Israeli 3D laser printing developer Utilight Ltd. has raised $2.9 million. The new investors include a strategic investor in Israel (from the polymers' industry), SCI Advanced Technology Fund and high net worth Asian investors. The new investors join current investors including Robert Bosch Venture Capital (RBVC), Waarde Capital and I2BF Global Venture. The company has also received $3 million in grants from Israel's Office of the Chief Scientist (OCS) and plans marketing a $15 million Series B financing in the second quarter of 2016.
Based in Yavne, Utilight develops and markets its PTP™ technology, a disruptive non-contact 3D laser printing technology for high-volume manufacturing of printed electronics including PV solar cells. The Company will use the latest financing to target and market to the world's top 20 global PV manufacturers. TriPoint Global Equities LLC acted as placement agent and advisor for the transaction. The company was founded in 2009 by chairman and CEO Dr. Giora Dishon, Amir Noy, Misha Matusovsky and Moshe Finarov. Dr. Dishon was the founder and former CEO of Nova Measuring Instruments Ltd. (Nasdaq:NVMI; TASE:NVMI).
Dr. Dishon said, "We intend to use the proceeds from this financing to aid in accelerating Utilight's plan to move from beta testing to market proliferation."
Published by Globes [online], Israel business news - www.globes-online.com - on March 7, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016
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