3D printing co Massivit3D plans TASE IPO at $200m valuation

Tel Aviv Stock Exchange Photo: Eli Yizhar
Tel Aviv Stock Exchange Photo: Eli Yizhar

The company has pioneered 3D printing of large engineering items for the car and other industries.

Large format 3D printing company Massivit3D is planning an Initial Public Offering (IPO) on the Tel Aviv Stock Exchange, sources close to the matter have informed "Globes." Masasivit3D will join the large number of Israeli tech companies flocking to the TASE over the past year.

Market sources believe that the company will try to raise $50 million at a company value of $200 million, before money.

The company has raised an estimated $20 to $30 million to date in several financing rounds from investors in the business sector like Zvi Neta from Suzuki car importer Automotive Equipment and Vehicles, Klil Industries Ltd. (TASE: KLIL) chairman Tzuri Daboosh as well as 3D printing rival Stratasys Inc. (Nasdaq: SSYS). Poalim IBI will act as underwriters for the planned offering.

Massivit3d is pioneering 3D printing in the large format sector including engineering items for the car industry and sectors such as visual communications, entertainment, education, design (the fashion industry), architecture and more. The company is able to provide efficient solutions in terms of cost in producing various models and parts of the required size.

The company has dozens of employees in its Lod plant and it has revenue of tens of millions of dollars. Massivit3d was founded in 2013 by chief innovation officer Gershon Miler, VP R&D Igor Yakubov and COO Moshe Uzan. Miller is a serial entrepreneur who has sold several companies in the past including Idanit, which was sold to Scitex for $60 million in 1998 and Objet, which merged with Stratasys.

Published by Globes, Israel business news - en.globes.co.il - on January 19, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Tel Aviv Stock Exchange Photo: Eli Yizhar
Tel Aviv Stock Exchange Photo: Eli Yizhar
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