$7m funding to be used to launch the Jettable Maverick printer at Tecnargilla 2010 and to expand sales, distribution network and customer support.
Netanya, Israel, June 15, 2010; Jettable, developer and manufacturer of digital printers and inks for ceramic decoration, announced the successful completion of a $7m investment round. Financing was provided by Aviv Venture Capital, 360° Capital Partners and a group of private investors. Aviv Venture Capital invests in Israel- related technology companies, with a focus on those providing "unique high-tech solutions to traditional industries". 360° Capital Partners is a Milan and Paris based Venture Capital fund with investments in over 70 companies since 1997.
Founded in 2003 by Warren Green, Jettable delivers ceramic tile manufacturers and designers innovative digital systems to expand their product portfolio, improve productivity, and adapt rapidly to market trends and customer demands.
Mr. Yoav Chelouche, the new Chairman of Jettable, has over 25 years experience in digital inkjet. "This investment signals our continued trust in the digital printing industry, and specifically in inkjet technology for the ceramic market", and adds that "Jettable's products demonstrate the high manufacturing quality, speed and production volume required for ceramic product lines. The Jettable Maverick is the culmination of the company's many years of experience”.
David Ofek, Jettable CEO, said: "We will leverage this investment to expand our distribution network, sales and customer support in all target markets and to launch our flagship product, the Jettable Maverick– a high-speed, inline ceramic tile printer – at the premium industry event, Tecnargilla 2010. This product will be the fastest, highest resolution printer available in the market."
Negev Ceramics, a leading tile manufacturer, was among the first to identify the advantages of the Jettable's printing technology. CEO Avi Motolla says: "Our vision and market understanding led us to adopt Jettable's ground-breaking technology 18 months ago and we feel the benefits on our product line and in the reception of the variety of designs we now deliver to our customers."
The ceramic tile industry has an annual turnover of US $40 billion, comprising of thousands of glazing lines in manufacturing centers around the world. The industry move to digital inkjet decoration has accelerated in the past two years. Digital printing enables manufacturers to achieve significantly higher quality at lower costs and reduced inventory by producing shorter runs, as required by the market.
About Jettable
Founded in 2003, Jettable develops and manufactures next-generation pigmented ink and inkjet platforms for ceramic tile decoration. Located in Israel, in the heart of the largest cluster of inkjet development companies in the world, Jettable employs experienced best-in-class chemists and engineers. The company shareholders are leaders in the field of inkjet, ceramics and high technology products. Machines and inks are distributed through selected partners and distributors in major markets, such as Europe, Brazil, India, China and Turkey.
Company Contact
Boaz Bar-Ilan
Marketing Manager
Tel: +972 9 885 7391