Swiss start-up Microcaps AG has completed a Series A financing round, raising CHF 9.3 million (about EUR 9.7 million or USD 10.4 million) to expand its technology of alginate-based perfume pearls.
The capital increase saw participation from new private investors, as well as contributions from Microcaps’ existing shareholder base, including Helvetica Capital AG, Zürcher Kantonalbank, and the ETH Foundation.
The company intends to use the funds to enhance its production facilities as well as continued development effort for applications beyond cosmetics and fine fragrance applications.
"We are thrilled to have secured this funding, which will allow us to expand our production capacity significantly," said Michael Hagander, co-CEO of Microcaps. "The rising demand for our Perfume Pearls highlights the market’s recognition of our patented technology and its potential to impact the fine fragrance industry. This investment is a testament to the strong support from our shareholders and their belief in our mission to innovate and lead in the microencapsulation sector."
Microcaps presented its innovative solutions at the Fragrance Innovative Summit last year and scooped the "Sensory Bar” award at the in-cosmetics Global show in April. Last January, the company unveiled the first-ever fine fragrance leveraging their technology: Lamar Caviar Perfume d’Eau by Kajal Perfumes Paris. Developed in partnership with Swiss fine fragrance house Luzi, the ethanol-free perfume promises a non-sticky, non-milky application through a natural and vegan irritation-free formula.
