TEL AVIV (Reuters) - XJet, which develops technology for 3D printing for metal parts, said on Thursday it raised $25 million in a funding round led by Israeli-Chinese private equity fund Catalyst CEL and design software maker Autodesk (ADSK.O).
XJet’s technology uses solid metal nanoparticles suspended in liquid ink in sealed cartridges. Extremely high temperatures cause the liquid “jacket” around the metal nanoparticles to evaporate, resulting in strong binding of the metal.
The company originally developed a printing solution for the solar panel industry and expanded into manufacturing in 2013.
From 2007-2011 XJet raised $60 million from investors including Applied Materials and Israel’s Landa Ventures and in 2014 it raised another $22 million to fund its transition from the solar panel sector. The latest financing will be used to launch its products in global markets.
Catalyst CEL Fund, which last month said it raised over $200 million, is a partnership between Catalyst Private Equity in Israel and China Everbright Ltd (0165.HK), a Hong Kong-based asset manager. The fund said it expects to help XJet penetrate China’s manufacturing sector.
Reporting by Tova Cohen