Inniti, an IoT and cloud-based software platform for industrial companies, raised a $2.9M seed round to fuel its growth in automating laboratories.
The round was led by Frontline Ventures, a leading early-stage B2B tech investor, with continued participation from current investors Vaekstfonden and Axilium Holding. New investors also include People Ventures, a leading Nordic early-stage tech investor, and a group of business angels.
Inniti allows companies to access, analyse, and utilise their data from lab equipment anywhere at any time through Inniti’s unique IoT connector and secure cloud-based platform.
With the Inniti Solution, laboratory professionals can build and automate experiments within minutes and automatically normalise and transfer the data to their existing ELN, LIMS or ERP systems. Unlike any other company, Inniti can remotely control experiments, collect the data and analyse it in real-time.
Closing the gap between laboratory equipment and software
Inniti was founded in 2017 by lab enthusiasts CEO Malthe Muff and CTO Anders Lund after discovering that industry professionals struggled with basic logging of equipment data and spent much of their time on tedious and repetitive operational tasks in the laboratory.
The lack of digitalisation was shocking to the founders, who all have engineering backgrounds within Industry 4.0. The founders were well aware of digitalisation's impact on laboratories and wanted to accelerate that change.
- We aim to close the gap between laboratory equipment and software to power the next generation of research labs and scientists. Laboratory data is still scattered between paper notebooks and Excel, and there’s no shared communication protocol between the equipment manufacturers, explains Malthe Muff and continues:
- Every day, highly specialised scientists and engineers waste massive amounts of time manually executing and documenting their laboratory work. By digitalising laboratories, Inniti enables industry professionals to automate the logging and monitoring of the data and analytics of experiments.
Enabling industry professionals to do more with their data
Inniti’s customer base includes major industrial companies such as Chr. Hansen and Aquaporin.
- "Inniti has helped us transform our laboratories and pilot production. We have a complete overview of our research data, and it is accessible to the whole organisation. By implementing Inniti’s solution, we have been able to save 70% of the time spent on experiments and increased our testing capacity by more than 300%," said Jorg Vogel, VP of Technology Development - Aquaporin
- “Inniti’s solutions have allowed us to monitor and control production trials globally without being present. This has been a great extension of the technical solutions that Chr. Hansen offers our customers to improve the time from product ideas over prototypes to final products on the market,” said Simon Carlsen, Application manager at Chr. Hansen.
“Helping to solve a real struggle.”
- The majority of leading research labs across the world struggle to collect, store, analyse, integrate, and share data sets,” said William McQuillan, Partner at Frontline Ventures, and continues:
- We are incredibly excited to partner with Inniti, which we believe will fundamentally advance the pace of scientific development with its foundational lab infrastructure.”
Inniti will use the new round of funding to commercialise its solution further and enhance the analytical capacity of the platform. They will also expand internationally and build out the team in sales, marketing and engineering roles.
The commercial expansion targets companies in the biotech, food & beverage, and chemical industries.
Inniti is expanding its team in Copenhagen and is actively looking for talent to support commercialisation and engineering efforts. Inniti encourages interested people to reach out.
Contact
For further information about Inniti’s technology or working at Inniti, contact CEO Malthe Muff at mm@inniti.dk
