is a widely used component in integrated digital circuits such as mobile phones’ processors. The developed IP drastically reduces the power consumption and brings down the area footprint and thus production cost, making it very attractive to low power applications such as battery powered devices.

Xenergic previously raised about $1 million in 2018.