Lumafield, a leader in industrial X-ray CT technology, has successfully raised $75 million in a Series C funding round led by IVP. The round also saw participation from new investors G2 Venture Partners and Wellington Management, alongside existing backers Spark Capital, DCVC, Kleiner Perkins, Lux Capital, and Matter Venture Partners. This funding will fuel Lumafield’s expansion into large-scale applications and next-generation CT solutions, further enhancing its position in the evolving manufacturing sector as global supply chains shift and the U.S. focuses on industrial innovation.
Eduardo Torrealba, Lumafield’s Co-Founder and CEO, expressed his excitement about the partnership, stating, “We’re thrilled to have IVP and our partners join us in transforming U.S. manufacturing. Now more than ever, this country needs to invest in cutting-edge technology that keeps American industry competitive, builds unstoppable supply chains, and drives global innovation.”
In addition to the funding, Lumafield has announced the appointment of Bill Cronin as Head of Revenue. Cronin, who played a key role in growing Xometry’s sales from $2 million to $450 million and leading its 2021 IPO, will drive the company’s growth and customer adoption efforts. “I’m excited to help scale Lumafield’s impact and put this groundbreaking technology into the hands of manufacturers looking to rethink quality control and build the next generation of world-changing products,” said Cronin.
Lumafield’s Offerings and Market Adoption
Lumafield’s X-ray CT scanners and AI-powered software solutions are designed to detect flaws early in the production process, helping engineers prevent costly failures. These technologies are revolutionizing quality control across industries such as electric vehicles, medical devices, and consumer goods. With the new funding, Lumafield plans to integrate high-resolution, non-destructive inspection directly into production lines, turning quality control into a competitive advantage.
The company’s annual recurring revenue (ARR) has tripled over the past two years, underscoring the strong demand for its hardware and software solutions. Lumafield’s key products include the Neptune scanner, which is used in R&D and quality labs, the Voyager platform for cloud-based CT data analysis, and the Triton system, which performs factory inspections in just 0.1 seconds. Notably, 85% of Lumafield’s customers are adopting the technology for the first time, reflecting the widespread appeal of its innovative solutions.
X-ray CT Advancements in Industry
The advancements in X-ray CT technology are not limited to Lumafield. Other companies in the sector are also exploring its applications in additive manufacturing and quality inspection. In 2021, Carl Zeiss Industrial Metrology (ZEISS) partnered with Oak Ridge National Laboratory (ORNL) to develop AI-powered X-ray CT for analyzing 3D printed parts. “Due to the complexity of AM parts, X-ray CT is increasingly becoming the preferred technology to qualify the parts. However, AI-based X-ray CT has the potential to revolutionize non-destructive testing (NDT) and metrology beyond just the AM industry,” said Dr. Pradeep Bhattad, Business Development Manager for Additive Manufacturing at ZEISS.
Similarly, in 2019, Auburn University’s Center for Additive Manufacturing acquired a $1.5 million X-ray CT system for non-destructive testing of aerospace components, supported by a grant from the National Institute of Standards and Technology (NIST). “With this new system, we can take two-dimensional x-ray pictures of a metal structure for real-time process monitoring or a series of 2D images in 360 degrees of rotation that are then reconstructed into a 3D representation of the build,” said Professor Bart Prorok, Director of Auburn’s Analytical Microscopy Center.
With its latest funding round and new leadership, Lumafield is well-positioned to continue driving innovation in X-ray CT technology, revolutionizing the way manufacturers approach quality control, and contributing to the growth of a new era of industrial innovation.
