Gelato Raises $20M to Accelerate B2B Growth and Geographical Expansion
Tuesday, June 05, 2018
Press release from the issuing company
Gelato is the world’s most cost-efficient and environmentally friendly print solution for global companies that want to print locally around the world. It announced today that it has secured $20M of equity led by new investor SEB Pension Fund. Existing shareholder Dawn Capital also participated in the fundraising round, along with all its other current investors.
The additional equity will be used to fund the growth of the B2B organization and to activate additional print partners in South America, Asia and the Middle East.
“Three years ago, we identified a growth opportunity many times larger than the consumer market. We have since invested $30M in building the most environmentally friendly print solution for global companies. Over the three years, we have moved from local production in 13 to 25 countries including the BRICs,” says Henrik Müller-Hansen, CEO & Founder of Gelato.
Gelato´s investments are paying off. In 2017, 60 new companies joined Gelato Globe, including Lufthansa Cargo, Jotun, and Lindab.
Customers and print partners are seeing strong value from moving to Gelato Globe.
“Nine months after activating Gelato in Hexagon Europe we saw total cost of printing reduced by a third. Gelato will now be rolled out across our entire operation worldwide. Printing locally gives us faster delivery and we end up ordering less but more personalized print. Our ambition is to reduce print volumes by 50% and transportation distances by 90%,” says Stephen Graham, Vice President Marketing for the Manufacturing Intelligence division of Hexagon.
"Exakta Print has been a print partner to Gelato for 3 years. We started printing cards and calendars and experienced first-hand how effectively they bundle thousands of small orders into large print runs. We see Gelato moving into the B2B market as a big opportunity. We have already received orders from companies such as BMW and Hexagon. The value that Gelato brings to the global print industry is that orders that were once centrally ordered can now be printed locally in the market where the material should be used," says Håkan Larsson, CEO Exakta Print in Sweden.
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