Excelpoint’s Wholly-owned Subsidiary, PlanetSpark, Undertakes Maiden Investment in Singapore-based Chip Design Company, CLOP Technologies
- Maiden investment of S$0.3 million in a convertible loan in Singapore-based semiconductor chip design company, CLOP Technologies Pte. Ltd. (“CLOPTech”).
- 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 (“IoT”) ecosystem.
SGX mainboard-listed Excelpoint Technology Ltd. (“Excelpoint” or “the Group”), is pleased to announce that its wholly-owned subsidiary, PlanetSpark Pte. Ltd. (“PlanetSpark”), the Group’s entrepreneurial and investment arm, has undertaken its maiden investment of S$0.3 million in CLOPT ech, a Singapore-based company with deep technology know-hows, design experience and intellectual properties in semiconductor chip design.
Established in 2015, CLOPTech has global business partnerships with foundries, equipment manufacturers and technology providers. Their intellectual-property protected commercial chipset product, CT6100 – 60GHz baseband, has been customised for use in long-range wireless infrastructure products, and it has secured lead customer orders for product design integration.
As a leading regional business-to-business platform providing quality electronic components with integrated research and development capabilities, Excelpoint has been an integral part of the global electronics technology value chain for more than 30 years.
Recognising that IoT applications are expected to be integrated into communities (such as Smart Cities and Smart Homes among others) in the near future, Excelpoint has made a strategic focus to broaden its business model with this emerging market segment.
Starting with an investment commitment of S$5 million, PlanetSpark targets to identify and invest in IoT innovators and start-up activities, focusing on the development of viable technological products and solutions that caters to the growing market opportunities related to the global IoT ecosystem.
With Excelpoint’s extensive business presence and networks within the Asia Pacific region, together with its emphasis on innovation, PlanetSpark is positioned as a platform for these start-ups in Singapore and Asia to accelerate their growth and stay ahead of the innovation curve in the global electronics and technology industries.
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.
About Excelpoint Technology Ltd.
Excelpoint Technology Ltd. (“Excelpoint” or “the Group”) and its subsidiaries are a leading regional business-to-business platform providing quality electronic components, engineering design services and supply chain management to original equipment manufacturers (“OEMs”), original design manufacturers (“ODMs”) and electronics manufacturing services (“EMS”) in the Asia Pacific region. EBN, a premier online community for global supply chain professionals, recognised Excelpoint Technology Ltd. as one of its Top 25 Global Electronics Distributors in 2017.
Excelpoint works closely with its principals to create innovative solutions to complement its customers’ products and solutions. Aimed at improving its customers’ operational efficiency and cost competitiveness, the Group has set up research and development centres in Singapore and China that are helmed by its dedicated team of professional engineers.
Established in 1987 and headquartered in Singapore, Excelpoint’s business presence spans more than 10 countries across Asia Pacific with a workforce of more than 700 people from different nationalities and cultural backgrounds.
For more information on Excelpoint, please visit www.excelpoint.com
About PlanetSpark Pte. Ltd.
PlanetSpark Pte. Ltd. (“PlanetSpark”), an entrepreneurial and investment arm of Excelpoint Technology Ltd., invests in, supports and collaborates with promising early- to mid-stage start-ups in Singapore and Asia that are related to the Internet of Things (“IoT”) ecosystem.
For more information on PlanetSpark, please visit www.planetspark.com.sg
About CLOP Technologies Pte. Ltd.
CLOP Technologies Pte. Ltd. (“CLOPTech”) is a privately-owned technology company that spun off from A*STAR, a Singapore Government-funded research agency.
With a vision to provide affordable and low latency wireless solutions and smart connectivity, CLOPTech builds on core IC design capabilities, supplies custom chipsets for high speed wireless connectivity, and delivers complete end-to-end solutions to address Smart Cities and IoT markets.
CLOPTech is one of the few fabless semiconductor start-up companies globally. It is a portfolio company of semiconductor/hardware start-up accelerators, “Silicon Solution Partners” in Singapore, and “Silicon Catalyst” in Silicon Valley, USA. CLOPTech’s latest investment funding round was led by Singapore early-stage tech investor, “IncuVest”.
For more information on CLOPTech, please visit www.cloptech.com