Investissement Québec and Desjardins Capital recently invested $10.8 million in Laserax Inc. Thanks to the investment, the Quebec-based company, which was founded in 2010, will continue to expand in the industrial laser market and develop solutions that meet the needs of the most demanding applications.
Laser Marking Systems Designed to Exceed the Requirements of Heavy Industries
Laserax originally developed laser solutions for the primary metal industry, particularly in the aluminum sector. The company designs, produces and installs its systems in smelters around the globe.
Thanks to the numerous advantages Laserax’s solutions offer, the company has carved an enviable reputation for itself. “Our laser systems are more reliable as well as affordable due to low operational costs,” said Alex Fraser, the company’s Chief Technology Officer in an interview with Les Affaires.
Laserax’s systems are used to mark metal parts with important information, such as dates, serial numbers or lot numbers.
“With so many recalls in the automotive industry, car manufacturers, just like businesses in the agri-food and pharmaceutical sectors, want to better trace the origins of their suppliers’ components in order to trace the sources of defects and understand why they occur,” explained Xavier Godmaire, Laserax’s President, to Les Affaires.
Laser Cleaning is the Next Frontier
Always on the hunt for a new opportunities, the Quebec-based company is starting to diversify and not rely on industrial marking alone. By leveraging the expertise of its 30 employees, maintaining sales in 14 countries and achieving an exponential growth in sales of 2000%, Laserax is now turning to laser cleaning systems with much gusto.
Venture capitalists quickly recognized Laserax’s tremendous potential. In fact: “Desjardins Capital believed, right from the start in 2013, in the project. Xavier and Alex, two graduates from Université Laval in Optics, Photonics and Lasers, were—and still are—on a mission to revolutionize how lasers are used in a manufacturing environment,” said Luc Ménard, Chief Operating Office at Desjardins Capital.
Alex Fraser and Xavier Godmaire Persist and Bring Laserax to New Heights
Despite some challenges they had to overcome, Laserax’s founders were relentless in their approach. “We were two lab rats who knew a lot about lasers, but little about managing a business,” laughed Mr. Godmaire. Luckily, we were able to rely on the help of professionals who had the expertise we lacked and learn from our mistakes. Whenever we faced a hurdle, we rolled up our sleeves and took it head on.”
In addition to offering its systems to clients in Quebec and Canada, Laserax plans to open offices in the United States, Mexico and Europe in order to better serve local markets.
Deniau, K. (2018, October 20). Laserax: Devenir un chef de file mondial du laser industriel. Retrieved October 31, 2018, from https://www.lesaffaires.com/dossier/les-vedettes-de-l-entrepreneuriat/laserax--devenir-un-chef-de-file-mondial-du-laser-industriel/605762