This young startup is taking on a fragrance industry that hasn’t changed in a almost half century
Fragrance tech company Patina announced Thursday a $2 million raise from investors, including Betaworks and True Ventures.
Investment in novel applications of synthetic biology is increasing, attracting venture capital into niche industries for disruption.
This small raise highlights how advanced biotechnology is slowly penetrating and modernizing traditionally stagnant industries, creating new market opportunities.
A new entrant is bringing biotech innovation to the fragrance industry, which has historically relied on conventional and slow-to-evolve methods.
- · Patina
- · Betaworks
- · True Ventures
- · Consumers seeking novel fragrances
- · Traditional fragrance manufacturers
Patina gains capital to further develop and scale its fragrance technology.
Increased competition and innovation in the fragrance industry, potentially leading to more diverse and sustainably produced scents.
Broader investor interest in applying synthetic biology to other consumer goods sectors that have seen little technological change.
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Read at TechCrunch — Venture