Luxexcel raises $13.9 million, appoints Solidscape veteran as CEO

Dutch 3D printed optical lens specialist Luxexcel has raised $13.9 million in series C funding announcing that it is breaking into its “next phase” of development.

Hans Streng, CEO of the company since March 2016, now steps back from his position to a role as adviser to the board at Luxexcel. Streng is succeeded by Fabio Esposito, former president and CEO of wax 3D printer developer Solidscape, which was acquired by Stratasys in 2011.

With regard to his new appointment, Esposito comments, “I am excited to join the Luxexcel team in this pivotal phase of the company’s growth,”

“Building on the success achieved under Hans’ leadership, the focus will now be ramping up commercialization and product development.”

3D printed lenses

Traditionally, custom corrective lenses are made from glass blanks, cut and shaped to provide the desired adjustments. In this process around 80% of the material is wasted. It is also a low yield and labor intensive approach.

Luxexcel’s 3D printing technology has been developed as an alternative means of production for custom optical lenses. Not only is manufacturing performed in a “single step” process, but custom lenses can be produced at volume, with less material wastage.

Luxexcel 3D printed lenses. Photo via Luxexcel
Luxexcel 3D printed lenses. Photo via Luxexcel

The lens 3D printing service is offered by Luxexcel in its ISO-certified VisionPlatform™, a product comprising all systems, consumables and software required to perform the process. The Luxexcel VisionPlatform™ is to be the subject of the company’s continued commercialization, as Esposito adds, “We will continue to capitalize on the introduction of the VisionPlatform™ as well as expanding the team to grow Luxexcel to the next stage.”

The Luxexcel VisionEngine machine. Image via Luxexcel
The Luxexcel VisionEngine machine. Image via Luxexcel

Tens of millions invested

Luxexcel’s latest round of funding was led by Dutch technology investor Innovation Industries, and featured the participation of several existing stakeholders, namely: startup investor ET Ventures, clean-tech capital specialist Munich Venture Partners, regional investment fund PMV and semiconductor manufacturer KLA-Tencor Corporation.

Nard Sintenie, Partner at Innovation Industries, comments, “We are impressed by both the progress Luxexcel has been making in developing this great technology as well as the traction the products are getting in the eyewear market,”

“With the new CEO and this funding, Luxexcel will scale her business and the installed base of the VisionPlatform™.”

Previously, in May 2017, Luxexcel received a $10 million investment from the four existing investors.

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Featured image shows a 3D printed Luxexcel lens. Photo via Luxexcel.