Los Gatos, Calif. -- OneSpin Solutions, a German EDA company with U.S. offices in Los Gatos, said on Thursday it has raised an unspecified amount of new funding from majority shareholder Azini Capital. The company said it will use the funds to expand its portfolio of tools for the formal verification and equivalence checking of chip and system designs. OneSpin also has named Raik Brinkmann, who joined the company at its inception in 2005, as its new president and CEO. He succeeds Peter Feist. "The new funding will enable us to address this significant market opportunity by developing and providing easy-to-use formal solutions targeted at specific, well-defined verification challenges, giving new adopters an easier and faster entry into the use of formal methods," said Brinkmann. U.K.-based Azini acquired a majority stake in OneSpin in Jan. 2011.