QualySense, an Switzerland-based grain and seeds sorting technology provider, has raised SFr350,000 ($500,000) in equity financing from its founders and a selected number of Swiss and international business angels.
QualySense also closed a SFr500,000 convertible loan with the Zurcher Kantonalbank’s (ZKB) seed fund.
The funding follows QualySense winning the SFr130,000 Venture Kick innovation competition last year and subsequently gaining development agreements with the Swiss Commission for Technology & Innovation worth SFr1.1m and with the US Department of Agriculture for $1.5m.
Francesco Dell’Endice, chief executive of QualySense, said: ¨With ZKB, we have an experienced leading provider of early stage capital to promising ventures.¨
Andreas Schweizer, investment manager from ZKB Start-up Finance, added: ¨We have invested in QualySense because we believe there is a market need for QualySense’s sorting technology. The convincing team works at the edge of technological innovation while their products address a rather traditional market segment. We liked that approach."