Coasia Nexell said on Monday that it has received 3.9 billion won in investment from South Korean institutional investors.
These include Cape Investment & Securities and other funds.
A Coasia Nexell spokesperson said the company plans to spend the fund to meet rising demand for SoC design and strengthen its system semiconductor design competence.
The company was also working get additional funding.
Coasia Nexell will also launch its SoC design platform called Virtual Prototype on Cloud soon.
The platform will allow its customers to design Arm CPU-based customer SoC quicker at less cost, the company said.
Coasia is an official partner to Arm and Samsung Foundry. Coasia Nexell is partnered with Samsung on Exynos processor design. It participated in the development of Samsung’s Exynos Auto and Artik brands.