(plural fundas or fundae or fundaes)
Whilst fundaes and fundae both occur as the plural of funda, fundas is far more widespread. The pluralization to fundae is by analogy to formula/formulae. The pluralization to fundas is by the simple addition of -s.
The word is frequently used in Indian quizzing circles to denote the interesting fact or concept behind a question.
Over the past few years, funda / fundae has morphed into an irreverent term, implying an abstract and impractical statement used to coverup one's ignorance of the topic at hand. This form of usage is particularly prevalent in Indian information technology sector. Ex: My manager is giving "funda" [instead of talking about the actual issue]
Contraction of fundamental, originating in Indian English.