Swiss start-up Microcaps has announced that it has raised 9.3 million Swiss francs (nearly 10 million euros) to develop its perfume bead technology.
Founded in 2019, the young company develops advanced microencapsulation solutions. Its alginate-based fragrance beads are aimed at a wide range of industries, including cosmetics, pharmaceuticals and food.
This major capital increase marks a pivotal moment for the company as it aims to meet growing demand for its ethanol-free fine fragrances.
This Series A financing round saw the participation of new private investors, as well as contributions from Microcaps' existing shareholders, including Helvetica Capital AG, Zürcher Kantonalbank and the ETH Foundation.
By increasing its production capacity, Microcaps aims to ensure on-time delivery of its perfume beads to meet the growing demand from the perfumery market. This expansion will also support ongoing research and development efforts beyond cosmetics and fine fragrance applications.
"We are delighted to have secured this funding, which will enable us to significantly increase our production capacity. The growing demand for our perfume beads highlights the market's recognition of our patented technology and its potential to influence the fine fragrance industry. This investment testifies to the strong support of our shareholders and their belief in our mission of innovation and leadership in the microencapsulation sector".emphasizes Michael Hagander, co-CEO of Microcaps.
Photo taken from the Microcaps website.
