The new funding will accelerate the company's global footprint and innovation in high speed, direct-to-container digital printing
KFAR SABA, Israel, April 2, 2024 /PRNewswire/ -- Velox Ltd., an innovative developer, manufacturer and seller of industrial direct-to-shape digital decoration solutions for the rigid packaging containers market, today announced it has secured a funding round of $38 Million. The investment was led by Fortissimo Capital with participation from existing investors, JAL Ventures, O.R.T. Technologies, Ilan Holdings, Evonik, Waypoint Investors and Migdal Insurance & Finance.
"As long-term investors in various digital printing companies such as Kornit Digital, Nur Macroprinters, Diptech and Tritone Technologies, we recognize Velox's revolutionary technology that we believe will significantly impact the beverage packaging decoration market," stated Yuval Cohen, Founding and Managing Partner of Fortissimo Capital. "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."
Velox takes a new approach to direct-to-shape digital decoration for rigid cylindrical containers such as beverage cans. The company's proprietary technology and a variety of ink formulations enable digital printing at high volumes. Velox creates a paradigm shift for the rigid packaging industry, offering high-speed, direct-to-surface decoration with enhanced quality, allowing for more consumer-focused brands and greater marketing opportunities. The Velox technology requires near-zero setup time, offers efficiencies for shorter run customers, product proliferation and custom marketing communications directly onto the container. In addition, Velox uses a more sustainable decoration technology that eliminates hundreds of tons of shrink sleeves and plastic labels annually, as well as allowing for the recyclability of aluminum cans.
"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," said Marian Cofler, Co-Founder and Chief Executive Officer of Velox. "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."
About Velox
Velox develops, manufactures, sells and supports industrial-grade direct-to-shape digital decoration solutions for the rigid container industry. Its proprietary technology, based on uniquely formulated inks and dedicated deposition architecture, introduces an entirely new approach to digital printing that is poised to disrupt the packaging decoration market. Velox's commercial solutions include industrial-grade digital decorators for mass production of beverage cans, tubes, and aerosol cans. They deliver superior decoration quality and capabilities that outstrip the benefits of analog printing solutions, while allowing a more efficient and flexible production process, a low total cost of ownership (TCO), and outstanding sustainability. Velox is powered by an expert team with uniquely wide-ranging experience in digital printing, led by veteran executives with proven success in driving company growth. For more information, visit www.velox-digital.com and follow us on LinkedIn.
About Fortissimo
Fortissimo Capital (www.ffcapital.com) is a leading private equity fund in Israel investing primarily in technology and industrial companies. Fortissimo's investment strategy is to achieve capital appreciation through taking a leading role and active approach in Israeli-related global businesses that require immediate and significant change, or stimulation of growth and by building business fundamentals to facilitate sustainable long-term growth and value creation.
Some of Fortissimo's notable exits include: Kornit Digital IPO; SodaStream IPO; the sale of Diptech to Ferro, the sale of Nur Macroprinters to Hewlett Packard, the sale of Cadent to Align Inc., the sale of Breezometer to Google, the sale of Starhome to Telerix, the sale of Cardo to EMK, the sale of Biological Industries to Sartorius AG, and the sale of AOD Software Inc. to Primus Capital.
For further information, please contact:
Janine Kohan
Epiccomms
+44 7895-467402
janine@epiccomms.com
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