Hong Kong listed investment holding company Paladin Ltd (HKEX 495) has established its third technology company in Huittinen Finland. DynimLabs follows the company duo Kindhelm and Pexraytech, which were founded earlier in 2017. This news told by DHS Ventures & Holdings.
Paladin continues to invest in Finland. The Hong Kong based company, particularly attracted by the Finnish research and product development ecosystem, is currently recruiting for its newly founded company DynimLabs located in Oulu, Finland. The company is set to conduct research and product development of camera modules.
Within a year, DynimLabs will recruit 10 new employees.
However, the company will indirectly create work for a number of experts through its partner companies in the wider development ecosystem. "There are skilled employees and partners for us in Finland," says James Oung, CEO of Paladin. "The local ecosystem does not pale in any comparison. Throughout the process, we have received outstanding advice from Business Finland and BusinessOulu."
"Paladin is convinced first and foremost by the Finnish applied research and product development ecosystem, which benefits them greatly," comments Markku Lehikoinen, Senior Advisor at Business Finland's Invest in Finland. "Founding the third company underlines Paladin's satisfaction with Finnish expertize and Finland as an investment location.
We are thrilled that Finland can offer international companies a competitive platform to grow and do their Next Big Thing."
"Oulu's long history with video analysis and camera research as well as competences in developing demanding terminal devices convinced Paladin to locate in Oulu," says Janne Mustonen, Key Account Director, ICT and Nano at BusinessOulu.
"Their decision further enriches the local R&D ecosystem. We believe that the Oulu region provides an excellent platform for Paladin."
For Paladin, the strong local know-how is crucial, as the company plans to integrate and tailor existing and newly developed technologies for larger, advanced systems. One of the company's main goals is to take an active role in Finnish and European research and development collaboration.
In June 2017, Paladin announced the establishment of Kindhelm, specializing in high-accuracy navigation and positioning, as well as Pexraytech, which has a focus on X-ray devices. The founding of DynimLabs further supports Paladin's aim to run profitable and sustainable commercial enterprises that ultimately become leading companies in their respective fields.