02 Mar 2010

The Business Times 

D-SIMLAB gets funding from Tan Gee Beng

D-SIMLAB Technologies Pte Ltd, a provider of simulation-based decision support solutions for the aerospace and semiconductor manufacturing industry, has successfully raised another round of investment from Tan Gee Beng Pte Ltd (TGBPL) yesterday.

TGBPL is a Singapore- based company with interests ranging from manufacturing, trading, property development and investments to high technology industries.

This financial deal follows the signing of a memorandum of understanding (MOU) between D-SIMLAB and EADS Innovation Works Singapore to undertake and promote joint collaboration activities and projects.

The investment, of an undisclosed amount, will be used to further develop aerospace planning and optimisation systems as well as to accelerate the semiconductor business.

Said Tong Guan, executive director of TGBPL, "We have invested in D-SIMLAB because we believe in its business model and we feel that the management has the expertise to provide excellent solutions to its clients.

"We also firmly believe that D-SIMLAB high performance simulation based decision support solution will benefit its clients to achieve significant cost savings."

The valuation of the company has multiplied compared to the earlier round of financing in February 2008.

Exploit Technologies had incubated D-SIMLAB for close to 18 months when it first started its business in 2007.

Peter Lendermann, chief executive officer of D-SIMLAB, said: "With this investment, we can confidently claim that D-SIMLAB has evolved from a high-tech start-up into an established company with a proven track record and potential to be a leader in providing simulation-based decision support solutions for asset intensive industries."