£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."