Appentra closes a €1.8M investment round co-led by Armilar

Over the course of the last decade, Armilar has been closely watching how computing architectures are incorporating more — and different — parallel processing units. Although this is becoming a prevalent solution in the high-performance computation field, most applications are still being developed under a “standard” sequential coding approach, which is not ideal.

Parallel code can truly potentiate real-time systems and create faster or more elaborated decision models, but it is a complex discipline and there is a shortage of skilled parallel developers. And even for experienced professionals, generating a bug-free parallel code is very challenging and time-consuming.

This is where Appentra, the brilliant spin-off of the Universidade da Coruña which closed a 1.8 million-euro investment round co-led by Armilar and KFund, can take the driver’s seat on this market opportunity. The deep tech startup developed the Parallelware Analyzer, 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, verify data-race free parallel code, discover opportunities for parallelization, and quickly design and implement parallel code.

According to Pedro Ribeiro Santos, our partner, “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 is with great enthusiasm that we join their journey.”

The team’s biggest upcoming goals are to conduct demonstration pilots with corporations in high-growth IT sectors in specific market segments. Life Sciences, Consumer Electronics, Electronic Design Automation, Oil & Gas and Automotive are some of the industries that the startup is focusing on. Appentra already has customers in geographies such as the United States, Saudi Arabia and Europe.

The investment round, which had the participation of Caixa Capital Risc, Xesgalicia and Unirisco, will be used to further develop Appentra’s business and, according to Manuel Arenaz, CEO and co-founder of the startup, closing this round successfully “has already contributed to improving the confidence and trust of our customers and prospects.”

Appentra will soon grow its team. If you’re interested in joining a high-potential startup, click here.