Aroma Bit Secures Follow-on Financing from the Sony Innovation Fund by IGV
Aroma Bit, Inc. (Representative Director & CEO: Shunichiro Kuroki, headquarters: Chuo-ku, Tokyo, hereinafter "Aroma Bit"), a company which plans and develops compact odor imaging sensors and innovative services using these sensors, has undertaken a third-party allocation of new shares with the Sony Innovation Fund by IGV (Innovation Growth Fund I, operated by Innovation Growth Ventures, Inc., founded by Sony Corporation and Daiwa Capital Holdings ) in order to acquire the growth funds needed for future miniaturization and functionality enhancements to the company's compact odor sensors, as well as development of mass production capability, business development, etc. With this round, together with the capital increase from Japan Tobacco Inc. and East Ventures announced on October 21, 2019, the company has raised a total of 450 million yen. This investment will also be a follow-on to the investment by the Sony Innovation Fund (operated by Sony Corporation) announced on March 4th, 2019.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191110005004/en/
AROMA BIT BRAND VISION MOVIE (Photo: Business Wire)
Aroma Bit, Inc.: http://www.aromabit.com
Purpose of capital increase: Accelerate the miniaturization and functionality enhancement of the company's sensor through semiconductorization, in order to expand the digital olfactory market
The compact odor imaging sensor developed by Aroma Bit is unique in that, unlike conventional gas sensors that can only detect specific substances, it is able to generate a visualization pattern from various odor inputs, similar to an animal's sense of smell.
Recently, there has been an increase in the number of inquiries and business discussions coming from both domestic and overseas customers, covering a wide range of possible applications beyond the company's initial assumptions, including food and agriculture, daily necessities, cosmetics, industrial machinery, robotics, mobility, monitoring and health care, marketing, and more. This is proof of the company's advanced technology and first-mover advantages.
With the July 23, 2019 announcement of full-scale development of the ultimate next-generation compact odor sensor, which is small, inexpensive, and has high odor resolution (a next-generation CMOS-type odor imaging sensor capable of achieving odor resolution as high as a dog's nose, on a 1 mm square), approaches from technology equipment manufacturers and IT companies around the world regarding collaboration projects, not only for odor sensor hardware, but also for the utilization of digital odor data, are increasing rapidly.
Furthermore, the sense of smell is the least digitized of the five senses, and the market for digital olfactory technology is about to enter the takeoff phase.
Through this third-party allocation of new shares, Aroma Bit plans to use their technical strength to achieve further miniaturization and increased functionality of their compact odor imaging sensor, and strengthen development for mass production. In addition, the company plans to strengthen and expand its management system to support the development and enhancement of new products and services that leverage its odor sensor hardware as well as the world's first digital odor database, and to expand its sales and marketing systems globally.
Aroma Bit will also continue to pursue the company's vision of "Enriching society by achieving a world where odors and aromas are digitized through odor imaging technology."
Today, Aroma Bit released their "Brand Vision Movie", which portrays future life where smell is visualized - something that even Hollywood has not envisioned.
Aroma Bit today released their Brand Vision Movie, which imagines the future brought about by technology that can visualize odors and convert them into data. A top-tier Japanese creative team has created the world's first video that envisions the future that Aroma Bit aims to create, where the world of odors and aromas is digitized and visualized.
Please watch the video to see a part of the future lifestyle that Aroma Bit imagines and is working to create.
It is available starting today on our company website (www.aromabit.com).
Principal Creators
Creative Director and Art Director
Tomohiko Ushiro
WHITE DESIGN
Creative Director and Copywriter
Kenji Saito
Honshitsu
Director
Shinichiro Kanagawa
WHITE Co.
Producer
Yuya Matsuzaka
Tohokushinsha
About Aroma Bit
Aroma Bit is a company that plans, develops, and sells electronic devices such as compact odor imaging sensors, as well as innovative new services that use these devices.
Company Profile
Company name: Aroma Bit, Inc.
Location: Sagami Bldg. 13 fl, 6-2-7 Ginza, Chuo-ku, Tokyo
Representative: Representative Director & CEO Shunichiro Kuroki
Established: February 2014
Business description: Aroma Bit develops, manufactures, and sells electronic devices and systems, mainly compact odor sensors. The company also plans, develops, and sells products that use these sensors, as well as innovative odor services and related businesses that include the above.
About the Sony Innovation Fund by IGV
The Sony Innovation Fund by IGV is one of the Sony Group's venture investment programs.
Sony Corporation and Daiwa Capital Holdings established Innovation Growth Ventures Corporation as part of this program.
This venture capital fund was launched in June 2019 by recruiting investors from among both Sony and Daiwa's group companies in addition to external investors.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191110005004/en/
Contact information
For inquiries regarding this announcement, please contact:
Aroma Bit, Inc.
Public Relations Department: (Contact: Yuko Motoki)
Tel: +81-3-6380-7920
Email: info@aromabit.com
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Michael Buckley to Return to True Religion Apparel as Chief Executive Officer12.11.2019 18:30:00 CET | Press release
True Religion Apparel, Inc., announced that the Board of Directors has appointed Michael Buckley as its new Chief Executive Officer, effective immediately. Mr. Buckley was previously President of True Religion Apparel from 2006 to 2010. He will be responsible for developing and implementing the future vision and roadmap for True Religion. Mr. Buckley will report to the Board of Directors of the Company. Michael Buckley is a leading retail and consumer products executive with over 30 years’ successful industry experience both domestically and internationally in growing brands and creating value. He most recently was Chief Executive Officer of Differential Brands Group (renamed Centric Brands upon the acquisition of Global Brands Group) a NASDAQ publicly traded company. Differential owned the brands Hudson Jeans, Robert Graham and Swims. Prior to Differential, from 2011-2016 he was Chief Executive Officer of Robert Graham Designs until its sale to Differential Brands Group for $180 milli
Bempedoic Acid Significantly Reduces LDL-Cholesterol on Top of Statin Therapy: Results of the CLEAR Wisdom Trial, Published in the Journal of the American Medical Association12.11.2019 16:08:00 CET | Press release
Daiichi Sankyo Europe GmbH (hereafter, ‘Daiichi Sankyo’) today announced the publication of results from the Phase 3 CLEAR Wisdom trial in the Journal of the American Medical Association (JAMA).1 Bempedoic acid is currently undergoing review for marketing authorisation by the European Medicines Agency (EMA) and by the United States Food and Drug Administration (FDA). CLEAR Wisdom, a Phase 3, double-blind, randomised trial, evaluated the efficacy, long-term safety and tolerability of bempedoic acid 180 mg versus placebo in 779 patients with atherosclerotic cardiovascular disease (ASCVD) and/or heterozygous familial hypercholesterolaemia (HeFH) inadequately controlled with current lipid-modifying therapies, added on to maximally-tolerated statin therapy, which may mean no statin at all.1 The JAMA publication includes results for the primary efficacy endpoint of low-density lipoprotein cholesterol (LDL-C) lowering at 12 weeks and key secondary endpoints of safety and tolerability over 52
Vertex Confirms Northern Ireland Offer Accepted for Cystic Fibrosis Medicines12.11.2019 15:57:00 CET | Press release
Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today confirms that the Regional Pharmaceutical Procurement Service in Northern Ireland has accepted an offer for access to all currently licensed Vertex cystic fibrosis (CF) medicines and any future indications of these medicines under the same terms as the recently announced agreement with NHS England. This means that once the contract is finalized, patients with CF in Northern Ireland ages 2 years and older who have two copies of the F508del mutation in the cystic fibrosis transmembrane conductance regulator (CFTR) gene will have access to ORKAMBI ® (lumacaftor/ivacaftor) and CF patients ages 12 years and older who either have two copies of the F508del mutation or one copy of the F508del mutation and a copy of one of the other 14 licensed mutations will have access to SYMKEVI® (tezacaftor/ivacaftor) in combination with ivacaftor. We will support the arrangements being put in place to ensure clinicians will be able to prescribe to el
Andersen Global Announces First Collaboration in Croatia12.11.2019 14:30:00 CET | Press release
Andersen Global announced today that it signed a Collaboration Agreement with one of Croatia’s largest law firms, KALLAY & PARTNERS Ltd. The addition of the Zagreb-based firm establishes Andersen Global’s presence in the country and continues the expansion of the organization in the region. Founded in 2006, KALLAY & PARTNERS Ltd. is led by Founder and Office Managing Director Marko Kallay. Under his leadership, the firm provides both foreign and domestic clients with a broad range of legal services, including banking and finance, commercial and corporate law, dispute settlement, arbitration and mediation, labor law, and regulator relationships. “Our firm values commitment, transparency, reliability and providing clients with the best-in-class legal services, and these values align well with Andersen Global’s standards and vision,” said Marko. “This collaboration will allow us to take our client service to the next level and expand our footprint more broadly. We are excited to work clos
Report: The Delivery Economy Uncovering Misalignment In the Supply Chain12.11.2019 14:00:00 CET | Press release
The rapid growth of the Delivery Economy — the pervasive sentiment in which customers expect low-cost, fast and highly transparent delivery of goods — is pressuring companies to quickly address structural supply chain challenges that make it difficult for them to meet increasing customer demands, according to a new report from project44, the global leader in advanced visibility for shippers and logistics service providers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191112005320/en/ (Graphic: Business Wire) The new report from project44, “Aligning the Supply Chain In The Age Of The Delivery Economy,” is based on a blind survey of 300 supply chain professionals. It is the second in a series of reports examining the emergence and impact of the Delivery Economy. The report highlights key issues plaguing both B2B and B2C supply chains and preventing adoption of the organization-wide delivery strategies that will be critical t
Modern Governance 8.0: New Report from Stanford’s Rock Center and Diligent Institute Reveals Corporate Directors Are Less Shareholder-Centric and Success Is No Longer Defined Solely by Shareholder Returns12.11.2019 14:00:00 CET | Press release
In a new report released today, Diligent Institute and the Rock Center for Corporate Governance at Stanford University found that board directors consider both shareholder and stakeholder needs when making strategic decisions – reinforcing a stakeholder movement that embraces modern governance. The report, “Stakeholders Take Center Stage: Director Views on Priorities and Society,” includes responses and interviews with nearly 200 directors of public and private corporations globally. According to the survey, a vast majority of corporate directors (89%) believe it is important or very important for their company to consider the interests of non-shareholder stakeholders – such as employees, local communities, and the general public – as they work to achieve business objectives. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191112005426/en/ The findings of this report echo the sentiments of the recent Business Roundtable “Stat