【Press release】Raises 1.05 Billion Yen in Series D financing.
Summary
Embedded Flash memory developer Floadia has raised 1.05 billion yen from INABATA and othersFloadia Corporation (hereinafter referred to as Floadia), which develops embedded flash memory IP cores based in the Tokyo suburb of Kodaira-shi, has raised approximately 1.05 billion yen in Series D round.As a first closing, Inabata & Co., Ltd. (hereinafter Inabata) headquartered in Chuo-ku, Osaka, and Cypress Capital, a Hong Kong investment company, underwrote an allotment of capital for a total of 850 million yen. Including the 200 million yen raised through venture debt (loan with stock acquisition rights) from Japan Finance Corporation in March 2023, the total amount raised in this round was approximately 1.05 billion yen.Floadia will use the funds raised to strengthen sales activities promoting its current primary business, embedded flash memory IP cores, to semiconductor manufacturers, and to enhance developing ultra-low power consumption AI accelerator chips that utilize flash memory devices. G1, the first flash memory IP developed by Floadia, has been used in microcontrollers at Toshiba Electronic Devices & Storage Corporation, and passed quality standards that allow data retention for 10 years at 125 C after 10,000 Program and Erase operations at Taiwanese foundry TSMC. Floadias flash memory solves these issues with analog memory technology and enables advanced AI inference calculations in edge environments with significantly low power consumption.Floadia has so far received approximately 3.9 billion yen from INCJ (Japanese government fund), UMC Capital (Taiwan), an affiliated company of major foundry UMC, Faraday Technology (Taiwan), a cutting-edge semiconductor design company, and Teijin Limited, a major Japanese chemical firm. Because of these features, G1 has already been installed in automotive microcontrollers by domestic semiconductor manufacturers and has also been adopted by a foundry in Taiwan, where it is used as embedded memory in smartphone components.