LumeJet embarks on crowdfunding project

LumeJet has launched on the Crowdbnk platform and is looking for an investment of two million GBP (3.2 million USD), which will give the new investors a 20 percent equity stake in the company. Members of the public, angel investors and anybody from the print industry can register to become an investor, and LumeJet said it welcomes investors interested in investing anything from 5,000 GBP (around 7,950 USD) to 500,000 GBP (around 795,000 USD) in its current round of fundraising. It aims to make new offers in 2015 to shareholders that get involved now.

To date, LumeJet has raised around eight million GBP (12.7 million USD), mostly from private individuals and publicly backed institutions. It recently won its first industry award and this year it has presented at Buckingham Palace and No. 10 Downing Street, when it was selected as one of the 10 most promising digital companies in Britain. It was also awarded Syndicate Deal of the Year in 2012 by the UK Business Angel Association. 

The crowdfunding initiative was introduced last week with support from a couple of Crowdbnk launch events, and with an initial target of 1.47 million GBP, with plans to extend it to two million GBP. To date (November 5), 82 percent of the initial target has been raised from 17 investors, with LumeJet describing the response as 'great in such a short time'.

The funding will be used primarily for increasing sales and customer support, and the development of derivative products, with the remainder to be allocated to securing and developing intellectual property, general overheads and working capital.

Lumejet founder Dr Trevor Elworthy said: ‘To think big, you have to think differently these days. We have massive ambitions for our company and that takes cash – and who better to offer investment returns to than the very industry that has supported us thus far.

‘This funding round - our terrific S200 product - it is all just the start of our plans and we are offering the people of print the chance to be owners and enablers of something massive and exciting, on the same terms as current investors. We think differently, unconstrained by the shackles of big corporation, never following the herd – we are just warming up.’

LumeJet is a UK digital print innovator, specializing in photonics and the design, development and manufacture of ultra-high resolution printers featuring this technology for use in production environments.

As well as printers, it is also developing other applications for its photonic imaging technology. Last year, LumeBar, LumeJet’s technology for high speed industrial applications of inkless, photonic printing, was awarded 250,000 GBP of funding through the UK Technology Strategy Board’s Smart program.

LumeJet chief executive officer Paul Anson (pictured) said: ‘Our ultra-high quality range of printers is a key part of our business, but we are also working on a printhead offering 50 times more output, have proven our UV printhead in the lab for digital lithographic applications and are investigating new photo-sensitive coating technologies for volume applications.

‘Whilst we will always protect client and partner confidentiality, even from shareholders, we have a list, as long as your arm, of major names in the industry that are in dialog or working with us on a wide range of breakthrough printing applications. The applications include a variety of projects such as volume on-demand inkless packaging printing and the manufacturing of printed electronic components such as flexible displays, plastic logic components and low cost sensors.’

Anson, who was also a co-founder at Inca Digital Printers, added: ‘I spend a lot of my time trying to explain to investors, normally involved in internet businesses, biotech and software, that the print industry is massive, diverse and full of opportunity all over the globe. Then it occurred to me – the people that know this already are in the print industry and LumeJet’s culture is one of openness and collaboration. Let’s let everybody and anybody be a part of building a new print technology business financially as well as commercially.’