Aryballe raises seven million euros in a new global funding round from investors across three continents, to further speed up product innovation and global usage of machine learning-powered digital olfaction technology.
Digital Olfaction: Next Wave in Smart Sensors
The new funding is received 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 euros.
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.
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We are dedicated to helping our customers and partners solve meaningful industry problems through the use of smell. Our mission has always been to empower brands through the use of reliable, quality data, and today, we are seeing more companies using digital olfaction to design improvements in the customer experience and generate additional revenue,” said Sam Guilaumé, Aryballe CEO
Aryballe to Enhance Smart Sensor Networks
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.
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Now, with the support of our industry partners, we are well prepared to continue executing on that mission and take on this next stage of growth,” said Guilaumé.
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.
Source: Aryballe