Observed Signal · Aug 8, 2024 · Funding · Source: Tech.eu · Impact: 2/5 · Sentiment: Positive
Digital Scent Startup OW Raises £2.2M Pre-Series A
OW Smell Made Digital (OW), a UK startup developing digital scent technology, has raised £2.2M in a pre-Series A funding round. Parkwalk Advisors led the round with a £1.5M investment, and Innovate UK contributed a £0.7M grant through its Investor Partnerships Programme. Founded in 2019 as a University of Sussex spinout, OW combines AI, scent databases, and proprietary hardware to 'print' smells. Its first market application targets sleep improvement: biofeedback devices such as smart watches detect sleep indicators, and the system delivers personalised scents to improve sleep stages. The company plans to license its AI platform and hardware to industry partners in sleep tech and aims to expand into digital media, retail, immersive events, automotive, and health-related applications. OW will use the funds for validation studies, AI training, and IP investment.
Early-stage funding for a novel sensory technology with potential future applications in immersive advertising, digital media, and brand experiences; relevant but niche and not yet deployed in AdTech.
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Key Takeaways & Evidence Grounding
- OW Smell Made Digital raised £2.2 million in a pre-Series A funding round.
- Parkwalk Advisors led the round with a £1.5 million investment.
- Innovate UK awarded OW a £0.7 million grant through its Investor Partnerships Programme.
- OW was founded in 2019 as a spinout from the University of Sussex.
- OW's first market application is personalised scent delivery for improving sleep.
Ontology Mapping & Concepts
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Universal Quantum Raises Record $100M Series A
Universal Quantum, a UK-based quantum computing startup spun out of the University of Sussex, has raised a $100 million (€89 million) Series A round, the largest ever for a British quantum company, bringing total funding to over $125 million. The round was co-led by DCVC and Firgun Ventures, with participation from EDBI, Integral GlobalTech, NGS Super, and Roblox founder Dave Baszucki, as well as existing investors Nauta Capital and The Venture Collective. Founded in 2018 and based in Haywards Heath, UK, the company specializes in trapped-ion quantum computing with microwave control on its iQPU chip, targeting room-temperature, scalable, error-corrected systems. The funds will accelerate global expansion in the US, Japan, and Germany and support commercialization. Universal Quantum holds a €67 million contract with the German Aerospace Center (DLR) and a partnership with Rolls-Royce.
TODAY raises €2.8M for AI advisor platform
TODAY, a Copenhagen-based AI startup for financial and insurance advisors, has raised €2.8 million in seed funding. The round was co-led by High-Tech Gründerfonds (HTGF) and Insurtech Gateway, with participation from Seed X, Lucid Capital, and angel investors including former HDI CEO Herbert Rogenhofer and Tech11 founder Pierre Dubosq. Founded in 2024 by Michael Gackstatter and Artem Demchenkov, TODAY develops an AI-powered sales operating system that automates administrative tasks, transcribes meetings, generates IDD-compliant documentation, coaches advisors, and answers calls. It also offers a simulation product for training. Advisors using TODAY save an average of five hours per week and can generate up to 10% more revenue. With over 3,500 advisors in the DACH region, the funding will be used to expand across the region and accelerate development.
Verso Raises $6M for AI Consumer Intelligence Platform
Verso, an AI-powered consumer intelligence platform, has raised $6 million in seed funding. The round was led by Angular Ventures, with participation from 100in, Kima Ventures, Olympe Capital, Sharpstone Capital, and business angels, plus backing from startup studio Hexa. The platform automates consumer research from study design to AI-moderated interviews and analysis, building dynamic consumer personas. It claims to deliver insights ten times faster and at a quarter of the cost of traditional research agencies, engaging 15 times more consumers. More than 30 companies, including Ferrero, Orange, and Michelin, use the platform. Verso plans to expand data sources, enable AI agent access, and grow beyond France into the US, hiring across engineering and go-to-market roles.
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