Silex Microsystems has attracted USD 9 million for further growth

Swedish Silex Microsystems AB has attracted up to USD 9 million (MSEK 70) from CapMan funds (Swedestart Tech, Swedestart Life, and CapMan VII) and Startupfactory. Silex is one of the fastest growing companies in the MEMS industry and delivers MEMS-based (Micro Electro Mechanical Systems) components, i.e. sensors, actuators and precision structures for the life science and telecommunications industries.

Silex works with its customers to create a variety of customized applications. Examples of products that Silex fabricates are disposable blood pressure sensors, micropumps and microneedles for drug delivery, microfluidic chips, ion channel technology products, spiked electrodes for measuring biosignals, general substrate for optical components, and movable mirror arrays for imaging and optical fiber switching.

The funding will enable Silex to expand into new high volume production facilities. This is needed for Silex to meet the fast growing demand set by its local and international customers.

MEMS combines electrical and mechanical components and conveys the advantages of miniaturization, multiple components and microelectronics. “The components that Silex designs and produces are in micro-scale and have unique functions leading to higher performance and lower overall system cost for our customers”, says Jan Nerdal, CEO at Silex.

“We invested in Silex together with Startupfactory already in autumn 2001 and since investment Silex’s revenues have doubled every year. Silex has highly experienced and competent management team and very strong R&D team,” says Lars Hagdahl, CapMan’s Senior Partner. “The personnel strengths and technological edge combined with the expected significant market growth form a good basis for Silex’s future growth and internationalisation,” he continues.

Johan Bennarsten, Investment Manager at CapMan adds, ”Silex has a very impressive and extensive customer base especially within the Life Science sector with all big medtech players represented”. “The products that Silex delivers have breakthrough implications on diagnosing and treatment of diseases”, he continues.

“Silex has developed faster than our initial expectations, says Hans Glemstedt, Managing Partner in Startupfactory. “Silex is a true growth company with global competitiveness in an area that over time will become a major industry in a Nordic context”. “We are happy that Silex through this funding now can take the next step in its development, he continues.”

Silex’s management team comprises Jan Nerdal, CEO; Edvard Kälvesten, CTO; Malin Huss, Production Manager and Marie Edström, Finance Manager. The company was started in 2000 and has 25 employees.

For more information, please contact:
Mr. Jan Nerdal, CEO, Silex Microsystems AB, Tel. +46 8 752 16 00
Mr. Lars Hagdahl, Senior Partner, CapMan Technology Unit,
Tel. +46 8 5458 5476
Dr. Johan Bennarsten, Investment Manager, CapMan Life Science Unit,
Tel. +46 8 5458 5472
Mr. Hans Glemstedt, Managing Partner, Startupfactory AB,
Tel +46 8 5455 3210

CapMan Group
CapMan is one of the leading private equity investors in the Nordic countries and specialises in mid-sized buyouts in various industry sectors, technology investments in the IT and telecommunications sectors and investments in life science companies. CapMan team comprises more than 70 people in Helsinki, Stockholm and Copenhagen. CapMan manages/advises funds with approximately EUR 1.653 billion in total capital. To date, the funds managed by CapMan have invested in 130 companies in the Nordic countries and exited from 50 companies. CapMan Plc is listed on the Main List of the Helsinki Stock Exchange. www.capman.com

Startupfactory
Startupfactory is an early stage venture capital firm based in Stockholm, Helsinki and Lund, investing in Nordic companies and teams in the IT, datacom and telecom industries. Startupfactory invests in the seed, start-up and early expansion phases of a company’s life. The owners are, besides the employees and board members, Investor AB, Softbank Europe Ventures and Carnegie. Startupfactory manages 500 million SEK in total capital. www.startupfactory.com