Aryballe Technologies sees fast development and raises €2.6 million
Categorie(s) : Industry, Innovation & Society, News, Research
Published : 6 June 2016
Just two years after it was founded, Aryballe Technologies has raised €2.6 million in fresh capital from five investors, including the CEA. The influx of funds will pay for industrial scale-up of the company’s product—a portable, universal odor detector—and the start-up of manufacturing operations in early 2017.
The new investors were won over by the startup’s rapid progress. Just two years in, Aryballe Technologies has already completed proof-of-concept testing, manufactured prototypes for testing by a company in the medical industry, and signed a distribution agreement for Japan. The company has also secured funding from the French Single Interministerial Fund for its R&D.
INAC, a stakeholder in the program, is also working with Aryballe Technology under R&D contracts to develop applications for the medical, environmental, food, and fragrance industries.