POLYTEDA CLOUD is pleased to announce the signing of the Grant Agreement with the European Commission (EASME). POLYTEDA CLOUD is receiving €1,220,888 financing for a 2-year project “Innovative Cloud-Based PV Workflow for Semiconductor Foundries” that will contribute to restoring the competitiveness of European microelectronics industry. Within this project, POLYTEDA CLOUD will adjust and customize its product, introduce new cloud business model and enter the European market.
Alexander Grudanov, POLYTEDA CLOUD CEO, noted: “European Union financing validates the domain expertise of our team and serves as a proof of excellence of our innovative product, as well as an endorsement for our business model to disrupt the traditional EDA market. Horizon 2020 financing will help us to create a competitive global company, provide access to industry partners and win new customers.”
POLYTEDA CLOUD competed with 259 companies from all over the Europe and was selected for funding as an innovative company. POLYTEDA CLOUD is the first and only company from Ukraine to receive financing under the highly competitive Horizon 2020 SME Instrument Phase 2. Borsch Ventures provides business development expertise and fundraising assistance to POLYTEDA CLOUD.
About Horizon 2020
Horizon 2020 is the biggest EU Research and Innovation programme with nearly €80 billion of funding available over 7 years (2014 to 2020). Horizon 2020’s SME Instrument is dedicated to funding innovative businesses to create a European Champions League for innovative companies and start-ups.
About POLYTEDA CLOUD
POLYTEDA CLOUD, headquartered in Kyiv, Ukraine, develops cloud-ready PV-workflow based on the fastest and most accurate flat engine in the market with hierarchical and multi-CPU capabilities. POLYTEDA CLOUD introduces an innovative, new business model to the traditional EDA industry. PowerDRC/LVS addresses the complex “physical verification” stage of microchip design, critical before the actual manufacturing at the semiconductor foundry.
About Borsch Ventures
Borsch Ventures manages a portfolio of high tech companies in industries such as smart agriculture, defense & security, microelectronics and electronics, nanotechnologies and IT. Borsch Ventures provides seed capital, technical and business expertise, and facilitates access to financial instruments.
Alexandra Nazola, Communications manager
Phone: +38 096 780 86 98