Label-printing startup Wisby raises €400,000 in venture capital
Estonian startup Wisby has raised €400,000 in capital. Wisby says it is using the funding to help revolutionize the printing sector.
The funding was raised via Swedish venture capital firm Icebreakers VC.
Wisby CEO Kaspar Pälli says that the printing industry is still mired in a dated approach to communication between producers and customers, and is in urgent need of automation.
He said: "Our ambition is to bring together the core of European label manufacturers on to our platform, and to grow into the number one ordering platform for the printing industry," adding that labels for the food and drink industry were particularly key to the company, which would be able to offer prices as much as 25 percent lower than those currently on offer.
Pälli mentioned metal fabrication company Fractory as comparable within its own field, in achieving this goal.
Pälli said that various forecasts estimate that as much as 80 percent of the printing sector's orders will have moved to the e-environment by 2025, meaning Wisby can take advantage of the change and bridge the gap between markets and customers.
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Editor: Andrew Whyte