LONDON Silecs Inc., a manufacturer of dielectric materials for the semiconductor and flat panel display industries, has raised $7.7 million in a funding round.
Silecs (Mountain View, Calif.), which has its manufacturing and research base in Espoo, Finland, said the money was provided by existing institutional investors and included additional government backed financing. The additional funds would be used to for expansion of production and global sales, the company said.
“Silecs has been busy ramping up production to meet strong customer demand for our products,” said Jaakko Kokko, chief executive officer of Silecs, in a statement. Silecs announced the expansion of its electronic chemicals production capacity through the addition of production lines at Espoo in November 2005.
“Silecs is the only supplier in its market that is dedicated to serving the dielectric needs of semiconductor and display customers, and we believe that customers are finding that focus and dedication very attractive,” said Jonas Risberg, investment director of InnovationsKapital.