Aryballe (www.aryballe.com), the pioneer in digital olfaction, today announced it raised €7 million in a new global funding round from investors across Europe, North America, and Asia, including new investors Samsung Venture Investment Corp (Samsung Ventures) and Seb Alliance (Groupe SEB’s corporate venture arm) as well as existing investors INNOVACOM, CEMAG INVEST, Asahi Kasei, and HCVC. The round brings the company’s total funding to date to €17 million.
Digital olfaction is the next wave in smart sensors. Organizations across industries, from automotive and food and beverage to consumer appliances and personal care and cosmetics, rely on machine learning-powered digital olfaction to accelerate R&D projects, reduce maintenance costs and provide better customer experiences. The funding enables Aryballe to build out its manufacturing operations to meet accelerating demand for its newest high-volume, low-cost universal odor sensor as organizations across the globe look to enhance the capabilities of existing smart sensor networks.
“We’re dedicated to helping our customers and partners solve meaningful industry problems through the use of smell,” said Sam Guilaumé, Aryballe CEO. “Our mission has always been to empower brands through the use of reliable, quality data, and today, we’re seeing more companies using digital olfaction to design improvements in the customer experience and generate additional revenue. Now, with the support of our industry partners, we’re well prepared to continue executing on that mission and take on this next stage of growth.”
Aryballe combines biochemical sensors, advanced optics, and machine learning in a single objective solution to collect, display and analyze odor data so companies can make better decisions. The team will also use the new funding to double Aryballe’s current headcount across engineering and product positions, and further support the industrialization of its technology. In 2019, the company saw 30% growth in headcount, and as a result, more than doubled its intellectual property portfolio.
In addition to the record growth Aryballe experienced in 2019, the company recently won gold in the 2020 Edison Awards for its NeOse Pro™. To learn more, or to see open positions at Aryballe, visit www.aryballe.com.
Source: Aryballe Raises €7M to Meet Increasing Demand for Digital Olfaction Technology in Consumer Applications | Business Wire