Aromyx has created technology that “digitizes taste and scent” allowing companies / researchers the ability to see what their products do to their customers and thus be able to more effectively design effective products. While there are other competitors in the market, Aromyx and their patented process is reportedly the best in the market. To help fund their product growth, Aromyx is now raising capital on Propel(x) an accredited / Angel crowdfunding platform that focuses on science and technology startups.
Incubated at Stanford’s StartX accelerator and the Plug & Play Ventures Materials program, Aromyx was founded by Chris Hanson and is based in Palo Alto, California. ExistingiInvestors include Oriza Ventures, Eric Di Benedetto, the Stanford-StartX Fund, Rationalwave Capital, John (“Launny”) Steffens of Spring Mountain Capital, and TEEC Angel Fund. Smaller investors may now participate via the offer on Propel(x)
Aromyx platform, “the EssenceChip”, is a disposable biosensor that places the human taste and olfactory receptors into a biochip. EssenceChip may be used in the food and beverage, flavor and fragrance, consumer packaged goods, chemical and agricultural industries. Aromyx states that it is currently in “advanced negotiations with some of the largest consumer packaged goods companies in the world”.
Hanson said that Propel(x) helped them access high profile investors during their seed round and now they are continuing that relationship with this newest round;
“We look forward to continuing our work with Propel(x) and reaching our current fundraising goal of $3.6 million. As we continue to grow, we are moving closer to revolutionizing the food, beverage and consumer goods industry to create healthier, safer, and more affordable products.”
Swati Chaturvedi, CEO or Propel(x), called Aromyx the first of its kind and pushing boundaries many never would have imagined.
“Their technology has the potential to make an enormous impact on society – reformulating products, say with less dyes and chemicals to develop healthier and more affordable versions of products with the same taste and smell. We applaud Aromyx for their fundraising success on Propel(x)’s platform and look forward to more seeing big things for Aromyx.”
Details of the offer are available for registered users of the Propel(x) platform. Propel(x) is a platform that wants to provide unique access to early stage science & technology companies that can be difficult to access and understand. Founded in 2013 by CEO, Swati Chaturvedi and Lisheng Wang, Propel(x) introduces its members to startups that are developing new forms of clean energy, life-saving drugs, new methods of space exploration, and innovative new materials amongst others.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!