QualySense closes second financing round for CHF 1.2 Million
21 February 2012
QualySense, an EMPA-based start-up company focused on innovative grain and seeds sorting technology, announces that it has successfully closed its second financing round and raised CHF 1.2 million of new equity. The funds have been provided by a selected number of Swiss and international business angels and by converting into equity an outstanding convertible loan from the Zürcher Kantonalbank. Overall the company was able to raise CHF 1.0 million in cash.
This financing will enable QualySense in meeting faster its marketing and sales objectives. With these funds the company financial viability is secured well into 2013.
QualySense’s Chief Executive Officer, Dr. Francesco Dell’Endice, says: «This successful financing round proves the interest for QualySense business plan and enables us to rapidly achieving several product development milestones. The company is rapidly growing, acquiring new partners and developing exciting and innovative sorting applications for commodities. The additional capital will allow the company to acquire additional critical sales and marketing competences. »
Patrick Hug (Start-Up Finance) form ZKB says: «We have been very pleased to be invited to this important financing round. We are very satisfied by the company performance to date and excited by its business prospects. »
Zürcher Kantonalbank is the leading universal bank in the Zurich region, focusing on the national market. The Bank invests through its bank-owned Venture-Fund PIONIER every year risk capital in about 20 startup companies in the Zurich economic area. By doing so ZKB assists the transfer of ideas into economy.
QualySense is an EMPA-based start-up company co-founded in 2010 by Dr. Francesco Dell’Endice, along with Olga Mykhailova, Paolo D’Alcini, Alberto Romaneschi, and Stefan Blarer. QualySense aims to become the innovation leader in developing and marketing high-capacity sorting devices for quality and safety control of agricultural products. The unique and proprietary devices enable sorting grains, seeds and beans reliably by biochemical properties. QualySense is a Venture Kick winner of 2010, a finalist of the Swiss Technology Award 2010 in the seed category, one of the 20 best Swiss Start-ups of 2010 and carries the prestigious CTI Start-up Label.
More news from: QualySense AG
Published: February 21, 2012
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