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Nagare Labs raises $5 million seed for Z2RAM oxide memory

The Die Brief Desk, after theregister.com

Playground Global, where Pat Gelsinger is a partner, is helping bankroll a $5 million seed round for Nagare Labs' Z2RAM oxide memory.

Z2RAM
seed funding$5 million
densityupwards of 5x that of SRAM
tile capacity example320 MB in 64 MB SRAM tile space
cell structuretwo transistors
sampling goalwithin the next four years
production goalwithin the next decade

Z2RAM is built on oxide semiconductors, using two transistors where the second one's gate capacitance stores the charge. The goal is SRAM-like bandwidth at up to 5x SRAM density.

Where a 64 MB SRAM tile sits, Z2RAM promises 320 MB in the same footprint. No measured latency, power, yield, or interface timing appears in the document.

For a fab, the oxide process and 3D hybrid bonding are the cost questions. Atomic vacancies can shift threshold voltage and upset cells.

What remains unmeasured is whether the 5x density survives stacking, whether non-destructive reads hold under thermal and radiation stress, and whether an open interface can replace AMD's proprietary V-Cache path.

Shifted the lead from the money to the investor, restructured the body around the technology rather than the round, and tightened the title to name the seed specifically.

After theregister.com. We did not report this. The pictures, if any, are theirs.

October 26, 2026 · 1 min
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