The Israeli company has developed a platform in collaboration with leading Weizmann Institute researchers that enables molecular-level accurate control in the design of scent
Moodify, an Israeli startup that develops technology for the digitization of scent, announced on Monday that it has recently completed raising $8 million in equity financing. CPG giant Procter & Gamble is a key investor in the round. Other investors include Toyota Ventures, OurCrowd, Next Gear Venture Partners, and Taisho Pharmaceuticals.
Moodify raises $1.6M Funding for Advanced Functional Scents Company to present at IAA Frankfurt its joint solution with partner Valeo
TEL AVIV, ISRAEL (PRWEB)SEPTEMBER 10, 2019
Moodify, an Israeli company that is developing advanced scent solutions for improved performance and well-being, today announced $1.6M funding from lead investor Next Gear Ventures, with participation from Toyota AI Ventures. The funding brings the total investment in Moodify to $2.3M.
“This investment will enable us to execute on our plan to establish the company as a leader in the market, while continuing to develop Moodify scents,” said Yigal Sharon, co-founder and CEO of Moodify. “The vote of confidence by Toyota AI Ventures, a leading investor in the mobility space, and Next Gear Ventures, one of the champions of automotive innovation, further indicates that there is a real need for Moodify’s groundbreaking technology. Many industries have started to realize the power and significance of smell, and we are very excited to be a pioneer in this novel field.”
Moodify’s scent technology harnesses the power of implicit and explicit smells by emitting safe, non-intrusive signals that have an immediate impact on emotional and physiological condition, for example, by masking bad odors, reducing stress, or waking up someone who is drowsy.
Moodify’s active scents are based on over 10 years of research on chemo-signals at the top science institute in Israel.
“We are very proud to deepen our partnership with Moodify after working closely together with the founders for the past 6 months through Drive Innovation Hub,” said Tal Cohen, General Partner of Next Gear Ventures and Drive TLV. “The company’s solutions for safety and well-being generate great interest not only from leading players in the mobility ecosystem but also from several other major industries offering numerous use cases. Although very powerful, using advanced scent technologies to solve-real world problems has very rarely been successfully achieved at scale, but we believe Moodify has great potential do so.”
“Our mission at Toyota AI Ventures is to explore new innovations, and so we’re excited by the potential of Moodify’s functional fragrance technology, for automotive applications and other use-cases,” said Jim Adler, founding managing director of Toyota AI Ventures. “Moodify’s scent solutions are based on years of scientific research that tap into the powerful impact that smell has on our sense of well-being – whether to calm us, alert us, or enhance the perception of our environment. It’s fascinating to experience the Moodify scents firsthand, and we look forward to their products becoming widely available.”
Moodify’s first product, Moodify White, will be exhibited at the IAA show in Frankfurt this September in the VALEO booth. VALEO, a leader in automotive interior air quality, wants to complete its product portfolio with a solution that removes the negative impact of interior bad odors, and had teamed up with Moodify to develop an innovative product.
Co-founded in 2017 by Yigal Sharon and Dr. Yaniv Mama, Moodify develops unique active scents that enable people to improve their performance, enhance their well being and increase their safety. Based on more than a decade of research at the Weizmann Institute of Science in Israel, Moodify’s scents affect the olfactory sense in a non-invasive and safe manner. Headquartered in Tel Aviv, Israel, Moodify was selected for Capsula, a TAU & the Israeli Government accelerator, and is a part of the Renault-Nissan Innovation Lab (TLV CityZone) and DriveTLV innovation Center for Smart Mobility.
About Next Gear Ventures
Next Gear Ventures is a leading smart mobility focused Israeli VC fund investing in startups at the forefront of smart mobility revolution. Next Gear is leveraging its strategic relationship with Drive TLV with its global mobility partners network to identify, mold and work with Israel’s top startups. Next Gear ventures and Drive have became the go to address for top early stage Israeli startups.
About Toyoya AI Ventures
Toyota AI Ventures is a Silicon Valley-based venture capital firm that invests in early-stage startups from around the world. Toyota’s first standalone VC fund, Toyota AI Ventures focuses on investments in areas like artificial intelligence, data, cloud, mobility, and robotics. For more information, please visit https://www.toyota-ai.ventures.
Moodify has launched Moodify (Re)formulation, an AI software package for the formulation and reformulation of perfumery and fragrance.
The Israeli tech outfit says it enables a quick, highly effective, and component-flexible process, allowing perfumers to substitute components while maintaining the same odor profile as in the original formula.
In industries that use fragrance, such as personal & home care, consumers have high expectations for the scent experience of a product.
Changes to the availability and price of ingredients, as well as new regulatory requirements, can create challenges for fragrance houses.
Moodify (Re)formulation allows fast and easy scent reformulation, providing a fast and cost-effective way to keep up with changing regulations and ingredient availability, it says.
Moodify’s scent AI technology facilitates automatic replacement, enabling formulators to choose the best available molecule/accord. It also offers several contenders based on their level of similarity to the original molecule while optimizing for different constraints.
This technology allows Moodify to recommend a list of substituents rated by proximity, providing the perfumery and fragrance industry with a game-changing solution to the time-consuming and costly process of reformulation.
Moodify’s algorithms take into account regulatory requirements, inventory, and pricing considerations before suggesting the best substitutions. The calculation is achieved using several AI methods to ensure optimal performance in any given circumstance.
Formulators need to simply submit their formula to the app, select the component they need to replace, and Moodify’s scent AI technology will do the rest
Moodify scent AI technologies are based on more than 15 years of academic research and extensive development.
“We are thrilled to launch Moodify’s (Re)formulation, which we believe will revolutionize the way perfumers and fragrance professionals approach scent reformulation,” said Moodify CEO Eyal Maor. “Our technology offers a cost-effective and efficient solution that ensures regulatory compliance and meets the high expectations of consumers for the product scent experience,” he added.
Software is eating the world and now it has recently begun smelling it as well. The fragrance industry is starting to go through deep digital transformation processes that address its core competencies, and naturally so, is thus very affected by artificial intelligence (AI). In contrast to information-based industries such as finance and insurance, fragrance took longer to undergo digital transformation because entry barriers for startups and innovation, in general, are higher. CapEx (capital expenditures) involving chemical compounds and labs, together with higher OpEx (operational expenditure) for interdisciplinary talent, make it less susceptible to disruption.
Fragrance is more difficult to digitize because there is less academic applied olfaction research work offering technologies ripe for commercialization; and because olfactory nomenclature is limited and less articulated than other senses. The latter not only creates difficulties in generating data sets for AI but also makes it challenging to have AI talent reach the profound subject matter understanding that is so necessary to develop adequate solutions. In addition, the widely common (and justified) perception of perfumery as an art and craft creates a basic distrust for AI solutions in fragrance.
AI in Fragrance
Nonetheless, AI is beginning to penetrate fragrance. Similarly to other industries, it started from applications that are not unique to fragrance, such as analyzing consumer behavior as recorded in e-commerce transactions and social media for the purpose of creating fragrance products that sell better. But also recent years innovations in machine learning, bioinformatics, and drug discovery have posed an opportunity to develop AI models that touch the core of fragrance design and formulation and can actually make computers sense and articulate olfactory perception. Publicity of such innovation made stakeholders in fragrance more open to risk resources for progress. The integration of AI in core fragrance capabilities manifests in several types of applications: formula-to-brief recommendation, formulation, sensing, and new molecule design. The formula to-brief recommendation is the ability to match existing fragrance formulas to new briefs. It enables fragrance houses to match formulas out of their 50,000+ formula portfolios to new customer briefs that could benefit existing non-exclusive formulas and enable fragrance houses to continue monetizing them.
Moodify has launched its Reformulation Artificial Intelligence (AI) software, Moodify (Re)formulation. The software enables a quick, highly effective and component-flexible process, allowing perfumers to substitute components while maintaining the same odor profile as in the original formula.
Moodify (Re)formulation provides a fast and cost-effective way to keep up with changing regulations and ingredient availability.
The technology facilitates automatic replacement, enabling formulators to choose the best available molecule/accord. It also offers several contenders based on their level of similarity to the original molecule while optimizing for different constraints.
Eyal Maor, CEO, Moodify, said, “We are thrilled to launch Moodify’s (Re)formulation, which we believe will revolutionize the way perfumers and fragrance professionals approach scent reformulation. Our technology offers a cost-effective and efficient solution that ensures regulatory compliance and meets the high expectations of consumers for the product scent experience.”
As a result of the final selection, the selected companies for FY2022 have been announced
Moodify Ltd. Participated in the Kumihimo Tech camp, as the first non-Japanese company to be accepted.
Moodify achieved the Excellence award for joint prototyping and joint marketing of a “scent printer” – a multi-cartridge diffuser that combines primary scents to create hundreds of fragrances, in the same way, that RGB creates colors in printers.
The launch of Moodify White at in-cosmetics Global marks the introduction of the world’s first AI-based algorithmic malodour control application.
Israeli technology startup company, Moodify announced the official launch of its Moodify White software solution for malodour control on the first day of the global trade show. Moodify White is said to be world’s first AI-based algorithmic malodour control formulation application.
The innovative solution has been developed to mask bad smells, enabling a quick, highly effective and component-flexible malodour control formulation process.
Up until now, existing formulas and malodour control solutions have either been chemistry-based and limited in functionality, or excessively intense and unpleasant. Moreover, the present methods for designing and formulating malodour control solutions require extended periods of development.
Customised AI-based formulas
Moodify White is based on more than 15 years of academic research and extensive development of Moodify AI-based algorithms. These algorithms easily generate malodour formulas that are said to outperform the best malodour control benchmarks created by any other supplier when introduced to the human nose, eliminating the perception of bad smells. The advanced algorithm selects the best combination of odour neutralisers, creating a customised formula that perfectly matches the target customer’s malodour requirements.
The final formula has the concentration of components needed to obtain the expected effect, and the material amounts can be updated during the optimisation of the composition. Regulatory limitations and price considerations are also considered to ensure that customers get the most cost-effective and efficient solution.
Odour map A versatile solution from a trusted source
Moodify White is ideal for a wide range of industries, including home care, personal care, household and industrial product manufacturers. By supplying a highly effective and customisable solution for malodour control, it empowers companies to create products that meet the high standards of today’s consumers and react faster to changes and customisation requirements. Applications include deodorants, detergents and other cleaning and personal hygiene products.
“We are extremely excited to launch this innovative solution at in-cosmetics Global 2023. Our customers who already receive help from Moodify White generated formulas, are reporting a significant impact on the efficiency to mask malodours,” says Eyal Maor, Moodify’s CEO. “Our advanced technology and commitment to delivering high-quality solutions make us a trusted partner for companies looking to enhance their customers’ experience. With Moodify, bad smells are no longer a problem.” Moodify is exhibiting at in-cosmetics Global, the world’s leading event for personal care ingredients from 28 to 30 March in Barcelona, Spain. Visit booth #AJ90 for more information and to experience the Moodify White solution.
Moodify has announced the official launch of its Moodify White software solution for malodor control at in-cosmetics Global 2023. Said to be the world’s first artificial intelligence-based (AI) algorithmic malodor control formulation application, Moodify White is designed for masking bad smells that enable a quick, highly effective, and component-flexible malodor control formulation process.
Moodify White is designed to be utilized by a wide range of industries, including home care, personal care, household, and industrial product manufacturers.
The application was developed based on 15 years of academic research and development of Moodify’s AI-based algorithms, which are said to select the best combination of odor neutralizers, creating a customized formula matching the target customer’s malodor requirements.
Moodify CEO Eyal Maor shared, “We are extremely excited to launch this innovative solution at in-cosmetics Global 2023. Our customers who already receive help from Moodify White generated formulas are reporting the significant impact on the efficiency to mask malodors. Our advanced technology and commitment to delivering high-quality solutions make us a trusted partner for companies looking to enhance their customers’ experience. With Moodify, bad smells are no longer a problem.”