Perplexity Raises $50 Million Seed Fund to Invest in AI Startups
AI-powered search engine developer Perplexity launches $50 million seed fund to invest in AI startups, with general partners from F7 Ventures at the helm.
Taylor Brooks
Spore.Bio, a Paris-based deeptech startup, has raised $23 million in Series A funding to revolutionize microbiology testing in the food and beverage industry, as well as expand its reach into cosmetics and pharmaceuticals. The round was led by Singular, with participation from Point 72 Ventures, 1st Kind Ventures, Station F, Lord David Prior, and existing investors LocalGlobe, No Label Ventures, and Famille C.
The funding comes just over a year after Spore.Bio's €8 million pre-seed round, and is a testament to the strong customer demand for its innovative microbiology testing technology. The startup has already signed commercial contracts covering up to 200 factories and has had to open a waitlist to keep up with demand.
The food and beverage industry is particularly vulnerable to contamination incidents, which can have catastrophic effects on a company's reputation and bottom line. Traditional microbiological tests require several days, involving sending samples to specialized labs for testing. Spore.Bio's technology, however, uses light at specific wavelengths to detect bacteria and pathogens in a matter of minutes, allowing for on-site testing and significantly reducing the overall process time.
The startup's co-founder and CEO, Amine Raji, highlighted the inefficiency of traditional testing methods, stating, "Picture this, we're in 2022, everything is hyper-optimized... and bam, you've got a 5-day imponderable test in the agri-food sector, and 14-day test in the pharmaceutical and cosmetics sectors, to get a result because you have to wait for the bacteria to grow."
Spore.Bio's technology is based on a pre-trained deep learning algorithm that detects the spectral signature of bacteria and pathogens. The company has partnered with the Pasteur Institute to access its biobank of bacteria samples, further enhancing the accuracy of its testing technology.
Beyond the food and beverage industry, Spore.Bio's technology has also garnered interest from cosmetics manufacturers seeking to eliminate preservatives from their products, and pharmaceutical companies developing innovative therapies with short shelf lives. Raji noted that these industries face similar challenges in terms of testing and quality control, and that Spore.Bio's technology can provide a solution.
With the new funding, Spore.Bio plans to significantly grow its team, increasing from 30 to 50 employees by the end of 2025. The company will also focus on manufacturing testing machines that customers can use directly in their own factories, further expanding its reach and impact across multiple industries.
As the food, cosmetics, and pharmaceutical industries continue to evolve and prioritize quality control and safety, Spore.Bio's innovative microbiology testing technology is poised to play a critical role in preventing contamination incidents and ensuring the integrity of products. With its latest funding round, the startup is well-positioned to accelerate its mission and make a lasting impact on these industries.
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