Pla Matels (Philippines) Corporation announced that it will receive $1.50 million in a round of funding from existing investors, Pla Matels Corporation on December 24, 2013. The investor will retain 100% stake of the company on completion of the transaction. The transaction has been approved by the board of directors of the investor.

The capital of the company will increase from $0.50 million to $2 million on completion of the transaction. The transaction is scheduled to close in January 2014.