Latvia’s innovative clay additive manufacturer Alina has raised a EUR 550,000 investment from business angel syndicate, the company reported LETA.
investment will fund the development of a demo plant with a production capacity
of up to 40 tons per year, as well to accelerate Alina product sales, that includes research and development work
with potential clients. Demo production is a particularly important milestone
for Alina business because a fully
tested production plant in Latvia opens the possibility to outsource
manufacturing via partners in Europe.
One of the
investors, Jerry Wirth, said that
the investors were impressed with the co-founders’ talents and dedication and
the innovative approach they are taking to enter the paint additive industry.
Alina co-founder Solvita Kostjukova
said that this seed investment will help the company ramp up production so that
Alina can enter the European market
and create the strategic partnerships that are critical for scaling in Europe.
Alina belongs to Kostjukova (70%), Davids
Stebelis (20%) and Girts Ozols
(10%). The company was founded in December 2016, and has a share capital of EUR