MultiX raises €3.5 million with Omnes Capital and its long-standing investors to launch production and secure its international business expansion

MultiX, a market leader in spectroscopic x-ray imaging for airport security and non-destructive testing applications, announces that it has raised €3.5 million on the occasion of a new financing round with its long-standing investors and two newcomers: Omnes Capital and H3C (private investor).

MultiX (www.multixdetection.com) was founded in October 2010 by Jacques Doremus and Patrick Radisson with the support of the French Atomic Energy Commission (CEA) and Thales. The company – whose two founders are from the Thales Group – provides its integrator clients with detection subsystems that allow for: (1) efficient baggage security checks, (2) reduced operating costs for airports and (3) passenger comfort, making it possible in particular for liquids to be carried during air travel. In the non-destructive testing sector, these subsystems allow for improved discrimination between unwanted objects in the food processing industry.

This new financing round will enable MultiX to begin production at its Moirans plant in Isère and continue with its international expansion. Following the United States, where MultiX detectors will be fitted to scanners at all airports, the company is targeting Europe. Denmark has selected MultiX as a key player in the European checkpoint of the future project. The company also operates in the food processing and recycling sectors.

Jacques Doremus, Chairman of the Management Board and founder of MultiX, comments : “The US government and a number of scanner manufacturers have selected our technology to improve identification of solid and liquid explosives in airline baggage, check food quality and improve sorting of high value-added waste. Other applications will soon be targeted by MultiX’s technology. The ability to identify materials with a significantly lower error rate compared with the x-ray detectors currently used has been welcomed by the market. We are very pleased that Omnes Capital and H3C – alongside our prestigious long-standing investors – have decided to lend us their support. This new financing round will enable MultiX to change dimension in order to meet the high level of demand from the markets we are targeting. Thanks to its technologically advanced position, MultiX offers considerable potential for growth on a worldwide level.”

Renaud Poulard, Partner at Omnes Capital, adds : “We are delighted to become part of the MultiX adventure. This is a very promising company with very strong technological expertise. Detection of explosives in luggage is clearly set to become more widespread and MultiX has managed to win the trust of the key operators in this field.”

Parties involved

Company : MultiX (Jacques Doremus, Chairman of the Management Board and Founder)

M&A advisory: Oaklins Aelios (Véronique Roth)

Investors :

• Omnes Capital (Renaud Poulard, Marc Gasser)
• ACE Management (Gilles Daguet, Stéphanie Hillard)
• Alto Invest (Benoît Thiedey)
• CEA Investissement (François Breniaux)
• EurekaP ! (Guy Rigaud)
• Helea Financière
• Kreaxi (Sébastien Touvron)
• Thales Group (Nathalie Ravilly)
• H3C

Legal advisors : 

• Company: Fieldfisher (Jean-Baptiste Van de Voorde)

Auditors :

• 2CFinance (Franck Chuffart)