Velox, a manufacturer and seller of industrial direct-to-shape digital decoration options for the rigid packaging containers market, has secured a funding round of $38 million led by Fortissimo Capital with participation from existing investors, JAL Ventures, O.R.T. Technologies, Ilan Holdings, Evonik, Waypoint Investors and Migdal Insurance & Finance.
Yuval Cohen, founding and managing partner of Fortissimo Capital, commented, ‘As long-term investors in various digital printing companies such as Kornit Digital, Nur Macroprinters, Diptech and Tritone Technologies, we recognise Velox’s revolutionary technology that we believe will significantly impact the beverage packaging decoration market.
‘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.’
Velox is said to take a new approach to direct-to-shape digital decoration for rigid cylindrical containers such as beverage cans. The company’s proprietary technology and ink formulations is explained to 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.
Explained to require near-zero set up time, Velox technology can offer shorter run times for customers, product proliferation and custom marketing communications directly onto the container. In addition, Velox has said that it uses a more sustainable decoration technology that eliminates hundreds of tonnes of shrink sleeves and plastic labels annually, as well as allowing for the recyclability of aluminium 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.’
