Siloxane polymer manufacturer Silecs International has closed a new Series E round of funding totalling US$16 million. Financing was led by Singapore-based global investment fund, EDB Investments (EDBI), which was joined by European groups Tempo Capital Partners, Innovations Kapital, and Finnish Industry Investment.
The past two years has seen Silecs treble its revenues and the Finnish company will use this latest funding to develop the research, production, and customer support divisions at its new corporate headquarters in Singapore. Silecs’s R&D operations will also benefit from an agreement to work alongside A*STAR's Institute of Microelectronics in southern Singapore.
“Today, we also acknowledge the confidence shown by both our current investors and EDBI. This new funding will greatly enhance Silecs' global operational capabilities, and accelerate our technology development to address the fast-emerging needs of electronic world, especially that of advanced packaging and opto-electronic applications,” Silecs CEO Teo Kok Whee said.
“Silecs' traction with its customers is notable, given the stringent qualification cycle of the semi-conductor industry. Locating its global headquarters and production capabilities in Singapore will significantly strengthen its Asian presence… Silecs will also be able to leverage EDBI's international networks to become a leading player in the electronic materials sector,” Chu Swee Yeok, EDBI’s CEO, added.