Agfa and ninepointfive each committed £650,000 to Penny Black as part of the latest round of funding.
Having been incubated in Agfa’s innovation lab, Penny Black launched independently in the UK and Europe in April 2022 and has already secured a number of customers, including luxury jewellery and watch retailer Paul Valentine, tea mixology company Bird & Blend, and online contemporary nursery décor store Modern Nursery.
Douglas Franklin, chief executive of Penny Black, says the latest funding will help the company build on its early success and expand it client network in 2023.
“The meteoric rise of ecommerce means that packaging is quickly becoming the only physical contact brands have with their customer,” Franklin says.
“This makes it a hugely influential content channel in its own right, which until now has been staggeringly under-utilised due to the complexity of personalising the fulfilment process.
“Attracting this latest funding will support us to deepen the platforms we integrate with, strengthen our relationships with our fulfilment partners, and allow brands to use the unboxing moment to secure repeat and recurring revenue.”
Jorge Tomas, vice president of strategy and corporate development from Agfa, adds: “Penny Black’s holistic solution brings the best of digital to tactile personalisation, creating opportunities to build ever-important brand loyalty.
“We are always striving to support and nurture innovation that will transform industries. With its integrated approach, leveraging data, technology and partnerships, Penny Black is on course to do just that.”