Allied Minds had invested over $50m in New York University RAM technology spinout Spin Memory, which has decided to liquidate its assets to pay creditors.
Spin Memory, a US-based random-access memory (RAM) technology developer spun out of New York University, has decided to liquidate.
Commercialisation firm and Spin Memory shareholder Allied Minds announced on Wednesday the company had faced “significant liquidity issues” resulting from challenges in customer acquisition and the covid-19 pandemic.
Spin Memory had been developing RAM data storage technology that uses magnetic states to store information, as opposed to electrical charges. Allied Minds had invested a total of $50.5m for a…
