Lund University spinout Xenergic has been backed by LU Holding to deliver power-saving technology for computer memory circuits.
Xenergic, a Sweden-based computer memory technology spinout of Lund University, has obtained Skr8m ($890,000) in capital from investors including the university’s commercialisation arm LU Holding , Nordic9 has reported.
Venture capital firm Almi Invest contributed $220,000 to the round, which also featured VC firm Quinary Investment and Xenergic co-founder Anders Berglund.
Founded in 2017, Xenergic is developing a power-saving technology for on-chip computer memory circuits, known as static random-access memory (SRam), used in devices such as smartphones to cache CPU information or images from LCD screens.
Xenergic expects its technology to reduce SRam power consumption by up to 90%, consequently helping manufacturers improve battery life. The funding will support product development as Xenergic prepares to look for commercial partnerships.
Babak Mohammadi, CEO of Xenergic and an alumnus of Lund University, co-founded the company alongside Joachim Rodrigues, a senior lecturer at the university’s Integrated Electronic Systems unit, and entrepreneur Anders Berglund.
