Singapore’s EDBI (EDB Investments) has invested in Silecs International, a venture-backed developer and manufacturer of advanced Siloxane polymers that is based in Finland, as the part of Silecs’ new USD 16M (SGD 19.6M) Series E financing round.
EDBI is the corporate investment arm of statutory board, Economic Development Board (EDB). EDBI focuses on Biomedical Sciences, Clean Technologies, Internet and Digital Media, as well as other strategic industry clusters with commercial potential.
Ms. Chu Swee Yeok, CEO of EDBI says, “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, while its synergistic collaboration with A*STAR’s Institute of Microelectronics will advance its Siloxane polymers as enablers for a wider range of applications, including in clean technology. Silecs will also be able to leverage EDBI’s international networks to become a leading player in the electronic materials sector.”
Silecs has established its new corporate headquarters in Singapore as part of their expansion strategy into Asia with additional research, production, and customer support capabilities.
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