Rogers Venture Partners (RVP), the $150m corporate venturing unit of Canada-based phone operator Rogers Communications, has invested $5m in Avalanche Technology, a US-based memory chip manufacturer, to complete its $35m series D round.

Will Stewart, general partner at RVP, said: “We have had a long and successful experience investing in Petro Estakhri, Founder/CEO, and the entire team at Avalanche.”

In August, US-based chip manufacturer Qualcomm’s corporate venturing unit Qualcomm Ventures helped Avalanche Technology initially close its D round at $30m.

The deal saw invetment from new investor VTB Capital, the investment unit of the Russia-based bank, as well as full participation from its current investors including venture firms Vulcan Capital, Sequoia Capital, Bessemer Venture Partners, Thomvest Ventures.

Avalanche has raised more than $54m in funding. In January, it received $11.5m in C funding led by venture firm Vulcan Capital, founded by Microsoft co-founder Paul Allen, and was joined in participation…

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