ZeroPoint Technologies to raise €2.5 million in a seed funding round backed by Industrifonden.

ZeroPoint Technologies, a Geothenburg, Sweden-based manufacturer of a memory compression technology, announced closing a seed funding round of €2.5 million ($3 million).

The money was raised from the Sweden-based investors from Industrifonden and will be used to grow and expand the company’s international presence and take several products to market.

ZeroPoint Technologies, founded in 2015 as a spinout from Chalmers University of Technology by Per Stenström and Angelos Arelakis and led by CEO Klas Moreau, developed Ziptilion, a patented memory compression technology for high performance System on a Chip (SoC) processor subsystems. The technology effectively doubles the memory capacity and memory bandwidth, with an IP-block placed on the memory access path and transparent to the operating system and applications. ZeroPoint also offers memory encryption, a technology that delivers high throughput and high security memory encryption, integrated with compression or stand alone.