Avalanche Technology, a US-based company specialising in computer memory technology, secured $11.5m on Monday in a round that saw participation from Qualcomm Ventures, the corporate venturing unit for telecom and semiconductor corporation Qualcomm.

The series C round was led by Vulcan Capital, the investment firm backed by Microsoft co-founder Paul Allen, and included contributions from venture capital (VC) firms Sequoia Capital and Bessemer Venture Partners, and VC fund Thomvest Ventures.

The three venture investors previously backed a $7.5m series B round in February 2010. According to its SEC filings, Avalanche has raised a total of $34.3m in equity and $950,000 in debt financing, with boutique equity firm Peregrine Capital and financial services company Sand Hill Capital among its earlier backers.

Avalanche is working on a memory technology, known as Spin Programmable Memory, which promises higher performance and scalability for use in applications covering telecommunications, computing, mobile, and networking verticals. The…

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