One such investment was announced today by a company we covered about six weeks ago, Israeli-based startup Nano Dimension. The company, which just recently announced their multi-layer 3D printed circuit board fabrication system, the Dragonfly 2020, may have just received the shot in the arm they need for the rapid roll out of their printer and subsequent business model.
With approximately $1.8 million in the bank, and a very comprehensive business plan, the company got just what they needed, NIS 44 million (approximately $11 million) in cash to help them realize their goals as they prepare for a Wall Street listing. The funding will take place via a private placement at NIS 5.5 per share, which is the average trading price of their stock over the last two months. As a part of the deal, investors will also receive options to purchase additional shares (50% of what they have been allocated) for a 30% premium to the current share price, for a period of two years.
“This is a significant sum, which will make it possible for the company to attain its business goals in the coming years,” explained Nano Dimension CEO Amit Dror. “After the launch of the company’s first-generation printer, we are preparing to work with select clients, and begin commercial production of the company’s unique ink.”
The Dragon 2020 3D PCB printer strays quite a bit from traditional PCB machines in that it can print in multiple layers (up to 10) making it the perfect tool for the prototyping of sophisticated electronics and even small batch manufacturing. The company’s proprietary conductive inks are also an impressive part of their current portfolio and are now commercially available.
Currently, Nano Dimension is trading in Israel at a market cap of NIS 158 million (just under $40 million), making this investment quite a big deal for a company who had a net loss in the first quarter of approximately NIS 3 million on absolutely no revenue. It will be quite interesting to see how quickly the company is able to ramp up production and begin realizing revenue in the months to come. Let’s hear your thoughts on this funding news and the company in general within the Nano Dimension forum thread on 3DPB.com.