GRENOBLE, France--(BUSINESS WIRE)--In June, Aryballe Technologies announced part of a first funding round of $2.9M. The start-up, introducing the first universal olfactory sensor, has now completed the first round with an investment from the Japanese chemical company Asahi Kasei ($17.2 billion turnover and some 32,821 employees as of March 31, 2016). Intrigued by the unique technology developed by Aryballe, Asahi Kasei’s investment finalizes the first round of $3.5M in overall funds.
The first round and the arrival of this new strategic investor will allow the company to finance its growth, improve the capabilities of the product, industrialize the second version of NeOse™ and secure its internationalization. This additional financing will also accelerate the commercialization of NeOse™ Pro, the professional version of the product addressing olfactive pollution and environmental markets, and quality control of processes in flavor and fragrance, food manufacturing and cosmetic. It is also supplying a unique sensor to monitor smart devices in home appliances as well as measuring indoor and outdoor air quality for environmental purpose.
"Chemistry, electronics, medical and scientific equipment, smart home: there are many synergies between Asahi Kasei Group activities and the technology we have developed with numerous applications at stake. It is a natural strategic partnership and we're really excited to start this new venture that is an important step in the history of our young company" said Tristan Rousselle, CEO and co-founder of Aryballe Technologies.
“As far as we know Aryballe’s technology and approach is unique and we are very excited to be part of this new venture. We are looking forward to seeing what new applications and markets will emerge as more customers start to evaluate the NeOse prototype” said Dr. Takashi Morishita, General Manager, Corporate Venture Capital at Asahi Kasei.
"We are delighted to welcome Asahi Kasei at the capital of Aryballe Technologies to complete the first round. It's an investment that makes sense in technology, industrial and commercial. The synergies are obvious and Aryballe technology will be able to leverage the experience and power of Asahi Kasei to develop new solutions", continues Vincent Deltrieu, Partner at Innovacom.
About Aryballe Technologies - Based on the combination of Nano,
Biotech, IT and Cognitive Sciences, Aryballe develops since 2014
innovative technologies, databases, software and devices applied to the
identification, measurement and representation of smells and tastes.
Aryballe NeOse is the first universal odor sensor that mimics the human olfactory receptors. This mobile device attracts odors, signs the odors and stores them in Aryballe odors’ database, constantly growing and enabling odor comparison.
About Asahi Kasei – Asahi Kasei is a global leader in production of chemicals, fibers, construction materials, pharmaceuticals, and electronic devices.