While the unprecedented events of 2020 were anything but expected, Aryballe has made consistent progress and seen tremendous growth throughout the year thanks to the steadfast dedication and ingenuity of our team. Over the past year, we have worked to further educate the market on the value of digital olfaction, its capabilities and potential through the expansion of our global footprint, and development of the hardware-enabled software that makes our technology more effective than legacy e-nose solutions.
As we reflect on 2020 and look toward 2021, I’d like to take this opportunity to highlight the momentum we’ve seen in recent months.
Series B Funding
In July, we announced our Series B round of funding, headlined by several new investors, including Samsung Venture Investment Corp and Seb Alliance, as well as existing investors INNOVACOM, CEMAG INVEST, Asahi Kasei, and HCVC. The announcement came one year after our Series A announcement, and brings Aryballe’s total amount raised to €17 million ($19.16 million). Armed with new capital, we were able to continue the growth of the Aryballe team to 46 employees — bringing on several new engineering and product personnel. This funding announcement sparked a surge in media attention, including coverage in VentureBeat, SiliconANGLE and The Spoon. I also had the opportunity later in the year to speak with ZDNet for a comprehensive story on how we’re using digital olfaction to make a better and more repeatable cup of coffee. You can read a full recap of the interview on our blog, here.
The Series B funding round also served to support the industrialization of our products as we take a more software-based approach to digital olfaction. In 2020, Aryballe nearly doubled its number of patents, jumping from a total of 17 in 2019, to 30 this year.
Opening our Third Global Office
As we look to bring objective odor data and analysis to organizations and consumers across the globe, we opened our first Asia-based office in Korea, with Founder and Deputy CEO, Tristan Rousselle, leading the charge on the ground. With an office in Korea, we look forward to working more closely with our partners in the APAC region to facilitate positive consumer experiences. With this newest addition, Aryballe now has a presence on three continents — Europe, North America and Asia.
Top Start-Ups to Watch
Recognition of our products and services reached new heights in 2020, as Aryballe was named one of Chemical & Engineering News’s 2020 10 Start-Ups to Watch for our work to standardize odor measurement for enterprises and their consumers. A great honor, the recognition serves to validate our work, and while it’s a significant achievement, it certainly would not be possible without the dedication and work of the entire Aryballe team. Read my previous blog post on what the recognition means here.
2020 was a pivotal moment for Aryballe as a company, but 2021 is going to be even more momentous as we continue to make strategic enhancements to our technology, expanding its capabilities, and advancing the digital olfaction industry. We have big plans for 2021 as we continue our transition from a research and development company into a product company. It’s a very exciting time and we’re only just scratching the surface of digital olfaction. I look forward to sharing these advancements in the weeks and months to come. In the meantime, I would like to thank you for your continued support and interest in Aryballe, and wish you a happy holiday season and New Year.