Momenta Ventures invests in Axino

Momenta Ventures has led the first round of financing for Axino. As a result, Momenta has named Mario Vögeli as the new CEO at the company based in Solothurn, according to a press release from Momenta, which provides venture capital for digital firms.

Axino supports food retailers in the digitization and automation of food quality management and in meeting increasingly complex food safety requirements.

To do so, Axino combines sensor technology with artificial intelligence. This solution created by the company, which was established in 2016 and has received several awards, enables the core temperature of chilled food to be checked at a distance in retail stores. According to a statement from the company, by collaborating with industry leaders such as Migros, Switzerland’s largest retailer, Axino has already proven that it is in a position to exploit its market potentials. 

Ken Forster, Executive Director at Momenta Ventures, sees Axino’s solution as a “first critical step in the digital transformation of retail”. Mario Vögeli adds in the press release: “I was immediately attracted to Axino, by the depth of its team and technology, as well as by the market need for these solutions.”

Ihab Hourani, CTO and Founder of Axino, says that he is “thrilled to have Momenta and Mario Vögeli join our team”, going on to add that their deep experience of the digital industry will expedite the market rollout of the product in global retail.