Nantero raises $31.5 million for chip technology


Nantero, a memory chip company based in Woburn, has raised $31.5 million to develop and market its high-performance chips for use in computers, phones, and tablets.

The company said Tuesday it raised the funding from a group of new and existing investors including local funders Charles River Ventures and Globespan Capital Partners. Nantero is developing a memory technology called NRAM that uses carbon nanotubes to boost its performance.

“With Nantero’s NRAM, the wait for a new generation of super-fast, high-density non-volatile memory is over,” said Greg Schmergel, the company’s chief executive, in a statement. “We are excited to begin the next phase of commercialization which will bring Nantero’s NRAM into volume production and change the course of electronics innovation for decades to come.”

Nantero has made more than $50 million in revenue since its founding in 2001, according to a spokeswoman, and employs 50 people between its Woburn headquarters and its Silicon Valley location. Its business model is to license its patented chip technology to manufacturers and electronics companies, according to its website. Currently, the company says it is working with more than a dozen major manufacturers.