Xolid Closes €5 Million Round on Equity Crowdfunding Platform CrowdFundMe
Xolid has recently raised $5.1 million (€5 million) from 20 investors. The system used by Xolid was developed in-house after about 10 years of research into materials and production processes. In 2021 – “year 0” of operations – the company generated revenues of $1.43 million (€1.4 million) with approx. 40 customers in the second half of the year.
In recent days, Xolid Srl, an innovative SME that owns the Atiu brand and specializes in eco-friendly glass decoration for packaging, closed a $5.1 million (€5 million) equity crowdfunding round on CrowdFundMe. The raising was led by lead investor Luca Pretto, through Luca Pretto Holding, which invested 2.5 million, joined by 20 other institutional and retail investors.
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The capital raised by Xolid-which was supported by advisor Banor SIM-will be used to build a production line from scratch
Xolid, founded by entrepreneurs Alessandro Volpato and Tito Trevisan and based in the Verona area, has developed a proprietary technology-branded “Atiu”-for decorating bottles or containers through the sublimation of glass, ceramic, aluminum and other hard materials. The system was developed in-house after about 10 years of research into materials and production processes. In 2021 – “year 0” of operations – the company generated revenues of $1.43 million (€1.4 million) with approx. 40 customers in the second half of the year.
In addition, the solution is “Environment-friendly,” as, thanks to the use of water-based paint, the product is 100 percent recyclable and, through ink-to-glass printing, does not require the presence of removable plastic films on the final product.
“We are satisfied with this result, very nice that the research work of these years has been recognized and can now express itself at its best,” said Tito Trevisan. Alessandro Volpato added, “Now we have the opportunity to grow at other rates. With the help of new finances, a pool of important investors and new collaborators. It’s time to shift gears.”
The ATIU solution is particularly popular in the ‘Premium’ or ‘Luxury’ segments where packaging (e.g., perfume ampoules, high-quality beverage bottles etc.) is an essential merchandising and brand communication tool.
The capital raised by Xolid-which was supported by advisor Banor SIM-will be used to build a production line from scratch and increase production capacity by creating a new plant to meet the ever-increasing existing demand. Through this strategy, the issuer will be able to implement strong cost reduction and higher margins.
“The 5 million raised by Xolid demonstrates that equity crowdfunding can be a significant tool to facilitate capital raising towards SMEs,” said Tommaso Baldissera Pacchetti, CEO of CrowdFundMe, “The issuing company is an Italian jewel in the landscape of small and medium-sized enterprises, which represent the backbone of our economy. As CrowdFundMe we are pleased to have made a contribution to this operation.”
For investors Luca Pretto said, “I am enthusiastic about the idea, the product and the target market. The team is prepared and very close-knit, I believe we can achieve excellent results in a short time.”
(Featured image by msandermusic via Pixabay)
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