Lumafield Raises $35 Million in Series B  

by Kay Aloha Villamor in September 13th, 2022

Lumafield, a Boston, MA-based pioneering developer of accessible X-ray CT technology, announced that it closed a $35 million Series B funding, bringing Lumafield’s total amount raised to $67.5 million to date.

Lumafield achieved a major new AI-driven performance breakthrough and appointed two prominent executives to its board of directors.

The round was led by Spark Capital, with participation from existing investors such as Lux Capital, Kleiner Perkins, DCVC, and Future Shape.

The company also announced the appointment of Victoria Holt, previously the CEO of Protolabs and currently serving on the boards of Waste Management, A.O. Smith, and Piper Sandler, to its Board of Directors, as well as Santo Politi, Founder and General Partner of Spark Capital.

Lumafield's AI allows the company's reconstruction process to achieve the same high-quality results with fewer two-dimensional X-ray images, reducing the time required to run a scan. New improvements in Lumafield's software also make it possible to skip certain steps in the reconstruction process before performing automated analysis, which cuts processing time.

"Lumafield has been fortunate to have some of the world's leading investors back our vision of 'CT ubiquity.' Thanks to their support, we've been able to help engineers change the way they work on everything from cosmetics packaging to bike parts," he said. "We're honored by this vote of confidence from Santo and Victoria, as well as our Seed, Series A, and Series B investors. We're excited to move into our next phase of supercharged growth."-Eduardo Torrealba, co-Founder and CEO of Lumafield, said.

Company: Lumafield, Inc.

Raised: $35.0M

Round: Series B

Funding Month: September 2022

Lead Investors: Spark Capital

Additional Investors: Lux Capital, Kleiner Perkins, DCVC, and Future Shape

Company Website: https://www.lumafield.com/

Software Category: X-Ray CT scanner for engineers

About the Company: Lumafield is a startup that has developed the world's first accessible X-Ray CT scanner for engineers. Lumafield's easy-to-use scanner and cloud-based analysis software give engineers the ability to see their work clearly, inside and out. Lumafield's industrial CT platform starts at less than $3,000 per month and scales from product development labs to high-volume manufacturing operations. By offering unprecedented visibility into products, as well as AI-driven tools that highlight problems and generate quantitative data, Lumafield promises to revolutionize the way complex products are created, manufactured, and used across industries. Lumafield is headquartered in Cambridge, Massachusetts, and has an office in San Francisco, CA.


Source: https://www.prnewswire.com/news-releases/lumafield-announces-35m-series-b-funding-major-product-upgrades-and-new-board-appointments-301619957.html



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