Racer Technology

What Racer Technology does

Racer Technology Pte Ltd is a Singapore-headquartered Contract Development and Manufacturing Organization (CDMO) founded in 1988 by Willy Koh, operating eight factories across Singapore, Malaysia, and Indonesia with sales/engineering offices in the United States (San Carlos, CA) and India (Chennai). The company provides end-to-end manufacturing services spanning industrial design, rapid prototyping, plastic injection tooling, mass production, reagent manufacturing, secondary processes, and full turnkey assembly, anchored by 550+ injection molding machines ranging from 5 to 550 tons and ISO Class 7 and 8 cleanroom capacity for medical device production.

The company's core technology stack emphasizes precision plastic injection molding with several specialized capabilities: low pressure injection molding achieving IP-67 waterproof encapsulation for wearables and body-worn electronics, microfluidic chip manufacturing using fully electric micro molding with corona heat treatment, UV bonding, and die-cut processes, and proprietary patented Plasma Blood RF Sealer/Welder products for sterile blood tubing systems. In-house secondary processes include spray painting, ultrasonic welding, electroplating, EMI coating, PCB assembly, 5-axis CNC machining, ETO and gamma sterilization, eliminating third-party dependencies. The company holds ISO 13485, ISO 9001, ISO 14001, ISO 17712, US FDA registration, EU Medical Device Directive approval, and was among the first manufacturers to obtain IVDR certification.

Racer generates revenue through enterprise B2B contracts, charging project-specific development fees, tooling fees, and per-unit manufacturing rates under multi-year OEM agreements. The customer base spans medical device manufacturers (Medtronic MiniMed insulin pumps, Singapore General Hospital/TTSH, Veloci-Vent for NHS, COVID-19/HIV test kits, dialysis cassettes, plasma blood products), IoT device makers (Fitbit wearables, BullGuard Dojo, barcode scanners, Fuel 3D scanners), and consumer electronics brands (SK-II/P&G skincare boosters, Medela, Razer wearables). Notable operating signals include a 2 million unit SK-II backorder launch in Japan, a P&G Partner of the Year award in 2019, and an iDSA Top Design Excellence Award for ventilator design. Customer acquisition is event- and consortium-driven (MEDICA, COMPAMED, Medtech Tokyo, MD&M) rather than digital-led, with dedicated engineering teams attached to each account.

Name

Racer Technology

Legal name

Racer Technology Pte Ltd

Website

https://racer.com.sg

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Racer Technology is a Singapore-headquartered Contract Development and Manufacturing Organization (CDMO), founded in 1988, specializing in precision plastic injection molding and end-to-end manufacturing for medical device, IoT, and consumer electronics companies across Asia.

Ownership category

akta.pro rank

Product category

Medical Device Contract Manufacturing

NAICS

Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (33451), Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)

SIC

Surgical & Medical Instruments & Apparatus (3841), Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Sterile Fill-Finish & Aseptic Manufacturing CDMO (HLAGABAH)

akta.pro secondary industry

Clinical Trial Material (CTM) Manufacturing & Supply CDMO (HLAGABAK)

Keywords

• Plastic injection molding
• Contract medical manufacturing
• Microfluidic chip manufacturing
• Rapid prototyping services
• Cleanroom assembly services

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Contract Development and Manufacturing (CDMO) Services: Racer Technology operates as a Contract Development and Manufacturing Organization, providing end-to-end services from product concept/design through mass manufacturing and final assembly. Revenue is generated through engineering development fees, tooling fees, and manufacturing production contracts. Services include OEM product design, rapid prototyping, plastic injection tooling, mass production, reagent manufacturing, assembly, and secondary processes. The company handles full turnkey assembly, procuring components (PCBA, metal stamping, screw components, LSR) on behalf of customers.
2. Manufacturing Production Revenue: Production revenue from manufacturing plastic molded parts, non-plastic components, PCBA, and finished devices across medical, IoT, and consumer electronics verticals. Includes both low-mix high-volume and high-mix low-volume production runs across facilities in Singapore, Malaysia, and Indonesia.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

Racer Technology operates as a Contract Development and Manufacturing Organization (CDMO), providing end-to-end services spanning product design, rapid prototyping, plastic injection tooling, mass production, secondary processes, full turnkey assembly, reagent manufacturing, and sterilization. Its offerings target medical device, IoT, and consumer electronics OEMs, with specialized capabilities in microfluidics, ISO Class 7 & 8 cleanroom manufacturing, low pressure injection molding for IP-67 encapsulation, and regulatory compliance (FDA, CE, HSA, IVDR). The company also produces its own branded products such as the Plasma Blood RF Sealer, microfluidic chips, ventilators, and ASTM Level 2 surgical masks.

Product overview

Racer Technology is a Contract Development and Manufacturing Organization (CDMO) providing comprehensive design, prototyping, and manufacturing services across medical devices, IoT, and consumer electronics. The portfolio includes both finished products (Sterile Tube Welder, Plasma Blood RF Sealer, Microfluidic Chip, Digital PCR Systems, Cell Retriever System, ventilators, surgical masks, test kits, dialysis cassettes, FemTech devices, healthcare devices, wellness products, wearables, IoT devices, and consumer electronics) and manufacturing services (injection molding, tooling, product design, prototyping, assembly, reagent manufacturing, secondary processes, and quality management). The company operates across multiple facilities in Singapore (HQ), Malaysia, Indonesia, USA, and India, with cleanroom capabilities for medical device manufacturing and regulatory compliance with ISO 13485, FDA, and IVDR standards.

Differentiator

Problem solved

Functional benefit

Products and services

• OEM Product Design and Development Comprehensive OEM solutions including industrial design, mechanical design, design for manufacturing, design for assembly, PCBA design, and regulatory compliance services for medical, IoT, and consumer electronics customers.
• Rapid Prototyping Rapid prototyping services including CNC machining (5 axis), silicon molding, prototype tooling (modified from vertical cable/wire over-mold machine), and 3D printing for customer product development.
• Plastic Injection Tooling In-house tooling services including soft tooling, hardened tooling, insert molding, 2/3 shots overmolding, low pressure molding (IP-67 rating), structural molding, in mold decoration, and multi-cavity tooling.
• Injection Molding Services (Mass Production) Mass production services with over 550 injection molding machines ranging from 5-550 tons, located in Malaysia and Indonesia. Includes clean room injection molding (Class 10,000 ISO Class 7, Class 100,000 ISO Class 8) compliant to GMP and ISO 13485.
• Secondary Processes Secondary manufacturing processes including spray painting, printing, ultrasonic welding, electroplating, labeling, PCB assembly, machining, heat staking, sealing, packaging, ETO and gamma sterilization, and cubic printing.
• Assembly Services Assembly services with dedicated assembly lines for each customer, full turnkey assembly with traceability, clean room assembly line (ISO Class 7 and 8), and sterilization services (ETO and Gamma).
• Reagent Manufacturing Reagent manufacturing in ISO Class 7 & 8 Cleanroom with fully or semi-automation reagent dispensing for cleanroom PIM manufacturing or reagent filling. Supports Lysis, Resuspension Buffer, and diluent solution products. Holds IVDR certification for In Vitro Diagnostics.
• Sterile Tube Welder (Plasma Blood RF Sealer and Welder) A compact and durable patented device providing a closed sterile connecting system to maximize the shelf life of valuable blood products, designed for FDA Class II and III blood bank and plasma center use.
• Microfluidic Chips Disposable smart plastic lab-on-a-chip with sampling and identifying competence for immediate and accurate measurements of diagnostics of specific biomarkers from a human body with minimum invasion. Used in 3D cell culture, in-vitro diagnostic (Lassa fever, Dengue, Ebola), and Cell Retriever applications.
• Digital PCR Systems State-of-the-art PCR systems providing high resolution, sensitivity, and dynamic range on quantification of RNA and DNA samples with unprecedented multiplexing capabilities.
• Cell Retriever System Fully automated system for circulating tumor cells (CTC) used for molecular analyses and diagnostic assays of cancer cells. Uses microfluidic technology with centrifugal force applied at high speeds to swing blood samples and make cancer cells detectable.
• Veloci-Vent Ventilator Sophisticated ventilator developed in collaboration with Cambridge Consultants for the UK National Health Service (NHS) to ease demand during COVID-19. Created from scratch in over six weeks.
• Worldwide Ventilator Foundation Portable Ventilator Low-cost, portable ventilator suitable for mass production with 150 custom precision design components, FDA approved for sale in the USA, receiving Top Design Excellence Award from iDSA.
• ASTM Level 2 Surgical Mask F2100 ASTM Level 2 Surgical Grade masks suitable for medical use, providing protection against light to moderate exposure to aerosols, spray and fluids. HSA licensed manufacturer and US FDA-approved establishment.
• HIV Test Kit Low-cost, effective HIV detection kit designed in collaboration with Cambridge University with a production run of 2 million units.
• COVID-19 Test Kit Diagnostic test kits for COVID-19 produced for the Singapore government during the pandemic. Awarded COVID-19 Resilience Certification in 2023.

Quantifiable outcome

• Double labour productivity and cut production throughput time through LEAN and KANBAN methodologies
• +8 more outcomes

Named customers18 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

15 partnerships are on record, tiered minor and core.

• Medical Valley GMBHminorStrategic or Co-development Partner · 22 May 2019The Singapore MedTech Consortium (led by Racer) signed an MOU with German Medtech cluster 'Medical Valley' on 22 May 2019, on the occasion of MedtecLive exhibition in Nuremberg, Germany, to establish a solid business bridge between Singapore and Germany in healthcare.
• Singapore MedTech ConsortiumcoreStrategic or Co-development PartnerRacer Technology founded and leads the Singapore MedTech Consortium, an organization that works to build a strong research base for Singapore's Medtech industry and leverage supply chain management. The consortium organizes trade missions (Germany, China, Philippines), hosts industry events, and facilitates partnerships between Singapore medtech companies and international markets.
• Racer MedicalcoreStrategic or Co-development PartnerRacer founded Racer Medical as a dedicated entity to create a strong ecosystem providing end-to-end manufacturing solutions for medical device customers. It serves as a brand/vehicle for the medical device manufacturing arm of the group.
• Cambridge ConsultantscoreStrategic or Co-development PartnerRacer collaborated with Cambridge Consultants to co-develop 'Veloci-Vent' ventilator for the UK's National Health Service (NHS) during the COVID-19 pandemic. The sophisticated device was created from scratch in a little over six weeks, leveraging leading technology and engineering resources.
• Cambridge UniversitycoreStrategic or Co-development PartnerDesigned low-cost HIV test kit in collaboration with Cambridge University. Racer served as major partner for disposable test kits, involved in design and development, prototype testing, mass manufacturing, and re-engineering for Version 2. Design was subsequently re-purposed for COVID-19 test kits.
• Worldwide Ventilator FoundationcoreStrategic or Co-development PartnerCollaborated on design of a low-cost, portable ventilator suitable for mass production in the shortest lead time possible. Received Top Design Excellence Award from iDSA. 85% of components sourced locally in Singapore.
• A*STAR (Agency for Science, Technology and Research)minorStrategic or Co-development PartnerA*STAR featured Racer Technology in its Smart Factories article showcasing Singapore SMEs. Racer was visited by A*STAR with Senior Minister of State Dr Koh Poh Koon in February 2019 to present Factory 4.0 implementation journey. Racer participated in A*STAR forums and innovation communities.
• SG InnovateminorStrategic or Co-development PartnerSG Innovate featured Racer at MedTech Manufacturing Events and co-hosted events with Racer. Willy Koh, Founder and CEO, joined the IPI Singapore Innovation Advisory Committee.
• Singapore General Hospital / National Healthcare Group (NHG)minorStrategic or Co-development PartnerProduct innovation collaboration with Tan Tock Seng Hospital (TTSH) and National Healthcare Group (NHG). Racer co-developed medical device innovations with NHG, with outcomes featured in NHG newsletters.
• DSTA (Defence Science and Technology Agency)minorStrategic or Co-development PartnerRacer Technology teamed up with DSTA during COVID-19 for the FaceProtect+ face shield project, saluting front-liners and healthcare heroes during the pandemic.
• SK-II / Procter & GamblecoreOEM/ Whitelabel/ Licensing PartnerRacer white-labeled its skincare magnetic booster technology to SK-II (Japan's largest skincare brand, owned by P&G). The device was scientifically proven to improve penetration of serums and creams. Launched in Japan with 2 million units backorder. Racer received P&G's Partner of the Year award in 2019.
• FitbitcoreOEM/ Whitelabel/ Licensing PartnerRacer was the first contract manufacturer engaged by Fitbit (when it was a three-person startup) for product development and prototyping. First manufacturing run of 20–100 units. As production ramped up, Racer dedicated half of its Batam facility for Fitbit's cost-effective high-volume production and full box-build assembly.
• BiorithmminorOEM/ Whitelabel/ Licensing PartnerManufactures pregnancy remote monitoring device designed in close collaboration with women, clinicians, and university hospitals in Singapore. Device allows mothers to monitor baby and maternal vitals through mobile technology and data science.
• MedelaminorOEM/ Whitelabel/ Licensing PartnerManufactured bottle steriliser and warmer for Medela — transforming customer concept to physical product through mechanical analysis, design exploration, prototype testing, and PCB layout definition.
• Singapore Government (HSA)coreStrategic or Co-development PartnerAssisted the Singapore government in providing COVID-19 test kits for public use during the pandemic, operating three production shifts with limited resources in Singapore facility due to shipment restrictions. HSA-licensed manufacturer with FDA establishment registration.

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Integer Holdings: US-headquartered medical device CDMO with comparable end-to-end design, manufacturing, and assembly capabilities across interventional, surgical, and portable medical devices. Closely comparable in scope (regulated medical device manufacturing) and tier of contract manufacturing services.
• West Pharmaceutical Services: Specialist manufacturer of elastomeric components, seals, and containment/delivery systems for injectable drug and medical device applications. Compares directly to Racer in injection-molded medical device components and sterile packaging.

Broad incumbents

• Flex (Flextronics International): Global tier-1 manufacturing services company with significant healthcare/medical device and consumer electronics capabilities. Operates at a much larger scale than Racer but addresses the same B2B CDMO customer segment.
• Jabil: Global manufacturing services provider with a strong healthcare and consumer devices segment. Competitor for high-mix-to-high-volume outsourced manufacturing across medical and IoT programs.
• Sanmina: Integrated manufacturing solutions provider with a dedicated Medical segment covering diagnostic, surgical, and patient monitoring devices. Comparable to Racer's regulated medical device manufacturing focus.
• Benchmark Electronics: Engineering and manufacturing services provider serving medical, aerospace/defense, and industrial customers. Comparable as a mid-large tier CDMO with a meaningful medical device footprint.
• Celestica: Global manufacturing services company with a Healthcare segment serving diagnostics and medical device OEMs. Provides comparable end-to-end design-to-manufacturing services to Racer.

Regional players

• Fu Yu Corporation: Singapore-listed precision plastics contract manufacturer serving medical, consumer electronics, and industrial customers across Southeast Asia and China. Strongest regional direct peer to Racer based on shared geography, customer verticals, and plastic injection molding capability.
• Meiban Group: Singapore-based precision plastics and contract manufacturer with medical, industrial, and consumer electronics exposure. Operates in the same Southeast Asian geography and serves a similar customer mix to Racer.
• Hi-P International: Singapore-based precision engineering and contract manufacturer for the medical, automotive, consumer electronics, and industrial sectors. Comparable as an Asian-headquartered CDMO operating in the same verticals.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCwJJS0FvEXONDSmN6cELtJA
• LinkedInlinkedin.com/company/racer-technology/posts/?feedView=all

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Racer Technology