24 Jul 2018
Maiden investment of S$0.3 million in a convertible loan in Singapore-based semiconductor chip design company, CLOP Technologies Pte. Ltd. CLOPTech is a spin-off company from A*STAR, a Singapore Government-funded research agency, and a portfolio company of early-stage tech investor, “IncuVest” and semiconductor/hardware start-up accelerators, “Silicon Solution Partners” in Singapore, and “Silicon Catalyst” in Silicon Valley, USA. The investment is part of Excelpoint’s strategy to invest in, support and collaborate with early- to mid-stage start-ups in Singapore and Asia that are related to the Internet of Things ecosystem.
Mr. Albert Phuay Yong Hen, Chairman and Group Chief Executive Officer of Excelpoint, said, “We are very excited for this investment and partnership with CLOPTech. Our team sees the potential and strengths of CLOPTech’s capabilities in semiconductor chip design, particularly their focus on wireless connectivity, which will provide a strategic edge within the growing IoT ecosystem. With the establishment of PlanetSpark, we look forward to supporting and accelerating the growth of innovative and high-potential start-ups, where their technical capabilities and technological solutions can complement what Excelpoint has been offering over the years, and together, we can create positive impacts across global markets.”
“Excelpoint is a well-established and prominent electronics industry player in this region. We are equally excited to partner with them and deliver technologies and solutions to address the Global Smart Cities and IoT industry,” said Mr. Albert Chai, Chief Executive Officer of CLOPTech.
For more information, please refer to the announcement published by Excelpoint.