Objet Geometrics Raises $15 Mln at $36 Mln Company Value
Investors in the financing round include Scitex and the TDA fund. Objet Geometrics develops printers for creating 3D models.
Start-up Objet Geometrics is about to complete a $15 million financing round, its second. The capital was raised at a company value of $36 million, after money.
Investors in the financing round included Scitex Corporation, the TDA venture capital fund, and US and European private investors. The company announced that the money would be used to finance the final development stages, launching its first product, and for the transition to commercial activity.
The company also announced David Ofek’s appointment as general manager. Ofek has served as president and general manager of Scitex Europe and as Scitex VP for marketing.
Objet Geometrics develops and manufactures printers utilizing injection technology for to create three-dimensional models. The printers use polymers developed by the company. The printers are designed for engineers, designers, and planners, and are intended to streamline and accelerate planning and design processes, thereby shortening time to market.
According to the company, its equipment recently helped “one of the world’s leading auto manufacturers” to create a three-dimensional prototype of a vehicle engine. Other customers include “a leading equipment manager”, for which Objet designed 3D cell phone models, and an irrigation company.
Objet Geometrics was founded in 1998. The company is based in the Rehovot science park, and has a payroll of 50 employees.
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