Plunify, which makes chip design cheaper, faster and mobile, raises USD 484k from Get2Volume and NRF

Plunify, a Singapore startup that brings microchip design to the cloud, announced this week that it has raised seed funding of SGD589k (USD484k) from Get2Volume and the National Research Foundation (NRF).

Get2Volume is an early stage technology investor and incubator, while NRF is a government organization that promotes R&D in the country.

Chip design is an inherently complex process requiring sizable computing power. What Plunify does is offload some of the most demanding tasks to the cloud, which can complete these tasks faster than traditional methods due to its parallel computing capabilities and flexibility.

Plunify claims that because these tasks are automated, broken down and run simultaneously in the cloud,  processes that takes days can be shortened to a few hours. And because the computational heavy lifting is done elsewhere, chip designers can initiate them while traveling or working at a remote site.

The shorter time spent and reduced computing requirements result in cost savings.

Plunify is designed specifically for field-programmable field arrays (FPGA), which are integrated circuits that can be programmed after they are manufactured.

The startup’s solution comes in several forms. Designers can either work with a desktop client, which integrates with their existing tools, or they can run a web interface, which works from a browser on any computer. It is also available as a software plugin.

Prior to this round of funding, Plunify had received support from TECS, a government initiative by SPRING Singapore to catalyze the growth of startups with strong intellectual property and scalable business models.

Get2Volume, headquartered in Singapore, focuses on investing in and mentoring innovative B2B, microelectronics startups. It belongs to the NRF’s Technology Incubator Scheme, which means its investments will be matched by the government.

Get2Volume has also been focusing on the secure payments and business transactions space. Examples of such technologies include NFC, EMV-based and other chip payment solutions, as well as authentication services.

To build up its ability to help promising entrepreneurs in this field, it has enlisted the help of Matt Quinlan, CTO of Visa, who has joined Get2Volume as an advisor and mentor.

The firm has funded its first business transactions company, Sprooki, which made a mobile app that lets shoppers find out the latest deals near them, purchase the products in-app, and redeem them at the store (read our product review).

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