January 23, 2012

Avalanche Technology, a maker of spin torque memory, yesterday announced that it has received $11.5 million in funding from Sequoia Capital, Bessemer Venture Partners, Thomvest Ventures, Qualcomm Ventures, Leader Ventures and Vulcan Capital.

The company is making a non-volatile memory called Spring Programmable Memory (SPMEM), which is targeted to the telecommunications, computing, mobile and networking space, where high data reliability and performance are necessary.