Xenergic raises 40 MSEK in new share issue

Photo by Kasper Dalkarl

Xenergic raises SEK 40 million in a new financial round. There was a great interest among the new investors. “We are very proud and happy to see such a great interest in Xenergic and its memory technology. This capital enables us to strengthen the organisation deliver Xenergic’s memory technology to a growing customer group,” comments CEO and researcher Babak Mohammadi.

Xenergic’s innovation is revolutionary in relation to today’s memory solutions. On-chip memories currently occupy over 3/4 of the total area in integrated circuits and consumes more than half of the power consumption. Xenergic memory technology drastically reduces the power consumption and increases the performance of integrated circuits. This results in more functionality and longer battery lifetime. Xenergic enables designers to benefit from highly tailored memories in their unique and specific design needs in numerous technologies.

The need for area efficient and low-power memories ranges from connected devices, mobiles and wearables to automotive and high-speed computation and communication such as datacenters and 5G infrastructure. “Applications such as Internet of Things (IoT) and Artificial Intelligence (AI) require more and more memories with higher bandwidth. At the same time, power consumption should be low. Here our product plays an important role and we get many positive feedbacks from our customers,” says Chairman of the board Anders Berglund and added “We have several interesting discussions with new customers in our sales pipeline that we plan to commercialise in the near future.”

Xenergic is founded in 2017 by researcher Babak Mohammadi and serial entrepreneur Anders Berglund with the support of Lund University’s LU Innovation and Joachim Rodrigues, associate professor at Lund University.

Today, a dozen of experts from 10 different nationalities work at the company’s office in Lund. Last year, Xenergic entered into a strategic partnership agreement with Bosch Sensortec and was also named one of Europe’s best high-tech companies at the Hightech Venture Days (HTVD) event organised by German organisation HighTech Startbahn. One of Xenergic’s advisors is the pioneer and Apple Fellow Rich Page, who founded NeXT computer with Steve Jobs.