The green shoots of recovery following ‘the economic downturn’ (Ugh! Anyone else sick of that phrase?) are starting to blossom across Europe and the States. Just this morning, on a call, someone said to me “it’s all getting ‘buzzier’!” In 3D printing land, that down turn had an effect, but it was never going to stop this emerging technology sector . More of a Sherlock-esque1 slow-down — that’s to say, not quite bullet proof, but almost! The point is, things really are getting ‘buzzier’ and even while 2013 saw VC’s chomping at the bit to get a piece of the 3D printing action, 2014 looks set to out pace its predecessor. Already, we’ve had news that Mcor has capital coming in, and now the LUXeXceL Group, developers and manufacturers of Printoptical Technology — a 3D printing process to prototype and manufacture lenses and optical products — has announced that the European investors Munich Venture Partners, ChrysalixSET and Filsa Capital have closed a growth financing round with the company.
LUXeXceL believes that these investments will allow it to enhance its global leadership position in the Additive Manufacturing of lenses and optical components.
The patented “Printoptical” 3D printing process is a unique digital technology able to print functional optics. As this one step “CAD-to-Optic” process allows for printing optically smooth structures and surfaces, the printed product does not require post processing and volumes are proving less of an issue in terms of econcomics. Hence cost reductions and time savings are the key value drivers for LUXeXceL starting in the LED industry.
Recently LUXeXceL’s innovative and unique digital manufacturing technology received recognition as winner of both the Deloitte Fast-50 2013 Most-Disruptive-Technology Award and the Belgium/Dutch Accenture Innovation Award 2013.
Richard van de Vrie, Founder and Chairman of LUXeXceL commented on the investment and projected growth trajectory of the company: “We are excited to announce this completion. This cash injection secures our growth and corporate development, increasing the capabilities that we offer to optical designers and LED lighting manufacturers. Our new partner Munich Ventures Partner is one of Germany’s largest Clean-Tech Investors with a very valuable network that will help us open new doors. I am pleased that Filsa Capital is investing in the company and making its management experience available. The additional capital injection of Chrysalix SET enables us to execute our business plan properly.”
Martin Kröner, Managing Partner of Munich Venture Partners also commented: “We invested in LUXeXceL because of their unique patented process to print Optics. We believe that their Printoptical Technology will change the way optics are designed, produced and digitally stored across many different market segments. Although the company is focused on the LED Lighting market, as the capabilities rapidly improve we expect LUXeXceL to address similar opportunities in other optical markets. Our team is looking forward to helping LUXeXceL to accelerate the digitization of optics manufacturing.”
The Managing Partner of Chrysalix SET, Wouter Jonk: “We were the first venture capital investor to take a position in LUXeXceL based on our conviction that LUXeXceL will become a global key player in the field of optics and will accelerate the growth of the LED lighting Industry.”
Ton Tuijten owner of the Dutch Investor Filsa Capital concluded: “I am happy to join the investment of Munich Venture Partners and ChrysalixSET in LUXeXceL and to help the company develop in a fast, efficient and professional way”.
1. Reference to what happened to Benedict Cumberbatch’s FANTABULOUS Sherlock in the BBC’s adaptation, in the episode “His Last Vow” shown here in the UK last Sunday and the result of a dare that I couldn’t get a Sherlock reference onto 3DPI. Tenuous, maybe, but a dare is a dare!