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Excelpoint invests US$2m in thermal imaging solutions startup
MAINBOARD-LISTED electronics components distributor Excelpoint Technology announced on Wednesday that its wholly-owned subsidiary PlanetSpark is investing US$2 million in Meridian Innovation, a Singapore-based company developing thermal imaging sensor solutions.
PlanetSpark is Excelpoint's entrepreneurial and investment arm.
With its design house incubated in Singapore, Meridian's thermal sensors are said to be the first to be integrated with the complementary metal–oxide–semiconductor technology, allowing the manufacturing process for their thermal cameras to be easily scaled for high-volume production.
Excelpoint said that ever since Meridian showcased its products at the recent Consumer Electronics Show (CES) show in Las Vegas, it has gained the attention of "big players" within the industry. Meridian is also exhibiting at the Shanghai CES show this week.
On Meridian, Albert Phuay, chairman and group CEO of Excelpoint Technology, said: "The market potential is great as it can be incorporated into many commercial and consumer applications, which are synergistic with Excelpoint's focus segments."
Continuing its strategic focus on collaborating with startups, the group said that PlanetSpark continues to be a key platform for them in Asia-Pacific to accelerate their growth, commercialise and stay ahead of the innovation curve in the global electronics and technology industries.