Momenta tops up investment in Axino

Axino has banked a total of 1.5 million Swiss francs from Momenta Ventures, details of which can be found in a press release. The venture capital firm originally invested in the company based in the canton of Solothurn back in March of this year.

Axino supports retailers in their efforts to digitalize and automate quality management processes for food produce in addition to complying with regulations governing food safety. To this end, the company combines sensor technology with Artificial Intelligence (AI). Its solution facilitates remote monitoring of the core temperature of chilled food in retail stores, for example.

This Axino development is used by Migros, Switzerland’s largest retail chain, among other companies. Now, however, Thomas Busin, who supported implementation of the Solothurn solution at Migros, is set to join the company’s Board of Directors. According to the press release, Busin boasts more than 30 years of experience in the field of retail quality management.

“We are pleased to increase our funding for Axino. Their solutions are a triple win for retailers – helping them save costs and energy, meet stricter food standards, and to better serve their shoppers with fresher foods”, comments Ken Forster, Executive Director of Momenta, in the press release. Forster goes on to explain that this represents a key step as part of the digital transformation of the retail world.