Aroma Bit Receives Additional Capital Investment Funding
Japanese Aroma Bit, a company that develops and markets compact odor imaging sensors and various related services, has allocated additional shares to third-parties. The purpose of the funding is to acquire growth funds needed for future functionality enhancements of its compact odor sensors and development of mass production capabilities.
EB-GB Limited Partnership funded by Epson X Investment Corporation, Kyocera Corporation and TechAccel investment limited partnership 1 are the investment partners participating in this new capital investment. Aroma Bit has developed a compact odor imaging sensor that digitises odors with visualisation patterns from various odor inputs, similar to an animal’s sense of smell. It differs from conventional gas sensors, which can only detect specific substances. Despite COVID-19, Aroma Bit has seen an increase in business negotiations with customers both in Japan and internationally accelerated by emerging trends such as smart technology, contactless technology, and digital transformation (DX). The company says that the device has a wide range of applications, including the food, agriculture, daily commodities, industrial machinery, mobility, healthcare, robotics, mobile information service, home electronics, and IoT industries. With market applications exceeding initial expectations, there is considerable potential demand for odor digitisation using Aroma Bit’s technology. After this third-party allocation of new shares, Aroma Bit plans to collaborate with major electronic device companies with advanced manufacturing expertise to accelerate development and mass production of compact odor sensor technologies. Additionally, Aroma Bit plans to strengthen development of new products and services that leverage the company’s proprietary odor databases, and expand its sales and marketing worldwide.