Startup secures £2.2m to digitally enhance sleep experience
Cambridge-based startup OW Smell Made Digital has recently raised £2.2m in a combined equity and grant round for its innovative use of AI and scent databases to digitally "print smells" and enhance sleep quality, reports UKtech. Founded in 2019 as a spinout from the University of Sussex, the company initially focused on developing technology that transmits scents digitally.
Though interest in the metaverse has waned since its last funding round, OW Smell Made Digital sees potential market applications for its platform. Backed by the new investment, the startup aims to explore the deployment of its scent technology in the sleep industry, which is valued at over $500bn worldwide, according to Emergen Research.
Scientific research increasingly supports the notion that scents can significantly impact the sleep experience, as demonstrated by studies that employ biofeedback devices. OW plans to license its platform and hardware to industry partners, enabling the development of customized sleep-enhancing scents.
CEO and co-founder Emanuela Maggioni emphasized the impressive potential of translating smell into technology for enhancing well-being, experiences, and health. The recent investment is expected to facilitate the unlocking of numerous commercial applications for OW Smell Made Digital.
The successful pre-Series A investment round was led by Parkwalk Advisors, a vote of confidence in the innovative technology originating from UK universities. John Pearson, Chief Investment Officer at Parkwalk Advisors, commended OW's groundbreaking work, remarking, "OW is helping to bring the experience of smell in line with major advances in both video and sound. Digitalizing smell and delivering personalized scents into homes is a major step forward in immersive experiences and has vast potential."
With their recent funding boost and a firm belief in the power of scent, OW Smell Made Digital is poised to revolutionize the way we approach sleep enhancement and potentially explore a variety of other applications for their groundbreaking technology.
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