Chip Estimate, a chip design software start-up based in Cupertino, said it has raised $3.5 million in a second round of venture capital.

ITU Ventures, which helped seed the company, led this second round. The start-up has raised $5.5 million in total since its founding in 2003, the company said. It launched last year, and says it has had at least 9,000 users design chips with its software. More details here.

The venture firm ITU has recently seen controversy concerning its political activities.