Printing technology company Digiflex Ltd. has raised a further $3.3 million, reports investor Teuza - A Fairchild Technology Venture Ltd. (TASE:TUZA), which invested $500,000 as part of the financing round. Teuza owns 23.7% of the company.
Digiflex's other current investors, ProSeed Venture Capital Fund (TASE:PRSD), Battery Ventures, Vertex Venture Capital, Technion R&D Foundation Ltd., and the Levy Family Trust invested $1.3 million, and unnamed new investors invested $1.5 million.
Digiflex has raised $6.6 million to date. It was founded by Uri Adler and CTO Dr. Moshe Frenkel in 2008.
The classic printing and printer peripherals market is mature and is not growing, but there can sometimes be growth of hundreds of percent a year in digital printing. Digiflex is in this niche, developing an inkjet solution for labels, cartons, and flexible packaging. Its solution can replace laser-based systems, which use flexographic plates for these materials.
In its financial report for the third quarter, Teuza gave Digiflex a value of $2.9 million. KLA Tencor founder and chairman emeritus Kenneth Levy invested $1 million in Digiflex in 2010, together with Digiflex chairman Dan Vilenski.
Published by Globes [online], Israel business news - www.globes-online.com - on December 26, 2011
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