Silecs International Pte Ltd, a developer and manufacturer of advanced Siloxane polymers, closed a US$16m Series E financing round.
The round was led by Singapore’s global fund, EDB Investments Pte Ltd, with participation from Tempo Capital Partners, Innovations Kapital, and Finnish Industry Investment.
The company intends to use the funds to expand its research, production, and customer support capabilities from its traditional base in Finland (Espoo) into Asia, where it has established its new corporate headquarters in Singapore.
Led by CEO Mr. Teo Kok Whee, Silecs International Silecs develops and produces advanced polymers for use in semiconductor mask-making, fabrication and packaging, as well as in displays and solar applications. The company has major customers in Korea, Taiwan, Japan, Singapore, the US, and Europe.
In conjunction with the funding, Ms. Chu Swee Yeok, CEO of EDBI, joined Silecs’ Board.