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§ Private Profile · Santa Clara, CA, USA
Semiconductor firm manufacturing high sensitivity, low power TMR magnetic sensors for automotive, industrial, and IoT markets.
Crocus Technology is a Milpitas, California-based semiconductor company that develops and manufactures integrated magnetic field sensors utilizing advanced Tunnel Magnetoresistance technology. The company provides high-sensitivity, low-power sensor solutions for original equipment manufacturers and tier-one suppliers across the automotive, consumer electronics, industrial, and medical Internet of Things markets. Operating with a workforce of approximately 75 to 85 employees and an intellectual property portfolio of over 200 patents, the firm maintains an additional research and development facility in Grenoble, France. Under the leadership of executives including President and Chief Executive Officer Zack Deiri, Vice President of Technology Development Ken McKay, and former Chief Executive Officer Jean-Pierre Braun, the business scaled its operations. In October 2023, the venture-capital-backed enterprise was officially acquired by Allegro MicroSystems in a cash transaction valued at $420 million. Crocus Technology was originally founded in 2004.
Crocus Technology has raised $158.5M across 7 funding rounds.
Crocus Technology has raised $158.5M in total across 7 funding rounds.
Crocus Technology has raised $158.5M in total across 7 funding rounds.
Crocus Technology's investors include CEA Investissement, Idinvest Partners, Industrial Investors, Innovation Capital, NanoDimension, Rusnano, Sofinnova Ventures, Ventech, AGF Private Equity.
Crocus Technology has raised $158.5M across 7 funding rounds. Most recently, it raised $35.0M Other Equity in April 2018.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Apr 25, 2018 | $35M Venture Round | — | — | Announced |
| Jun 16, 2015 | $21.4M Venture Round | — | CEA Investissement, Idinvest Partners, Industrial Investors, Innovation Capital, NanoDimension, Rusnano, Sofinnova Investments, Ventech | Announced |
| Jun 1, 2015 | $21M Series E | — | NanoDimension | Announced |
| Jul 1, 2013 | $44M Series D | Idinvest Partners | NanoDimension, Industrial Investors, Innovation Capital, NanoDimension, Rusnano, Sofinnova Investments, Ventech | Announced |
| May 11, 2010 | $10.2M Venture Round | — | AGF Private Equity, CEA Investissement, Innovation Capital, NanoDimension, Sofinnova Investments, Ventech | Announced |
| May 1, 2010 | $11M Series C | — | NanoDimension | Announced |
| Oct 1, 2008 | $16M Series B | — | NanoDimension, AGF Private Equity, Innovation Capital, NanoDimension, Sofinnova Investments, Ventech | Announced |
Crocus Technology is a semiconductor company specializing in the design, manufacture, and supply of advanced magnetic sensors based on its patented XtremeSense® tunnel magnetoresistance (TMR) technology. Its products serve diverse sectors including green energy, robotics, electric vehicles, automotive, industrial automation, and IoT devices. Crocus’ sensors enable precise measurement of motion, speed, position, and current with advantages such as high sensitivity, low power consumption, and stable performance across temperatures. The company was acquired by Allegro MicroSystems in 2023, which aims to leverage Crocus’ technology to strengthen its position in magnetic sensing markets related to e-mobility, clean energy, and automation[1][2][4][5].
Founded in 2004 in Grenoble, France, Crocus Technology emerged from research at the Spintec laboratory focused on spintronics and magnetic sensor technology. Initially, the company developed Magnetic Logic Unit (MLU™) technology for MRAM memory but later pivoted to focus exclusively on integrated magnetic sensors. It relocated its headquarters to California, moving from Santa Clara to Milpitas in 2022. A pivotal moment was the launch of its first magnetic sensor product in 2015 and the subsequent acquisition by Allegro MicroSystems in 2023 for $420 million, marking a significant milestone in its growth and market integration[2][4][6].
Crocus Technology rides the wave of increasing demand for advanced sensing solutions driven by electrification, automation, and IoT proliferation. The timing is critical as industries such as electric vehicles, renewable energy, and Industry 4.0 automation require highly accurate, low-power, and compact sensors to optimize performance and efficiency. Crocus’ TMR sensors address these needs by enabling better control and monitoring in these applications. Its acquisition by Allegro MicroSystems reflects broader consolidation trends in semiconductor sensing technologies, aiming to accelerate innovation and deployment in strategic markets like e-mobility and clean energy[1][4].
Going forward, Crocus Technology’s integration into Allegro MicroSystems positions it to scale its TMR sensor technology across a wider range of applications, especially in automotive electrification and industrial automation. Trends such as the global shift to electric vehicles, smart grids, and Industry 4.0 will shape its growth trajectory. The company’s influence is likely to expand as magnetic sensing becomes more critical for precision control and energy efficiency. Continued innovation in sensor miniaturization, power efficiency, and integration will be key to maintaining its competitive edge and driving broader ecosystem adoption of TMR-based solutions[4][5].