Vaud-based scale-up SwissDeCode raises CHF 3.7 million to disrupt food securityWednesday 3 February 2021
SwissDeCode, a real-time food safety and compliance authentication company, has closed its first round of financing in the amount of CHF 3.7 million. These funds will be used to accelerate the development of a rapid on-site food testing and certification platform.
Consumers are demanding more information and transparency about their food. However, food products are moving from the farm to the table at an accelerated pace and laboratory testing services are not keeping up with that pace. The future lies in certified rapid on-site tests, and this is also the specialization of SwissDeCode.
The Vaud-based start-up has completed its first round of financing and raised CHF 3.7 million from VisVires New Protein (VVNP) and EIT Food (Europe's leading food innovation initiative). This new funding follows a recent grant of EUR 2.5 million from the European Innovation Council.
A disruptive solution for the industry
SwissDeCode is now preparing to launch a fully automated system that will perform the same tests as laboratories, including certification, in a fraction of the time and directly on-site. Aggregated test data can be used for predictive analysis to optimize processes and increase consumer confidence.
The automated system, an on-site device operated directly by the customer's staff without laboratory equipment, analyzes food samples and aims to provide ISO-certified results in just 30 minutes. SwissDeCode's platform, is capable of detecting adulterated foods, GMOs, allergens, coronavirus and other viruses, and is adaptable to meet the specific testing needs of companies.