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Aroma Bit Receives Additional Capital Investment Funding From Epson X Investment, Kyocera, and TechAccel Ventures

Entering mass production phase for compact odor digitization sensor

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Aroma Bit, Inc., (Representative Director & CEO: Shunichiro Kuroki, headquarters: Chuo-ku, Tokyo), develops and markets compact odor imaging sensors and various related innovative services, has allocated additional shares to third-parties. The purpose of the funding is to acquire growth funds needed for future functionality enhancements of the company's compact odor sensors and development of mass production capabilities, business development, and etc. EB-GB Limited Partnership funded by Epson X Investment Corporation (Representative Director: Yasunori Ogawa, headquarters: Chiyoda-ku, Tokyo), Kyocera Corporation (President: Hideo Tanimoto, headquarters: Kyoto City, Kyoto), and TechAccel investment limited partnership 1 (fund operated by TechAccel Ventures, LLC (Functional Manager: Masatoshi Ohba, headquarters: Minato-ku, Tokyo)) are the investment partners participating in this new capital investment.

Purpose and background of the increased capital investment: Support for acceleration of the compact odor sensors' mass production and expansion of the digital odor sensing market

Aroma Bit has developed the world's first compact odor imaging sensor that digitizes odors with visualization 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).

Furthermore, 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 digitization using Aroma Bit's innovative 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. In the future, Aroma Bit will continue to pursue its vision of "Enrich Society by Creating a World where Odors and Aromas are Visualized through Digital Odor Sensing Technology."

Release of development kit for silicon CMOS compact odor sensors

Aroma Bit launched its silicon CMOS sensor module development kit [5C-SSM-H1] in January of 2021. Those sensors feature 80 elements arranged on a 6 mm x 3 mm silicon chip (5 types of odor-sensitive membrane x 16 elements per membrane). Aroma Bit Silicon Sensor Technology, Inc., a subsidiary of Aroma Bit manages sales for these devices.

With the release of the silicon CMOS odor sensor, Aroma Bit anticipates increased demand in high-volume consumer applications such as mobile devices, mobility, and home electronics, where its other QCM odor sensor use was previously difficult due to factors such as price and usage environment.

Silicon CMOS sensor module development kit (5C-SSM)

About Aroma Bit

Aroma Bit is a company that plans, develops, and sells electronic devices such as compact odor sensors as well as innovative new services that use these devices.

[Company Profile]
Company name: Aroma Bit, Inc.
Location: Sagami Bldg. 2F, 7-13-6 Ginza, Chuo-ku, Tokyo
Representative: Representative Director & CEO Shunichiro Kuroki
Established: February 2014
Business: Development, production, and sales of electronic equipment and systems including compact odor imaging sensors
Planning, development, and sales of products and innovative services that use the sensor products
Other business related to the above

About Epson X Investment

Epson X Investment Corporation is a Corporate Venture Capital (CVC) firm wholly owned by information equipment and precision instrument manufacturer Seiko Epson Corporation. It established the "EP-GB Investment Limited Partnership" with independent venture capital firm Global Brain Corporation, which has strengths in CVC operations, as general partner and is conducting investment activities.

About TechAccel Ventures

TechAccel Ventures, LLC is a venture capital firm established and operated by Omron, Ricoh, and SMBC Venture Capital. It invests mainly in tech venture companies.

This news release is intended for media purposes, and is current of the date of publication. Information is subject to change without notice.