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Printed Electronics World
Posted on March 9, 2010 by  & 
External Company Press Release

MuTracx secures additional Lunaris project funding of US$11.3M

MuTracx BV, a technology spin-out from Océ Technologies, have secured additional funding of US$11.3M for the Lunaris project. Lunaris is an industrialized solution for the jetting of etch resist for Printed Circuit Board (PCB) inner layers. The additional funds have been raised from multiple sources and bring the total post spin-out funding to US$17.5M.
 
Henk Jan Zwiers, MuTracx Managing Director, said "The management team has worked hard in recent months to lock down the necessary funding to enable us to bring Lunaris to market. The economic climate hasn't been the best, but we've been fortunate in attracting a group of investors who share our belief in Lunaris and the foresight to fully commit to the project. This new funding was raised from several sources; BOM, Technostarters Spin-Off Fund (funded by the Province of Noord-Brabant), Technostars Venture Capital, Océ Technologies, Sioux and Rabobank and not forgetting a significant amount of partner funding".
 
Paul ter Heegde, BOM Director of Participation Management, added "We are delighted to be involved in the Lunaris project. MuTracx has a well balanced management team for a spin out and some ground breaking technology. Brabant has built a long standing reputation for innovation over the years, but even against our regions high standards, Lunaris is outstanding and will revolutionize the way that Printed Circuit Boards are manufactured across the globe."
 
 
Anton Schaaf, Océ Technologies CTO, commented "MuTracx is our first technology spin out. We have all learned a lot from this funding process. It has been an invaluable experience and one that will serve us well for future spin-outs. It is especially pleasing that we have concluded a deal for MuTracx as Lunaris is an excellent product and leverages much of Océ's core technology. As such, MuTracx will become an important and significant OEM customer for us in the future."

About MuTracx

MuTracx is an Océ spin off whose primary focus is to revolutionize and dominate the PCB inner layer production market. MuTracx will produce the first fully digital inner layer printer based on inkjet technology,they have called this machine Lunaris. Lunaris offers exceptionally high yield and productivity. Their goal of 100% correct panels into the subsequent process steps will be enforced with the introduction of in-line process validation. As such, MuTracx will provide the world's first true industrial inkjet application.
 
For more information on MuTracx and Lunaris, visit www.mutracx.com External Link.

About Océ

Océ is one of the world's leading providers of document management and printing for professionals. The broad Océ offering includes high speed digital production printers and wide format printing systems for both technical documentation and color display graphics, as well as office printing and copying systems.
 
Océ is also a foremost supplier of document management outsourcing. Many of the Fortune Global 500 companies and leading commercial printers are Océ customers.
 
 
The company was founded in 1877 with headquarters in Venlo, The Netherlands. Océ is active in approximately 100 countries and employs some 22,000 people worldwide. Total revenues in 2009 amounted to € 2.6 billion. Océ is listed on Euronext in Amsterdam.
 
For more on Océ, visit www.oce.com External Link

About BOM

The mission of BOM is to create opportunities for the province of Noord-Brabant by enhancing sustainable economic growth and innovative capacity.
 
BOM provides support to businesses that actually leads to improvement, by assuming the role of organiser and participant. BOM has four core activities: the foreign investment team is engaged in recruiting and anchoring companies that can strengthen the economic structure of Noord-Brabant. The Venture capital division is seeking and investing in innovative companies with excellent prospects and new business development focuses on strengthening the competitiveness of enterprises, by stimulating innovation and partnerships. Last but not least, restructuring industrial estates encourages, supports and contributes to the restructuring of business estates in Noord-Brabant.
 
 
For more on BOM visit www.BOM.nl External Link.

About Technostars

Technostartersfonds Southern Netherlands BV (Technostars) invests in young innovative companies working on developing and distributing new products.
 
Technostars attaches great importance to passionate entrepreneurs and also looks at the skills, experience and market knowledge. Technostars uses market return criteria, the level of our efficiency requirement is of course connected with the risk of participation, the nature of participation and the business stage.
 
For more on Technostars visit www.technostars.nl .

About Sioux Group

Sioux supplies trend-setting services and products for embedded systems, medical systems and remote solutions.
 
For more on Sioux visit www.sioux.eu External Link.

About Rabobank Venlo e.o.

Rabobank Venlo e.o. is one of the bigger Rabobank operations in the province of Limburg with around 175 employees. A powerful and innovative bank offering high-quality service whilst at the same time local and involved.
 
For more on Rabobank visit www.rabobank.nl External Link.
 
Image sourced from www.mechatronicamagazine.nl External Link.
 
 
 
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