Software firm Vinci, which speeds up hardware simulation, raises $36 million

Startup Vinci said on Tuesday it has raised $36 million to finance its business of building software that can speed chip and other hardware design by significantly accelerating the simulation of such devices.

The Palo Alto, California-based company’s software is entering a crowded market that has similar artificial intelligence-based simulation products made by established chip software design companies such as Cadence and Synopsys .

Vinci said its simulation software uses an in-house-built AI model to boost the speed of chip simulation.

It will pursue…