Israeli digital post-print company Highcon has announced the closing of a $20 million financing round led by Jerusalem Venture Partners (JVP) with the participation of existing investors Landa Ventures, LR Group, OurCrowd, and Go Capital. The company has raised $60 million to date and has 80 employees, 60 of them in Israel.
Founded in 2009 by CEO Avi Ratzman and COO Michael Zimmer, the Yavne based company has disrupted the post-print market by developing digital cutting and creasing solutions. The $20 million financing round will go towards further growing the global reach and product development of Highcon’s digital finishing solutions.
Highcon has transformed traditional print applications such as packages, greeting cards, folders, and large format display items. The company's solutions enable printers and packaging converters to offer differentiated, premium services not possible with traditional systems by introducing automation into an industry that still relies on manual processes. Through its unique and patented Digital Adhesive Rule Technology, the company’s products create crease lines and unique high-speed, high-quality laser solutions are used for cutting and etching, driving the way to achieving the vision of Industry 4.0. Technology. The system accelerates the creation of custom packaging and paper products on-the-fly without the intermediary, expensive, and time-consuming step of die cutting.
Since the launch of the first Highcon machine at drupa 2012, the company has installed more than 50 machines worldwide. Highcon solutions replace the expensive and slow conventional die-making and setup process with a digital technology that bridges the gap between design creativity and production capability, delivering improved responsiveness, design flexibility, and the ability to perform a wide range of applications in-house.
Ratzman said, "This latest investment round demonstrates that the printing industry is ready to reap the benefits of our disruptive technology. The global printing industry has been dominated by Israeli digital printing technology for decades. We’re bringing that tradition to the next level."
"We believe Highcon will be the next Israeli print giant," said Raffi Kesten, JVP Managing Partner. "Highcon’s field-proven digital technology is bringing about a radical change in a field that has shown little innovation in decades. Their solutions create customized products that jump off the shelf for consumers. We focus on companies with the potential to shape global markets, and Highcon is one of them."
Published by Globes [online], Israel business news - www.globes-online.com - on June 28, 2017
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