HomeSwedenArgusEye Closes €2.8M Funding

ArgusEye Closes €2.8M Funding

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ArgusEye

ArgusEye, a Stockholm, Sweden-based provider of innovative sensor solutions for real-time monitoring of biological systems, raised €2.8M in funding.

The round was led by Voima Ventures and existing investor Eir Ventures.

The company intends to use the funds for continued development of Auga sensor system platform to accelerate the bioprocessing workflow.

Led by Erik Martinsson and Daniel Aili, ArgusEye develops novel sensors to enable realtime monitoring and analysis of biological systems and processes. Introduced in March 2024, the AugaOne™ is the first product in the company’s sensor system platform, Auga, and is specifically adapted for downstream processing to increase process efficiency and intensify process development to accelerate detection and quantification of mAbs.

Commenting on the news, Erik Martinsson, CEO at ArgusEye, said: “As ArgusEye embarks on its scale-up phase, our focus is twofold: expanding our market footprint geographically and diversifying our product offerings to encompass the entire pharmaceutical process chain, from upstream cell growth to downstream purification and late-stage formulation as well as GMP production. This strategic approach aligns with our commitment to deliver cutting-edge solutions that address the evolving needs of the biopharmaceutical industry and our vision to enable a more sustainable and democratic reach of biomedicines, transforming biopharma manufacturing through real-time inline quality control.”

FinSMEs

13/05/2024