Velox, a developer, manufacturer, and seller of industrial direct-to-shape digital decoration solutions for rigid packaging containers, announced it has secured a $38 million funding round. Fortissimo Capital led the funding round. And existing investors JAL Ventures, O.R.T. Technologies, Ilan Holdings, Evonik, Waypoint Investors, and Migdal Insurance & Finance joined the funding round.
Velox has developed a new technology for direct-to-shape digital decoration of cylindrical containers such as beverage cans. This innovative technology enables high-volume digital printing with various ink formulations, enhancing the quality and creating more consumer-focused brands. Velox is transforming the rigid packaging industry by providing high-speed and direct-to-surface decoration.
Velox’s technology requires near-zero setup time and offers efficiencies for shorter-run customers, product proliferation, and custom marketing communications directly onto the container. Plus, Velox uses a more sustainable decoration technology that eliminates hundreds of tons of shrink sleeves and plastic labels annually and enables the recyclability of aluminum cans.
KEY QUOTES:
“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. 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.”
– Yuval Cohen, Founding and Managing Partner of Fortissimo Capital
“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.”
– Marian Cofler, Co-Founder and Chief Executive Officer of Velox
