2018-06-04

Gelato raises $20M to accelerate B2B growth and geographical expansion

(Oslo, June 4, 2018) Gelato is the world’s most cost-efficient and environmentally friendly print solution for global companies that want to print locally around the world. Gelato announced today that it has secured $20M of equity led by new investor SEB Pension Fund. Existing shareholder Dawn Capital also participated in the fundraising round, along with all the other current investors

Gelato Globe is a software platform that gives access to local printers around the world wherever needed, whenever needed. Gelato can today deliver printed materials to more 5 billion people in 72 countries. The company’s vision is to enable customers to reduce print volumes by 50% and transportation distances by 90%, resulting in significant cost savings and massive reductions in carbon emissions.

Gelato will accelerate growth in B2B and global expansion
“We all like to believe that in today’s digital world we don’t need to print in large volumes, but the truth is very different. Digital printing has grown from $80B in 2008 to $180B in 2018. It’s standard practice for global organizations to print tens of thousands of brochures and ship them around the world from a central depot. Gelato aims to disrupt this model by providing customers with a portal through which they can manage these print jobs centrally, but print and distribute locally. We don’t do any printing ourselves – we’re a facilitator – but at the same time we’re already saving our customers millions in efficiencies and making a major contribution to their own need to reduce overall carbon footprint”, says Henrik Müller-Hansen, CEO & Founder of Gelato.

“Three years ago, we identified a growth opportunity many times larger than the consumer market. We have since invested $30M in building the most environmentally friendly print solution for global companies. Last three years we have moved from local production in 13 to 25 countries including the BRICs”, says Müller-Hansen.

Gelato´s investments are paying off. In 2017, 60 new companies joined Gelato Globe, including Lufthansa Cargo, Jotun, and Lindab. The additional equity will be used to fund the growth of the B2B organization and to activate additional print partners in South America, Asia and the Middle East.

Making the $800B print industry more cost efficient and less polluting
Customers are seeing strong value from moving to Gelato Globe. “Nine months after activating Gelato in Hexagon Europe we saw total cost of printing reduced by a third. Gelato will now be rolled out across our entire operation worldwide. Printing locally gives us faster delivery and we end up ordering less but more personalized print. Our ambition is to reduce print volumes by 50% and transportation distances by 90%,” says Stephen Graham, Vice President Marketing for the Manufacturing Intelligence division of Hexagon.

"Exakta Print has been a print partner to Gelato for 3 years. We started printing cards and calendars and experienced first hand how effectively they bundle thousands of small orders into large print runs. We see Gelato moving into the B2B market as a big opportunity. We have already received orders from companies such as BMW and Hexagon. The value that Gelato brings to the global print industry is that orders that were once centrally ordered can now be printed locally in the market where the material should be used," says Håkan Larsson, CEO Exakta Print in Sweden.

Müller-Hansen concludes, “When companies are printing their Sustainability Report in one country only to fly it out to 80 other countries something has to change. By not owning any print machines and cooperating instead with local partners, we bring printing much closer to demand. We lower costs and carbon emissions while strengthening brand control.”

For additional information, please contact:

Gelato: Christian Sæterhaug, CMO, +47 4131 9124, christian.s@gelato.com

About Gelato
Gelato is the world’s most cost-efficient and environmentally friendly printer for global companies that want to print locally around the world. Gelato can today deliver printed materials to more than 5 billion people in 72 countries. Digital printing has grown from $80B in 2008 to $180B in 2018 (Source: Smithers Pira).

Inside Gelato