Micron Ventures Fund II Commit

BOISE, Idaho, Might 31, 2022 (GLOBE NEWSWIRE) — Micron Know-how, Inc. ( MU) at this time introduced that its enterprise capital workforce, Micron Ventures, shall be investing $200M in deep tech startups with its Fund II. Micron’s Fund II builds on the success of the preliminary AI-focused Fund I by focusing on broader deep tech improvements. Moreover, to mirror Micron’s dedication to variety, equality and inclusion (DEI) initiatives, 20% of invested capital within the new Fund II shall be geared toward startups led by ladies and different underrepresented teams.

Since its inception, Micron Ventures has made investments in 25 startups, yielding sturdy monetary returns and a number of unicorn corporations inside the portfolio. Micron Ventures has accelerated broad know-how innovation together with in AI-assisted manufacturing, edge safety and autonomous car improvement. Moreover, 25% of the invested capital in Fund I has gone to startups led by underrepresented teams, surpassing Micron’s preliminary 20% goal. Micron Ventures has additionally invested in corporations innovating to carry new inexperienced applied sciences to market which have the potential to additional speed up Micron’s progress towards its sustainability initiatives.

“Investing in startups offers Micron with a deeper perspective on know-how improvements and a view of disruptive concepts on the horizon,” mentioned Rene Hartner, vp of company improvement at Micron. “The longer term shall be constructed on numerous concepts that purpose to handle the world’s most pressing issues – funding the deep tech startup group will propel innovation ahead and assist open doorways to new enterprise alternatives for Micron.”

Micron additionally companions with innovators to supply assist and infrastructure to speed up their success available in the market. Along with anticipated future monetary returns, Micron has already gained a number of strategic advantages reminiscent of accelerating the adoption of AI applied sciences to scale back manufacturing prices, advancing our world go-to-market capabilities with Cloud Service Suppliers and additional strengthening {our relationships} inside the world automotive worth chain.

“Micron has offered direct assist in executing Multiscale’s imaginative and prescient to optimize the supplies discovery and manufacturing processes,” mentioned Vasu Kalidindi, co-founder and chief govt officer of Multiscale. “Collaboration with Micron enabled us to create a complicated platform for supplies innovation. By using precise Micron use circumstances, we have been capable of fail quick and course appropriate or rapidly determine methods that labored, all of which helped to speed up the training course of.”

“Micron has been tremendously supportive of the corporate through the ups and downs of our journey, together with the turbulence brought on by the pandemic,” mentioned Jonathan Ng, founder and chief govt officer of Iterative Scopes. “Fund II is an affirmation that Micron is a implausible long-term companion for corporations like us who’re targeted on constructing breakthrough improvements in our respective fields.”

Early-stage fairness investments are a key element to Micron’s innovation technique and never solely present key market and ecosystem insights, but in addition assist the corporate’s mission to drive fairness, sustainability and higher outcomes for all. Startup founders and leaders with a powerful imaginative and prescient and who need to problem the established order by means of science and know-how, can study extra about Micron Ventures right here.

About Micron Know-how, Inc.
We’re an business chief in progressive reminiscence and storage options reworking how the world makes use of info to complement life for all. With a relentless give attention to our clients, know-how management, and manufacturing and operational excellence, Micron delivers a wealthy portfolio of high-performance DRAM, NAND and NOR reminiscence and storage merchandise by means of our Micron® and Essential® manufacturers. Every single day, the improvements that our individuals create gas the information economic system, enabling advances in synthetic intelligence and 5G functions that unleash alternatives — from the information heart to the clever edge and throughout the consumer and cell person expertise. To study extra about Micron Know-how, Inc. ( MU), go to micron.com.

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Micron Ventures Fund II Commit