September 20

Prism+ Obtains $45 Million in VC Funding, Eyes Philippines as Its Next Market

By Lim Hui Jie

Consumer electronics firm Prism+ has announced plans to enter the Philippine market after obtaining $45 million in institutional funding from VC firm TNB Aura.

This comes after the firm shifted from solely selling consumer electronics to also entering the smart home appliances space by selling its own line of smart air conditioners.

In a release, Prism+ says the funds will go to the development of new products and expansion into Southeast Asia.

Explaining the rationale behind the backing from TNB Aura, Prism+ says this came after it entered into the home appliance space.

Photo courtesy of blickpixel.

Source: The Edge Singapore (link opens in a new window)

business development, venture capital