Helmond, The Netherlands, Date - MuTracx BV has secured additional funding of USD11.3M 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 USD17.5M.

 

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; 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.”

 

For more information, visit www.mutracx.com.