The IP commercialisation company committed US$4mln to the round alongside other existing investors Arm, Applied Ventures and Abies Ventures, which provided the remaining US$4.25mln.
Allied Minds’ ownership of Spin’s issued share capital is now 43.01%.
Spin Memory will use the proceeds to support its research on MRAM to bring its technology to the market.
Shares rose 1% to 34.72p on Friday at the opening bell.
Published at Fri, 17 Jul 2020 07:17:00 +0000-Allied Minds investee Spin Memory raises US$8.25mln