The parties have agreed to keep the scope of the investment confidential.
Velox possesses new digital printing technology for cost effective high-speed photo-quality printing on metal, plastic, or glass packaging, either for extremely small series or for large-scale industrial projects.
“Evonik…sees itself as a partner to the printing industry. The sophisticated demands in the field of digital printing make this market particularly interesting for the development of our Specialty Additives Growth Engine,” said Bernhard Mohr, the head of Evonik Venture Capital.
The inks used have been developed by Velox especially for digital printing on metal, plastic, and glass, and offer, among other advantages, an extremely wide range of realistic colors and embellishment effects applied with superior properties. The company is already offering decoration systems for cylindrical containers such as plastic tubes and aluminum aerosols.
“Digital printing opens up new design opportunities in the packaging industry and allows industry players to distinguish themselves from the competition in new ways,” said Gaetano Blanda, who heads the Coating Additives Business Line at Evonik.
The Velox solution includes a novel printer architecture and a palette of uniquely formulated inks. Velox will initially use the newly available capital to drive technology development and marketing for additional printer systems and applications.
“Our collaboration will enable our Inks technology to reach an even higher performance level and meet any industry requirement” said Velox CEO and co-founder Marian Cofler.
As part of its venture capital activities, Evonik plans to invest a total of €100 million in promising start-ups with innovative technologies and in leading specialty venture capital funds. The regional focus lies on Europe, the U.S., and Asia. Evonik currently holds shares in more than 20 start-ups and specialty funds.