Highcon raises more than $18M to accelerate the Digital Manufacturing transformation for Paperboard Packaging and Display

blank
blank

Yavne, March 3, 2022: Highcon Systems Ltd. yesterday filed a report with the Tel Aviv Stock Exchange announcing the fund raising of $18.5M by means of a private share placement. Two of Israel’s largest insurance companies led the investment round and increased their stake in the company further to the company’s flotation on the Tel Aviv Stock Exchange in November 2020. This latest investment further strengthens the company’s already healthy balance sheet.

“Highcon has great momentum at the moment, and the capital we are raising today will allow us to continue accelerating and executing our aggressive business plan” said Shlomo Nimrodi, Highcon’s CEO. “We laid the foundations for long term growth in 2021 and are looking to roughly double our revenues in 2022. I’d like to thank the investors for participating and for their vote of confidence in Highcon. We’ll do everything possible to unlock the huge opportunity that awaits us in the packaging market.”

Early this year the company released an unaudited forecast for its 2021 revenues that showed year-over-year growth of around 70% to $14.3M. At the same time, it forecasted that 2022 revenues would be in the range of $25-30M. The company expected that its recurring revenues from consumables and service also grew by 70% year-over-year. Highcon reported an estimate of 2021 year end cash balances of $23.7M.

 

Share Press Release post

More Press Releases

post-image
Independent Research Confirms Highcon’s Non-Crush Creasing Delivers Stronger Boxes than Analog Die Cutting and Saves Manufacturing Costs and Trees

More Info
post-image
McGowans Digital Print Installs First Highcon Digital Finishing System in Ireland

McGowans Digital Print, Ireland’s leading printing company, has taken the next step in its digital journey with installation of the country’s first Highcon Beam 2 digital cutting and creasing solution.

More Info
post-image
Highcon and Tilia Labs Partner to Improve Productivity for Folding and Corrugated Converters

Tilia Labs tilia Phoenix software to be provided with all Highcon digital converting systems

More Info