Delvitech, a Swiss automated optical inspection technology specialist, is planning an acquisition alongside a Series C funding round in 2027, founder and CEO Roberto Gatti said.

The company is interested in acquiring optical inspection players active in industries like pharmaceuticals, mechanics, plastics or textiles in the US and Europe, Gatti said.

Delvitech, which works with unnamed advisors on potential acquisitions, looks for strategic deals that would accelerate its entry into a new industry, he said. Prospective targets should generate sales in a range of EUR 50m to EUR 100m, he added.

The executive declined to disclose Delvitech’s current revenues, adding that it anticipates 400% revenue growth year-on-year (YoY) in 2025, and predicts 300% YoY growth in 2026. The company, which plans to expand its team of 110 employees to 220 or 230 by end-2026, expects to be EBITDA-positive from 2027, he added. Delvitech hopes to exceed turnover of EUR 300m by 2030, Gatti said.

At present, Delvitech is active within the electronics industry and has clients offering assembled printed circuit boards (PCBs) to sectors such as defence, automotive, Internet of Things (IoT) industries, as well as for mobile phones, Gatti said. These markets, which the company approaches via original equipment manufacturers (OEMs) and providers of electronics manufacturing services (EMS), will be important vertical growth areas for Delvitech over the next three or four years, he added.

The company would add its industry-agnostic technology platform to an acquired business with a view to growing it further, Gatti said.

Delvitech anticipates making a few acquisitions in different industries, but its deal-making pace will depend on the size of the first acquisition it makes, Gatti said, given that integrating a larger target might take longer than a smaller one.

The company targets making its first deal around 2Q27, although the due diligence process could start towards the end of 2026, Gatti said.

Series C plans

Delvitech plans to fund an acquisition with a new financing round, namely a Series C, which it expects to start organising towards 3Q26, with closing within six to eight months, Gatti said. It has yet to decide whether it will engage an advisor for the fundraising, he added.

The company expects to raise between EUR 70m to EUR 150m, at a pre-money valuation of between EUR 200m to EUR 400m, Gatti said.

The size of the Series C round will depend on the planned acquisition, Gatti said, adding that Delvitech will use part of the proceeds to support the business following the acquisition and build a new division within it.

Meanwhile, Delvitech’s valuation will depend on its turnover at the end of 2026, its contracts and technology at that point, an outlook for the business and what its technology can bring within the next three to five years, as well as its acquisition plans, Gatti said.

The company expects most of its current investors to participate in the upcoming round, and it will also seek to attract institutional venture capital funds or private equity investors for its Series C, Gatti said.

Delvitech to date has raised between CHF 67m to CHF 70m (EUR 71.5m-EUR 74m) since its foundation in 2018, Gatti said. Last month, the company announced a USD 40m (EUR 34m) Series B round led by EGS Beteiligungen together with Creadd Ventures, as reported. The oversubscribed round was joined by several European private investors, with Finadvice Mediterranean acting as Delvitech’s financial advisor and I&P Law Office as its lawyer, according to a company press release.

Series B investors hold a stake of around 30% in the company, while the remainder is in the hands of various shareholders, including private and families from countries like Switzerland, the UK, Italy, Spain and Poland, the CEO said, adding that he is no longer a majority shareholder.

Views on listing

Delvitech expects to be ready for listing in four years, with a view to providing its shareholders with an exit opportunity, Gatti said.

Ahead of going public, Delvitech is also likely to raise a pre-IPO round in 2028 and should select a bank to assist it, the executive said, adding that at this point, the company expects to have visibility on the potential listing date. Delvitech is yet to select a listing venue and will discuss its options with advisors, he added.

Delvitech’s near-term plans include growing its sales network globally via direct sales, as well as distributors and agents, Gatti said. The company will also seek to introduce Software-as-a-Service and Hardware-as-a-Service offerings, with a view to generating recurring revenues, he said. At the moment, it generates sales from its equipment and spare-part sales, and from maintenance services, he said.

South Korean Koh Young, Taiwanese Test Research Inc. (TRI), German Viscom, and Japanese OMRON are among the players in Delvitech’s competitive space, Gatti said.

Delvitech differs from its product-based competitors because its business is technology-based, which means that the same technology that is currently applied in the electronics industry can be deployed in other markets, Gatti said.

The company’s technology platform combines artificial intelligence-native software with high-end hardware, which is capable of inspecting like a human eye and is applicable in various industries in which optical inspection is required, Gatti said. Delvitech plans to open a manufacturing plant in India in 1Q26, he added.