Mutant Logic, the El Dorado Hills startup, which has developed software that allows makers of integrated circuits to analyze chip designs has secured $500,000 in funding from local angel investors. In addition, the company has signed a licensing deal with UCD, a milestone for a campus that's been pushing to convert its research into commercial ventures. Bob Bennett, formerly of Sharewave, was hired as the CEO last November. Bennett says as much as 70 percent of the design process involves "verification" of the chips' integrity. "We think our product can cut that verification time in half," he says. The founders are former UCD grad students Jorge Campos, Brian Hoblit and Ben Mok, who met while studying at UCD's Center for Entrepreneurship. Mutant Logic has received support and guidance from El Dorado Hills Technology Incubator.