Silicon Valley Bank (SVB), a division of First Citizens Bank, provided a $50 million growth capital facility to Lumafield, a company in manufacturing technology that delivers AI-powered manufacturing intelligence.
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,” Eduardo Torrealba, CEO and co-founder of Lumafield, said. “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.”
Chris Morrison, managing director for SVB Technology and Healthcare Banking, said, “With their innovative technology platform, Lumafield is making high-performance CT inspection accessible and practical for a wide range of companies and manufacturers. SVB is excited to continue our long-standing relationship with Lumafield by providing this facility to help them grow and scale their business.”
