Local chip company Mutant Logic has closed after finding that the technology didn't work as expected. The company had raised $500,000 in angel investments and employed eight people.

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.