It was backed by venture capital firms such as Sevin Rosen Funds and Matrix Partners to pioneer non-volatile solutions based on Spintronics.
[1] After receiving initial seed fundings, the company started to hire new employees to expand its operations.
Tabrizi, together with first-tier venture capitalist Steve Dominik, played an instrumental role in establishing and maintaining strategic partnerships with important partners such as Hynix and Renesas.
Grandis invented the first spin-transfer torque thin film structures based on magnetic tunnel junctions and quickly became the leader in the STT-RAM space.
Grandis technology sought to address the problems of write selectivity and speed, low read signal, and thermal stability from which other products in the Magnetic Random Access Memory (MRAM) industry suffered.