Lumafield raises $75 million to give manu­fac­turers a look deep inside their products as they come out of the lab and off the line

Superheroes are a tired trope in the tech industry, but some companies we invest in really are developing superpowers. Lumafield is bringing affordable and practical Computed Tomography (CT) technology — real-life x‑ray spex for engineers — to the factory floor, offering industrial decision-makers a high-resolution, non-destructive, and highly valuable way to see inside their products during prototyping and when they eventually roll off their lines. Today, Lumafield’s leadership in that capability was given a big boost with the announce­ment that the company has closed a $75 million Series C financing round in which DCVC is proud to participate in along with a terrific roster of new and other returning investors. See great Axios coverage here. 

We have been enthu­si­astic believers in Lumafield since leading their Series A in 2020, and the new injection of funding is just another sign that the time is now for the company’s industry-leading technology. Industrial CT scanners take hundreds of X‑ray images from a number of angles in order to build a high-resolution, 3‑D capture of a product’s components and internal structure. Crucial to making that process relevant to manu­fac­turers has been making it faster. Late last year we wrote about the staggering advance Lumafield had made with the fastest of its industrial scanners: a 3,600X improvement in the speed of generating a given high-quality CT image, as compared to the industry-standard method. This combined with the progress the company has made on afford­ability — their scanners are ~1/10^th the cost of competing machines — has the company poised to make the use of CT scanning for high-volume manufacturing commonplace. 

And Lumafield’s technology is stepping strongly and confidently in to meet a pressing need, as manu­fac­turers looking to contribute to the industrial revival that’s building in the U.S. and across the global economy demand precision inspection tools to make their operations more agile, efficient, and innovative. The company says it has tripled annual recurring revenue each of the last two years, as players in a wide range of industries — agriculture, electronics, aerospace, automotive, athletic equipment, consumer packaged goods, medical devices, batteries, and more — are seeing CT scanning as a practical addition to their toolkit for the first time. 

Lumafield also announced today that it is adding Bill Cronin to the team as Head of Revenue. As the former Chief Revenue Officer at manu­fac­turing innovator Xometry, Cronin has experience in leading the kind of explosive growth that market tailwinds and Lumafield’s industry-leading technology make possible. As cofounder and CEO Eduardo Torrealba made clear, the timing couldn’t be more propitious.

“Industrial CT has been locked away in specialized labs and accessible only to massive corpo­ra­tions for too long,” Torrealba said. ​“By tearing down the barriers of speed, cost, and complexity, we’re putting this powerful technology directly into the hands of manu­fac­turers of every size. That means faster time to market, fewer hidden problems, and the freedom to push boundaries without fear. We’re on a mission to supercharge American manu­fac­turing — and we won’t rest until we’ve made CT inspection an essential tool in every product team’s toolbox.”