$10m helps Aromyx expand digital sensory platform to halve R&D time, more accurately predict market response

The Mountain View, California-based biotech and data science company captured the attention of new investors from Rabo Food&Ag Innovation Fund and SOZO Ventures, as well as existing investors Ulu Ventures, Radicle Growth, Capital Energy and Merus Capital by developing a database that connects human receptors, ingredients/chemicals and word descriptors that through a proprietary platform​ can quantify consumers’ taste, scent and other sensory perceptions accurately and quickly.

“Every food and beverage company out there for the last 1,000 years has used human tasting panels as its major method of determining whether a product is good or not and trying to predict how people in the marketplace will react to it. And everyone we talked to will tell you immediately how terrible the data is that comes out of these things,”​ Aromyx CEO Josh Silverman told FoodNavigator-USA.

He explained that Aromyx can vastly improve the reliability of sensory data and provide detailed, actionable consumer insights that help companies understand how consumers will perceive and respond to their product.

During the first year of the pandemic, Aromyx tested more than 100 products for customers and is on track to test more than 300 products this year – establishing a demand curve for its unique, time- and money-saving services that soon will outstrip its capacity.

“We basically had a line of customers out the door. People wanted to engage with your services, test their products and get more data, but we were just at our limit. So, a major use of proceeds from this fundraise will go to increasing our automation, bringing in more automated robots, so that we can process more samples, generate more data and really just address the demand that we’re seeing in the marketplace for our services,”​ Silverman said.



Source link

We will be happy to hear your thoughts

Leave a reply

MINAVIT
Logo
Reset Password
Compare items
  • Total (0)
Compare
0
Shopping cart