Today Appentra announced that the company has raised €1.8M in new funding in a round led by Armilar Venture Partners and K Fund. Appentra is a Deep Tech global company that delivers products based on the Parallelware technology, a unique approach to static code analysis specialized in parallelism. Our aim is to make parallel programming easier, enabling everyone to make the best use of parallel computing hardware from the multi-cores in a laptop to the fastest supercomputers.
During the last months we have been working hand in hand with the new investors, and we are proud to say that they will definitely bring in a strong expertise as international VCs specialized in B2B software companies, which will help us to fully realize Appentra’s vision. The boost in Artificial Intelligence, Internet of Things, Big Data, the development of multicore hardware, along with the democratization of supercomputing capabilities have turned parallel computing into almost the only option to cope with the increasing demand of intensive computing anywhere and anytime. The benefits for our society are clear, for example, in tackling infectious and top prevalence diseases such as cancer, or in the realization of autonomous cars in the future. And now in the COVID-19 era, parallel computing is already playing a key role in the global race towards finding a vaccine to effectively combat the virus and fight against the pandemic worldwide.
Creating high-performance bug-free parallel software that runs 10x to 100x faster is key (even urgent) for companies that today must adopt parallel computing to defend their competitive advantages or create new ones. But accelerating the software runtime through code parallelization and detecting and generating bug-free parallel code is very challenging and time consuming even for developers that are highly skilled in tools, application program interfaces and parallel programming standards. Parallelware Analyzer is the only static code analysis tool in the market that helps enforce parallel programming best practice recommendations in order to prepare the code for parallelization, detect and fix defects (e.g. race conditions), verify data-race free parallel code, discover opportunities for parallelization, and quickly design and implement parallel code. As other professional static code analysis tools, Parallelware Analyzer is designed to seamlessly integrate into DevOps, Continuous Integration and Continuous Delivery environments.
As with many other Deep Tech start-ups and early-stage companies, the team’s biggest upcoming goals are to conduct demonstration pilots with corporations in high-growth IT sectors in specific market segments, and to promote the use of Parallelware Analyzer worldwide in Life Sciences, Consumer Electronics, Electronic Design Automation, Oil & Gas and Automotive.
Since its foundation as a spin-off of Universidade da Coruña, Appentra has been building a reputation as a reliable partner and software supplier among its customers in the United States, Saudi Arabia and Europe. Closing this round of investment successfully has already contributed to improving the confidence and trust of our customers and prospects.
Over the course of the last decade we have been watching how computing architectures are incorporating more (and different) parallel processing units, and yet the vast majority of applications are still being developed under a “standard” sequential coding approach,” said Pedro Ribeiro Santos, a Partner at Armilar Venture Partners. “Parallel code can truly potentiate real-time systems and faster or more elaborate decision models but it is a complex discipline and there is a shortage of skilled parallel developers. Appentra has the potential to be in the driver’s seat of this huge opportunity, helping developers build bug-free parallel code. It is a great example of a unique technology with roots in academia, shaped over more than ten years of research by a great team of founders, addressing a key market need, and backed by a very strong group of investors. It’s with great enthusiasm that we join this journey.”
