Velox, an industrial direct-to-shape digital decoration solutions manufacturer, has secured $38m in a new funding round.
Led by Fortissimo Capital, the funding was joined by existing investors, including JAL Ventures, Evonik, O.R.T. Technologies, Ilan Holdings, and others.
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Proceeds from the funding will help expedite the expansion of Velox’s global presence and innovation in high-speed, direct-to-container digital printing.
Velox co-founder and CEO Marian Cofler said: “We are seeing increased momentum in the beverage packaging segment for more efficient and sustainable printing technologies, which has impacted the growing demand for our industrial direct-to-shape digital decoration solutions.
“We look forward to working with Fortissimo Capital and our existing investors to further expand our global reach, develop our technology expertise and scale our offering to serve our rapidly growing customer base.”
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Velox is using a new approach to direct-to-shape digital decoration for rigid cylindrical containers, such as beverage cans.
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By GlobalDataThe company’s proprietary technology, coupled with a range of ink formulations, enables digital printing at high volumes.
In addition, Velox’s decoration technology improves sustainability by eliminating the need for hundreds of tonnes of shrink sleeves and plastic labels annually.
It also enables the recyclability of aluminium cans.
Fortissimo founding and managing partner Yuval Cohen said: “We have been following Velox’s progress and decided that now is the right time to take a significant stake as we ramp up production of Velox’s reliable, state-of-the-art digital printers for beverage cans.
“We look forward to building upon the company’s talented team, customer wins and pipeline of opportunities to further enhance and accelerate the growth of the company.”
