RealTime IT News

AMO Secures $20 Million From Goldman, Morgan

Singapore's Asia Manufacturing Online raised $20 million in its third round of private funding from Goldman Sachs, Morgan Stanley and a host of new and existing investors.

Goldman Sachs, Morgan Stanley, Silicon Valley venture capital firm Doll Capital joined Europe's 3i Group Plc., AsiaTech Ventures Ltd., and SilkRoute Holdings as equity investors in AMO.

"We believe the traditional supply chain concept has become obsolete, and that companies in the future will compete by forming global supply webs that are dynamic, collaborative and processed in real-time," said T.K. Wong, AMO's chairman and CEO. "This investment will help us extend the global supply web to their U.S. counterparts, many of whom maintain significant manufacturing operations in Asia and do business with Asian contract manufacturers."

Recently, AMO introduced ECNet to the North American manufacturing community. This Internet-based supply chain platform is designed specifically for high tech manufacturers.

To improve delivery of this innovative service to the U.S. market, AMO has expanded operations and moved its global headquarters from Singapore to Redwood City, California.

In the Asia-Pacific region, AMO operates in every manufacturing hub including Hong Kong, Japan, Korea, Malaysia, Singapore, Taiwan, and Thailand.

This strategic round of funding has enabled AMO to expand North American operations, including the addition of senior staff, and the opening of new offices in key manufacturing centers.

There also have been a number of high profile additions to AMO's board including Mark Jarvis, Senior Vice President of Worldwide Marketing at Oracle Corp., Shirley Lin, Executive Director of Goldman Sachs Asia, and Peter Moran, Partner of Doll Capital Management.