Crocus Technology - Experts & Thought Leaders

The new capital will enable Crocus to deploy the strategy for its sensor product line in the key target markets Crocus Technology, the supplier of magnetic sensors and embedded memory solutions designed with Magnetic Logic Unit™ (MLU) technology, recently announces it has secured $21M (€19M) in funding. All of Crocus’ historical French and international investors participated in the round, cementing their solidarity and long-term commitment: NanoDimension, Innovation Capital, IdInvest Partners, Ventech, Sofinnova, CEA Investissement, Rusnano and Industrial Investor Group. Kreos Capital also backed the round because of Crocus’ strong prospects. It is the second time that this growth debt provider has helped finance Crocus’ MLU strategy. The upswing in prospects stems from the important performance advantages that Crocus’ proprietary MLU technology, a disruptive CMOS-based rugged magnetic technology, brings to its magnetic sensors. Crocus’ magnetic sensors have significant attributes that support applications where high sensitivity, high temperature, low noise and low cost are key, such as smart metering, power management and solutions for IoT (Internet of Things). Crocus began producing MLU-based magnetic sensors in mid-2014. Since then, the business line has experienced a sizeable increase in its global customer base, upwards of 250 new customers. The company aims to further develop its sensor business line to address a global market expected to grow from $1.48 billion in 2014 to $1.87 billion by 2018 (IHS Technology, Magnetic Sensor Market Tracker 2015). The new capital will enable Crocus to:  Deploy the strategy for its sensor product line in the key target markets: industrial, consumer electronics, automotive and solutions for IoT Strengthen its commercial resources, including finalising a distribution network in Asia and reinforcing the support team Develop new designs to enrich the product portfolio with integrated sensor and smart sensor applications “This funding is a testament to the trust our shareholders hold in the vast potential of our MLU technology and its ability to satisfy the demands of the sensor market,” said Michel Desbard, CEO of Crocus Technology. “For the last few months, the team has made a very big push to raise important customer interest in our sensors. This effort is paying off. The sensor business line is taking off with a growing pipeline. We are planning for a first break-even quarter in Q1 2016.” Founded in 2004, Crocus has raised $194M (€180.3M) to date. Michel Desbard, who has served as Crocus’ shareholder representative for Innovation Capital for eight years, took over the role of CEO of Crocus Technology in November 2014.

Valid will supply Crocus’ CT32MLU1200 and CT32MLU_LTE MLU technology products in Brazil Crocus Technology S.A., a leading developer of magnetically enhanced semiconductor technologies for mobile security, embedded microcontrollers, harsh environment electronics and magnetic sensors, recently announces that it has signed an agreement with Valid, one of the largest suppliers of smart cards in Brazil, to supply its microcontroller products, CT32MLU1200 and CT32MLU_LTE. These products bring important new advantages to next-generation smart cards for communication, mobile payments, access control, tag reading and other critical applications needing enhanced security and faster performance. Crocus will deliver development tools and samples to Valid early next year. Valid, which owns subsidiaries in Spain, Argentina and the USA that provide payment, telecom and ID solutions, plans to test the performance of CT32MLU1200 and CT32MLU_LTE for future integration in Valid’s broad product portfolio, with the aim of rolling them out from Q3 2014. Valid selected Crocus’ CT32MLU1200 and CT32MLU_LTE to use its new disruptive Magnetic Logic Unit(TM) (MLU) technology that brings high performance and better security compared to existing microcontrollers traditionally used in smart cards. Financial details about the agreement were not disclosed. “Valid is among the leading smart card makers in Brazil. We are pleased that it has selected Crocus to supply secure microcontrollers to develop its next-generation smart card,” said Alain Faburel, VP security business at Crocus Technology. “Brazil is a growing market for secure transactions and 4G. Our CT32MLU1200 and CT32MLU_LTE products bring the much needed robust level of security, performance and cost-effective solutions to help NFC and LTE market deployment.” This contract is one of a growing line of smart card supplier agreements Crocus has signed among early adopters of its MLU technology products. Crocus exhibited at the recent CARTES Paris, 19 – 21 November.

Crocus currently holds 154 patents and licenses its technologies to foundries and design houses around the world Crocus Technology S.A., a leading developer of magnetically enhanced semiconductor technologies for mobile security, embedded microcontrollers, harsh environment electronics and magnetic sensors, recently announced the company has filed a petition with the US Patent and Trademark Office for Inter Partes Review against US Patent 6,980,469 high speed low power magnetic devices based on current induced spin-momentum transfer, which is included in the patent portfolio held by Spin Transfer Technologies Inc. (STT). The aim of Crocus’ petition is to cancel all or part of said patent. Crocus explains in the petition that the patent at issue describes a technology already included in prior art, in particular in the patent portfolio of Crocus, a portfolio that includes STT technology (Spin Torque Transfer). The aforementioned technology that Crocus has already patented makes advanced non-volatile memory blocks more efficient. It is ideal for producing highly robust and secure embedded memory more easily. In addition, it enables customers to develop magnetic sensors that bring high sensitivity, low-noise and high temperature performance, amongst other advantages in high demand. Crocus has invested significantly in developing this technology. The associated products will have a major impact on the market. Crocus currently holds 154 patents. It licenses its technologies to foundries and design houses around the world. These include Towerjazz, a global specialty foundry, which is helping speed the adoption of Crocus’ non-volatile memory (NVM) and magnetic sensor technologies in the fast growing magnetic markets. “Crocus Technology has built a strong IP portfolio of technologies used to improve the performance and cost of next-generation micro-controllers, embedded memory and magnetic sensors,” said Bertrand Cambou, executive chairman and CEO of Crocus Technology. “We’ve invested heavily over the last nine years to develop the technology, its manufacturing processes and the ecosystem. Our strong portfolio of patents covers the design and manufacturing of the Magnetic Logic unit (TM) (MLU) as well as generic technologies like STT (Spin Torque Transfer). So, Crocus will take all the necessary steps to protect its IP and thus not hesitate to assert its rights pursuant to applicable law.”