Chip Estimate Gets $3.5M

Cupertino-based Chip Estimate, a firm that provides EDA tools used for chip planning, said that it has raised $3.5M in an expansion financing. The round was led by ITU Ventures. According to Chip Estimate, the firm has now raised $5.5M. Chip Estimate develops software that is used by semiconductor chip designers, to manage projects before the start of EDA and IC design cycles. In particular, the firm's software is used during the chip size, power and cost estimates cycle. Chip estimate said the funding will be used to fund working capital and accelerate its product roadmap. More information »