Aryballe, the pioneer in digital olfaction, raised €7 million in a new global funding round from investors across Europe, North America, and Asia.
WHO: Based in Grenoble, France, Aryballe combines biochemistry, advanced optics, and machine learning to mimic the human sense of smell. Founded in 2014, Aryballe released its first product, the digital nose NeOse Pro, in early 2018. Fast, portable, and sensitive to hundreds of odors, NeOse Pro captures odor signatures for display and analysis via software solutions that enable better decision-making for R&D, quality control, manufacturing, and end user experiences. With operations in France and the USA, Aryballe works with global leaders in automotive, consumer appliances, and flavor & fragrances.
WHY: The new 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. 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 THEIR OWN WORDS: “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 raised €7 million from new investors Samsung Venture Investment Corp (Samsung Ventures), Seb Alliance along with existing investors Innovacom, Cemag Invest, Asahi Kasei, and HCVC. The round brings the company’s total funding to date to €17 million.
- In July 2019 Aryballe secured €6.2 million in funding led by strategic investors, IFF, and Hyundai Motor Company, and its historical existing investors.
- In 2016 the business raised a €3.1 million seed round.
- In 2019, the company saw 30% growth in headcount, and as a result, more than doubled its intellectual property portfolio.
Photo: via Aryballe