£490k LBA investment cornerstones Lumejet’s £1.87m funding round led by Paul Anson of Qi3 Accelerator
Early stage Coventry based high quality imaging technology specialist, Lumejet, has secured £1.87m in a second funding round which was cornerstoned by a £490k investment by LBA investors including £90k from the LBA EIS Roundtable Syndicate Fund 2012. The company has developed a new LED imaging technology that can provide high precision printed solutions for a variety of specialist markets. The LumeJet technology has been designed from the ground up to exploit the proven continuous tone quality of Silver Halide(AgX) media and its extended colour gamut (larger than CMYK inks). This produces vibrant, smooth and colour accurate images. The new investment will be used to further develop this ultra high quality imaging technology and brings the total investment in the company to just in excess of £4.5m. The funding round has been notable as one of the largest angel rounds in the UK, a reflection of the interest in the company and its technology
Paul Anson, Lumejet CEO, comments, “"We are very pleased at the response to our offering. Attracting investment to high value manufacturing propositions can be difficult, but our Angel investors have recognized the potential of the LumeJet technology. Now we can get on and deliver a digital printing system that will change the market completely for some sectors."
Anthony Clarke, Managing Director of London Business Angels, comments, “When Paul Anson came to LBA it was clear that LumeJet was a strong opportunity with the potential for explosive growth and this is reflected in the very significant financial contribution from LBA members and our EIS Fund. Paul's belief in the business due to his past successes in the printing industry started as an angel investor in the company and led to his current position as CEO. A great example of the Power of Angel investing."
London Business Angels
Anthony Clarke, Managing Director
Tel: +44 (0)20 7321 5672
E-mail: enquiries@lbangels.co.uk
Web: www.lbangels.co.uk
About London Business Angels
LBA is one of the most experienced private angel networks in the UK. Since the early 1980s the network has been connecting innovating fast growth small and medium sized enterprises with investment through our network of business angel investors. LBA, part of Angel Capital Group, is professionally managed by a highly experienced management team, leveraging over 15 years’ experience in the early stage investment marketplace as established leaders in the development of new angel-led early stage investment initiatives, and nearly 30 years’ investing experience through the LBA network. LBA is a founding member of the British Business Angels Association, the industry's best practice trade association, and is also a member of EBAN, the European Business Angels Network.
About the LBA EIS/SEIS Approved RoundTable Syndicate Funds
The LBA EIS Approved RoundTable Syndicate Fund is the culmination of 30 years’ experience of pioneering innovation in the UK Angel investment market. This FSA regulated HMRC Approved EIS Fund offers LBA Investors an innovative way to acquire a portfolio of investments, while taking advantage of the personal tax relief offered by the Enterprise Investment Scheme. The First £300k LBA EIS RoundTable Fund 2010 was fully invested in January 2011, making four investments in leading edge technologies during the previous year, spread across a range of sectors: Eykona (medtech); Syrinix (cleantech); ipadio (mobile); The Electrospinning Company (nanotech).
Following the successful 2010 Fund, the LBA EIS Approved RoundTable Syndicate Fund 2011-12 closed for subscriptions on 13 May 2011, being 40% larger at £420k. The fund invested in 5 leading edge technologies spread across a range of sectors: Camstent (medtech), Momentum Bioscience (medtech), Phase Vision (high value manufacturing), Michelson Diagnostics (medtech), Isotera (cleantech)
The LBA EIS Roundtable Syndicate Fund 2012, closed for subsciprtions on 5th April 2012, being the largest raised to date at £455k. The fund will seek to invest in 5-6 early stage companies in the forthcoming year.
The LBA SEIS Roundtable Syndicate Fund 2012, closed for subscriptions on 19th October 2012 and will seek to co-invest across 4-5 SEIS eligible deals alongside LBA investors
