Israeli start-up Objet Geometries has recently changed one ExScite CEO (David Ofek) with a new ExScite CEO (Hanan Yosefi).
In an interview with Globes Hanan said that Objet is holding advanced negotiations to raise $10 million from existing and news investors. The round is expected to be completed by the end of the year. The company has raised $5 million so far, and now wants to raise an additional $5 million from strategic investors from the product design and development and polymer product development sectors. He said the company expects to reach the break-even point in mid-2003.
During his 13 years at Scitex Israel, Hanan has held application and marketing positions.
Objet Geometries, founded in May 1998, develops 3D network printers and materials that create models directly from three-dimensional CAD files using patented hardware, software and polymer materials. Investors in the company include Scitex, TDA Capital Partners and private investors. The company is headquartered in Rehovot and has 60 employees at its offices in the US and Brussels.