Highcon raised $20 million for Packages Cutting Machines
28 June, 2017
“Highcon’s field-proven digital technology is bringing about a radical change. Their solutions create customized products that jump off the shelf for consumers.”
The the inventor of the digital cutting and creasing solution for the post-print market, Highcon from Yavne, Israel, announced the completion of a new round of funding led by Jerusalem Venture Partners (JVP) and the existing investors: Landa Ventures, LR Group, OurCrowd, and Go Capital. The $20 million financing round will be used for further product development of digital finishing solutions.
Highcon targets big market: The global printing industry is predicted to reach $980 billion by 2018, while its folding carton segment is estimated to reach $82 Billion and $167B respectively. Highcon has developed its patented Digital Adhesive Rule Technology to create crease lines and high-speed laser solutions for the cutting and etching. The system accelerates the creation of custom packaging and paper products on-the-fly. Aviv Ratzman, Highcon CEO and Co-founder, said that the global printing industry has been dominated by Israeli digital printing technology for decades. “We are bringing that tradition to the next level.”
Since the launch of the first Highcon machine at drupa 2012, the company has installed more than 50 machines worldwide. “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.”
The company provides three main product lines: Highcon Beam for digital cutting and creasing is a digital solution with a speed of up to 5,000 sheets per hour. Highcon Pulse brings this technology to the B2/29 inch format, while Highcon Euclid III enables a wide range of applications from packaging and commercial print applications to customization with Variable Data Cutting and even 3D modeling. The Highcon Axis 2D to 3D platform is a software solution handles all the intricacies of 3-dimensional folding applications.