QUEBEC CITY, Oct. 23, 2024 (GLOBE NEWSWIRE) — Laserax announces the raising of $45.5 million in its Series C financing led by the Business Development Bank of Canada, BDC, through its Industrial Innovation Venture Fund, with significant participation from existing investors Investissement Québec (IQ), Desjardins Capital. The package also includes a new credit facility from Desjardins Technologie & Innovation and support from the National Research Council of Canada (NRC-IRAP). This achievement testifies to the investors’ confidence in the Québec-based company’s ability to materialize its ambitious growth plan aimed at making it a world leader in the industrial laser technology sector.
“In an ecosystem where successful start-ups are too often bought by foreign multinationals, this round of financing sends a strong message to our industry that Laserax is fully committed to its ambition to conquer and dominate the market. Beyond this investment, which will substantially accelerate our organic growth, we intend to rapidly add other financial tools to make strategic acquisitions in order to strengthen our geographic positioning and diversify our technological portfolio”, says Xavier Godmaire, President of Laserax.
A PLAYER IN THE ENERGY TRANSITION
Through its many innovations, Laserax is actively participating in the transition to a greener, more efficient economy by developing laser technologies that have a major impact on the productivity and carbon footprint reduction of its manufacturing customers.
The company is particularly active in the transportation electrification and renewable energy production markets. Laserax has a strong intellectual property position, guaranteeing protection and differentiation of its technologies. The new investments will be used in particular to accelerate Laserax’s innovation velocity through the hiring of new talent and the acquisition of specialized equipment.
“Over the past 14 years, Laserax has built strong relationships with leaders in the transition to electric vehicles (EVs) and battery manufacturers. We have a team of brilliant professionals, and I’m very proud to be pushing the boundaries of laser with them to propel Laserax to new heights,” insists Alex Fraser, CTO and co-founder of Laserax.
QUOTES
“Laserax continues to assert its leadership in industrial laser solutions. With an experienced management team and exceptional technological know-how, the company is well-positioned to seize significant market share in a rapidly transforming sector. BDC is proud to lead this round of financing and contribute to the energy transition by supporting the development of more sustainable industrial innovations.”
Geneviève Bouthillier, Executive Vice President, BDC Capital
“With its innovative technologies, Laserax plays an important role in the manufacture of electric vehicles and batteries that are at the heart of Quebec’s energy transition. We’re proud to support this dynamic company in its initiatives to enhance its performance and make its ingenuity more widely known in industries committed to decarbonizing our economy.”
Christine Fréchette, Minister of the Economy, Innovation and Energy, Minister responsible for Regional Economic Development and Minister responsible for the Greater Montreal Area
“Laserax continues to grow in the Capitale-Nationale region with this major investment project. Already recognized for its expertise in technological innovation, the company is taking another step forward to strengthen its competitiveness and accelerate the production of its laser solutions, which are assets for the electrification of transportation and energy storage in all our regions.”
Jonathan Julien, Minister responsible for Infrastructure and Minister responsible for the National Capital Region
“As a financial partner of Laserax since 2013, Desjardins Capital is proud to once again support Laserax in its growth. From its modest beginnings as a startup with a few employees in the basement of Laval University, Laserax has become a young multinational. It is now a major player in the automotive industry. Laserax embodies our ability to support Quebec entrepreneurs at every stage of their growth.
Nathalie Bernard, Chief Operating Officer, Desjardins Capital
ABOUT LASERAX
Founded in 2010, Laserax is an innovative company specializing in industrial laser solutions. With over 115 employees, the company has recorded an average annual growth rate of 60% in recent years, and is forecasting revenues of $100 million in 2026-2027. Headquartered in Quebec City, the company also operates facilities in Michigan, Germany and Japan.
SOURCE
Laserax | LinkedIn | Facebook | YouTube
MEDIA CONTACT :
Anne-Marie-A. Savoie | [email protected] | C 418 934-7448
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