Landa Digital Printing has raised $300 million in an investment round that will underwrite the company’s push to its next development stage.
It has shipped the first beta machines and results from these has underpinned investor confidence that the nano graphic technology can be deployed successfully in the real world. The funding has been led by Skion, a German private equity funder that is headed by Susanne Klatten. She is also owner of Altana, which had earlier bought one of the Landa spin off companies and which is also owned by Klatten. Altana had also participated in an earlier funding round, investing €100 million in 2014.
In a statement Klatten says: ”My investment reflects my confidence in the technological potential of Landa Digital Printing. Together we can spark the market demand for digital printing solutions. To be part of this new chapter in the history of printing also means a significant entrepreneurial move for me."
Skion and Altana combined now control 46% of the business with the remainder in the hands of founder Benny Landa. He says the new money will be used to expand production from a handful of beta machines to full scale manufacture and shipping presses to the huge number of expectant customers who have signed letters of intent. This backlog is put at €500 million. Each press is valued at €3 million, though each will also consume vast amounts of the associated nano ink
So far Landa Digital Printing has shipped S10 single-sided press to carton printers in Israel and Germany. Another is earmarked for a display printer in the US. After this comes a double-sided version of the press and then a web version for flexible packaging.
The roll out has been beset by delays as the technology is perfected, the latest being the AVT 100% inspection system that ensures that each sheet is free of glitches and printed to the set colour quality.