Singapore: Plunify raises $2m Series A from Malaysia’s KMP

Singapore-based semiconductor chip design company Plunify Pte. Ltd has raised $2 million in a Series A round from Malaysia-based venture capital firm Kumpulan Modal Perdana (KMP).

Plunify will use the funds to scale its sales and technical support channels, and extend its marketing reach to promote its InTime software and educate FPGA design companies on how to use InTime to solve design issues, according to a release.

InTime, for example, is a timing closure acceleration software that assists companies from Huawei to Fiberhome in solving timing closure issues without needing engineers to change their code. According to the firm, InTime uses machine learning and analytics to determine the best strategies companies should take.

“What we see in Plunify is something well ahead of current solutions in terms of the innovation and problem-solving capabilities that the company is bringing to market,” said Shahril Anwar, CEO at KMP.

KMP primarily focuses on companies in the IT, computer-related, telecommunications, media and entertainment, electronics, advance material and biotech and life sciences space. It has established four funds: Perdana Fund, which looks at pre-IPO and high growth firms; Perdana International Fund, which targets US-based high growth high tech companies; Plug & Play Technology Holdings Sdn Bhd, which accelerates local startups; and the Electronics & Electrical Fund, which focuses on growing companies with high growth visibility within the said space.

“Every design is unique in its merits and also in its flaws,” said Harnhua Ng, CEO at Plunify. He added, “Our algorithms and data models exploit such insights to solve customers’ problems… KMP is extremely supportive and is providing invaluable resources and advice on scaling our operations worldwide. We welcome their experience and advice.”

Currently, Plunify has its headquarters based in Singapore, and has offices in the US, Israel, China and Japan as well.

The company is said to have raised an undisclosed amount of funding from Lanza techVentures in 2014.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.