Aprion Digital has raised $7 M. Rumor has it that Hitachi is the investor. Miki Nagler declined to confirm or deny the report. Before the Hitachi investmet, Scitex has held 10% equity position at Aprion.
Israeli start-up Aprion Digital has raised $7 million. Aprion was spun off from Scitex (Nasdaq: SCIX ) two years ago. Sources inform ”Globes” that Hitachi is the investor. The strategic investment in Aprion is at a company value of $150 million, before money.
Aprion Digital president and CEO Dr. Miki Nagler declined to confirm or deny the report. Aprion develops proprietary inkjet technology for digital printing presses. At the time of its spin-off from Scitex, Aprion raised $25 million from Scitex, Clal Electronics Industries, Discount Investments Corporation and Templeton. The company raised a further $20 million last year from Toyo Ink, Bank Hapoalim, and Israel Infinity Fund. Some of Aprion’s printers are in the final stages of development, while others are being installed at customers’ facilities. Aprion is designing its products for the packaging large format/signage, book and document printing markets. The company’s technology will allow the ordering of thick books through the Internet and will enable the tomes to be directly delivered to customers. Aprion has over 100 employees at the Netanya industrial zone. Nagler was responsible for over 50 patents in the digital printing field during his 18 years at Scitex. Published by Israel’s Business Arena on 29 October 2001