Luxexcel moves into next phase with new CEO Fabio Esposito and $13.9M investment
The 3D printed lens specialist says the new leadership and funding will enable it to move into its next phase
Luxexcel, a Dutch company specializing in 3D printed lenses and specifically ophthalmic lenses, has released a couple of exciting announcements today. For one, Fabio Esposito, the former President and CEO of Solidscape, has been appointed as Luxexcel’s new CEO, replacing Hans Streng. And second, the company has raised $13.9 million through a Series C funding round.
Looking first at the new CEO appointment, Luxexcel says Esposito will bring to the company his expertise in transforming a business from tech innovators to “established players.” Most recently, Esposito served at CEO of wax 3D printing company Solidscape—we even spoke to him about the company’s acquisition by Stratasys and then Prodways.
His experience in the additive manufacturing sector—as well as time working in optical systems technologies—will bring something new to the table for Luxexcel as it moves into its next phase. As mentioned, Esposito will be taking over from outgoing CEO Hans Streng, who served as CEO for two and a half years. According to his LinkedIn profile, Streng remains on the on the advisory board for the 3D printed lens company.
“After several years at the helm of Luxexcel, I am ready to enjoy more time with my family,” said Streng. “I am proud to have been able to bring Luxexcel together with the management team and our dedicated employees to this level. With Fabio, I am convinced we have found the perfect CEO to lead Luxexcel through the next phase.”
Critical to bringing the company into its next phase is the closing of a successful funding round which brought in $13.9 million. The investment round, led by Innovation Industries, also saw further funding from existing investors, including SET Ventures, Munich Venture Partners, PMV regional investment fund and KLA-Tencor Corporation. Luxexcel says the significant investment will enable it to accelerate its growth and drive towards the production of lenses for smart prescription glasses.
“I am excited to join the Luxexcel team in this pivotal phase of the company’s growth,” commented Esposito. “Building on the success achieved under Hans’ leadership, the focus will now be ramping up commercialization and product development. We will continue to capitalize on the introduction of the VisionPlatform™ as well as expanding the team to grow Luxexcel to the next stage.”
Founded in 2009, Luxexcel has carved out a niche in the additive manufacturing market with its lens 3D printing technology. Presently, the company is the only one in the world with the capability to 3D print custom lenses. In recent years, the company received ISO certifications for its ophthalmic lenses.
Nard Sintenie, a partner at Innovation industries, commented on her firm’s investment, saying: “We are impressed by both the progress Luxexcel has been making in developing this great technology as well as the traction the products are getting in the eyewear market. With the new CEO and this funding, Luxexcel will scale her business and the installed base of the VisionPlatform.”