Fast Growth Lumafield Secures $50 Million Growth Capital Facility
Silicon Valley Bank has announced it has provided a $50 million growth capital facility to Lumafield, a pioneer in advanced manufacturing technology that delivers AI-powered manufacturing intelligence to help companies improve product quality, accelerate development, and automate operations. The company’s industrial computed tomography (CT) scanners and machine learning technology are embedded in production lines at some of the world’s most recognized brands in the medical device, consumer packaged goods, automotive, and battery sectors.
Provided by Silicon Valley Bank’s Technology Banking Group, the new financing will help Lumafield keep pace with strong demand by funding the deployment of more scanners to its growing customer base.
“This new facility is a testament to our growth and the value we’re delivering to manufacturers — from automakers developing more efficient EV batteries to medical device companies innovating surgical tools,” said Eduardo Torrealba, CEO and co-founder. “Silicon Valley Bank has been a trusted partner to Lumafield, and their support allows us to scale efficiently while also focusing on product innovation and go-to-market expansion.”
“With their innovative technology platform, Lumafield is making high-performance CT inspection accessible and practical for a wide range of companies and manufacturers,” said Chris Morrison, Managing Director for SVB Technology and Healthcare Banking. “SVB is excited to continue our long-standing relationship with Lumafield by providing this facility to help them grow and scale their business.”
Fastest Growing Technology Company
Lumafield has also announced it ranked 54 on the Deloitte Technology Fast 500, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 31st year. Lumafield grew 2,155% over a three-year time frame.
Lumafield Chief Executive Officer Eduardo Torrealba credits the company’s 2,155% revenue growth to strong customer adoption as manufacturers look to increase operational efficiency and elevate product quality amid ongoing skilled-labor shortages. He said, “Manufacturers need to bring new ideas to market faster, automate critical processes, and improve quality, all while operating with leaner teams. This recognition reflects the trust our customers place in us as they rethink how they design, build, and scale products in pursuit of more predictable and autonomous operations.”
For more information: www.lumafield.com
