Axino secures CHF 1.5 million in funding from investors led by Momenta Ventures

Axino, a Solothum, Switzerland-based provider of a solution for quality assurance in the food retail business, announced that it secured a capital funding round worth CHF 1.5 million ($1.6M).

The money was raised from investors from Switzerland, led by Momenta Ventures. The company also announced the appointment of Mario Vögeli as the new CEO and the addition of Thomas Busin to the Axino Board of Directors.

Axino, founded in 2016 by Ihab Hourani, helps food retailers digitise and automate their food quality management process while complying with increasingly complex food safety regulations. They do this by providing a wireless sensor that can predict the core temperature of refrigerated food in retail stores even in challenging wireless environments while maintaining years-long battery life by communicating via Low-Power Wide Area Networks such as LoRaWAN. This, connected with their intelligent food quality algorithms, helps retail and cold-chain companies manage their food quality efficiently.

The company works with the local retail chain Migros.