June 28, 2017 / 1:02 PM / a year ago

Israeli digital printing firm Highcon raises $20 mln

TEL AVIV, June 28 (Reuters) -

* Israeli digital printing startup Highcon said on Wednesday it raised $20 million in a funding round led by Jerusalem Venture Partners.

* Existing investors Landa Ventures, LR Group, OurCrowd and Go Capital also participated. The financing will go towards global expansion and development of Highcon’s digital finishing products.

* The global printing industry is predicted to reach $980 billion by 2018. The folding carton segment and commercial printing markets are worth $82 billion and $167 billion respectively, Highcon said.

* Highcon enables printers and packaging converters to offer differentiated services not possible with traditional systems. Its products create crease lines and are used for cutting and etching, accelerating the creation of custom packaging and paper products.

* The company has installed more than 50 machines worldwide. (Reporting by Tova Cohen)

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