Crocus Technology attracts €34m in additional capital

Crocus Technology, a developer of magnetically enhanced semiconductor technologies for mobile security, embedded microcontrollers, harsh environment electronics and magnetic sensors, has raised €34m in additional capital.

Crocus has pioneered the development of Magnetic Logic Unit (MLU), a CMOS-based rugged technology. MLUs are claimed to bring new advantages in speed, performance and security at lower cost to a range of next-generation electronics. It brings high sensitivity, low-noise, high temperature performance to magnetic sensors.

The new funding enables Crocus to qualify its jointly owned fab, Crocus Nano Electronics, and release the first engineering wafers during the summer; and launch a magnetic sensor product line, which leverages the same MLU manufacturing platform technology, in a market expected to reach the $2bn per year mark in the near term.

A new private investor, Industrial Investors, joined the round led by Idinvest Partners. Major investors Sofinnova Ventures, Innovation Capital, Nanodimension and Ventech also participated.