Supply chain group PCH has secured $21 million from three venture capital funds to allow it to expand.
In a statement today PCH said the funding from; Lightspeed Venture Partners, Norwest Venture Partners and Focus Ventures would allow the company broaden its sales and marketing operations in the US and Europe and improve its IT infrastructure.
Liam Casey, chief executive of PCH, said consumer electronics devices have become more sophisticated, product life cycles have shortened, and consumer taste has changed rapidly over the last decade.
“PCH capitalises on this trend by offering flexible contract manufacturing capacity, and increased transparency resulting in the ability of its clients to develop, launch and deliver products faster,” he said. The funding gives PCH access to potential new clients in the US, the company added.
Founded in Cork, 1996 PCH has its headquarters in Shenzhen, China and customers in the consumer electronics, personal computer, medical devices and, telecoms sectors. It employs around 700 people in Ireland, China, Singapore, the UK, the US, Brazil and South Africa.
