Sekhar Research Innovations Sdn Bhd (“SRI”), a Malaysian-based rubber technology research and development company, has received a US$3.15m investment.
Backers include QMA Capital Sdn Bhd and Agensi Innovasi Malaysia.
The company intends to use the funding to further expand the production capabilities of its new rubber devulcanization technology.
Led by Gopinath Sekhar, CEO, SRI has developed devulcanization technology focused on used tyres that combines proprietary mechanical-chemical processes to convert rubber powder or waste into a fully devulcanized rubber compound at a high volume.
For this next phase of growth, the company is now actively seeking companies interested in being licensed to produce its compound.