New York University and Allied Minds teamed up in 2011 and established Spin Transfer Technologies (STT) to develop and commercialize its spin transfer magnetoresistive random access memory technology. The technology was originally developed from the mesoscopic magnetism research conducted in the laboratory of Professor Andrew Kent. Dr. Kent’s research into spin transfer induced reversal of magnetization orientation showed that switching magnetic orientations can be accomplished much faster than in conventional spin transfer approaches. This discovery has significant implications for the development of spin transfer MRAM devices, including faster switching times, lower switching energy, higher write endurance and greater scalability to smaller dimensions. STT was incorporated in 2011 and established its headquarters in Fremont, CA. The company built a world-class magnetics team and completed the development of its clean-room magnetics R&D fab in late 2015. STT’s magnetics fab has enabled the company to rapidly progress its technology, and to run numerous experiments to understand the complexities of perpendicular Magnetic Tunnel Junctions (pMTJs) as they scale below 30nm.

In addition to magnetics development, STT realized very early that sophisticated circuitry was necessary to achieve the highest performance and endurance from pMTJ devices.  Synergistically merging magnetics and CMOS technologies has enabled STT to achieve far better performance than could be achieved by each technology independently.  STT has developed fundamental circuit and controller technology that enabled pMTJ devices – whether from STT or others – to leap from ~108 cycles of endurance to ~1015 cycles – enabling ST-MRAM to now replace SRAM and DRAM technologies.

STT has raised a total of $108 million from investors in multiple funding rounds.  The company has built a team of industry-leading experts in magnetics and memory technologies, and continues to have a close collaboration with NYU and Professor Andrew Kent.