Laserax Completes a Second Investment Round to Support its Growth

Laserax was founded in 2010 and in less than 5 years, the Québec City company grew to 40 employees.

Bringing Laser Marking Technology from the Lab to the Production Floor

The major aluminum smelters based in the province of Quebec (Rio Tinto, Alcoa and Aluminerie Alouette) originally contacted Laserax’s founders, Alex Fraser and Xavier Godmaire, to develop a laser engraving system in order to ensure complete traceability of their products: aluminum ingots and sows.

From the very onset, Laserax partnered with the Centre d’optique, photonique et laser at Université Laval, managed by M. Réal Vallée, and counted on the laser expertise of the company’s two founders—both graduates from the Master’s Degree and Doctorate in Laser Technologies at Université Laval.

You can learn more by reading the article by Mr. Gilbert Leduc (French only) in the Québec City newspaper, Le Soleil, from March 9, 2016: Xavier Godmaire and Alex Fraser (Laserax).

Specializing in a Highly Technical Field

Laser marking improves the traceability
of metals: Ingots, billets, extrusions, and diecasts.

Xavier Godmaire, Laserax’s President, told Le Soleil: “We want to be the very best in a highly technical field. Today, our solutions are used by the biggest aluminum smelters in the world. We also work with steel, zinc, lead and magnesium manufacturers.”

“Our strategic plan paid off. We started as a company that offered several industrial solutions—and transformed into a business that specializes in metal traceability. At that time, it was considered a risky move,” said Mr. Godmaire during his interview with Le Soleil.

Laserax’s tremendous potential got quickly on the radars of several venture capitalists. Investissement Québec, Desjardins Capital and the Fonds Innovexport recently invested $10.8 million into the company, which generates over 70% of its sales abroad. A part of the financing will be used to fine-tune new technologies, such as laser cleaning systems.

New Product Development: Laser Cleaning Systems

Video - Laser cleaning

Thanks to the increased power and performance of fiber lasers, new, viable applications, developed by Laserax, are about to hit the market.

Laserax’s laser experts have been working for several years on developing laser cleaning systems to remove rust, oxide, paint, and a wide variety of other contaminants found on metals.

Market Penetration : Germany, France and Mexico  

Although Laserax’s revenues primarily come from sales in other countries, Mr. Godmaire is aware that there is still a lot of work to be done for the company to commercialize its solutions on an international scale. “Laserax is a Québec company with a great product; however, it has to come out of its shell to become a leader on a global scale,” he explained during an  interview with Le Soleil.

Currently, Laserax is opening sales offices in Europe and Mexico to support its international expansion and offer local customers the timely services they expect.

The Key to Growth: Acquiring Qualified Personnel

To achieve its growth objectives and vision of becoming a Québec success story, Laserax needs to increase its team to 70 employees by the end of 2019.

Laserax is currently hiring mechanical designers, automation technicians and electrical engineers. To learn more about career opportunities at Laserax, visit the company’s career section.

Contact a Laser Expert

Sources:

Gagnon, J. G. (October 21, 2018). Laserax - traçabilité des métaux: Se spécialiser pour mieux croître. Retrieved on October 23, 2018 from: https://www.lesoleil.com/affaires/laserax--tracabilite-des-metaux-se-specialiser-pour-mieux-croitre-c608a428b85ed09c901acdfa8b5211de

Leduc, G. (March 10, 2016). Xavier Godmaire and Alex Fraser (Laserax). Retrieved on October 23, 2018 from: https://www.lesoleil.com/affaires/xavier-godmaire-et-alex-fraser-laserax-ffeca4a63d69f1e7a68881783bfe1d7b