Spin-out's value soars

Cambridge Consultants' spin-out company, Inca Digital Printers, has successfully secured second round funding totalling £2 million. The financing was led by Advent Venture Partners, the leading inde-Pendent technology venture capitalist.

CCL has an enviable pedigree in the printing industry, following the creation of both Xaar plc and Domino plc, and most recently with Inca Digital in May 2000. Inca Digital was set up to specialise in industrial printers using piezo inkjet technology. In its first year it has launched the Eagle 44 flatbed press for large format posters and point of sale material, and plans to rapidly extend its product portfolio by introducing new products over the next 18 months.

Bill Baxter, managing director, says: "After first stage funding the company was valued at £6 million but today, just 16 months later, the company is valued at £27 million. We plan to lift sales from the current £9 million to £60 million by April 2005 and increase staff numbers from 70 to 250 in the same period. We have a team of gifted engineers and software developers who are key to creating imaginative and productive new solutions. We are committed to bringing products to market and this funding will allow us to accelerate our growth."

Dave Cheesman of Advent Ventures, a non-executive director on the Inca Digital Board, explains why the new injection of capital is a wise investment: "Since we first invested in Inca Digital, the company has achieved considerable growth and already has a strong customer base. This latest funding will allow Inca to significantly accelerate its product development programme and will enable the company to consolidate its leading market position."

Notes for editors:

Cambridge Consultants develops breakthrough products, creates and licenses intellectual property, and provides business consultancy in technology critical issues for clients worldwide. For over 50 years, the company has been helping its clients turn business opportunities into commercial successes, whether they are launching first-to-market products, entering new markets or expanding existing markets through the introduction of new technologies. With a team of over 300 engineers, designers, scientists and consultants, in offices in Cambridge (UK) and Boston (USA), Cambridge Consultants offers solutions across a diverse range of industries including medical technology, industrial and consumer products, transport, energy, cleantech and wireless communications.

Created by three Cambridge graduates in 1960, the company has grown into a leading technology business, renowned worldwide for its ability to solve technical problems and provide innovative, practical solutions to commercial issues. In 2009, the company was awarded the prestigious Queen’s Award for Enterprise in International Trade, and in 2011 was awarded a second Queen's Award, this time for Innovation. For more information visit: www.CambridgeConsultants.com

Cambridge Consultants is part of Altran, global leader in innovation and high-tech engineering consulting. Altran supports companies in the creation and development of their new products and services. For thirty years, the Group has been providing services to key players in the fields of Aerospace, Automotive, Energy, Railways, Finance, Healthcare, and Telecoms. Present at every stage of project development from new-technology strategic planning through to manufacturing, Altran is able to capitalise on its expertise in four key domains: Product Lifecycle Management, Mechanical Engineering, Systems Engineering & Embedded Systems and IT Systems. With a global network of 17,000 collaborators (including 15,000 consultants) and 500 major clients throughout the world, the Group reported sales of €1,420m in 2011. More info: www.altran.com

For further information:

Cambridge Consultants

Patrick Pordage
Marketing Communications Director
Tel: +44 1223 420024
Patrick.Pordage@CambridgeConsultants.com

Inca Digital

Heather Kendle
Tel:+44 1223 577800
www.incadigital.com