The Geneva-based startup RefFIT offers software for analysing spectroscopic data in material science, enabling users to apply the tool without requiring expert training. This reduces time and costs in data analysis and model development for its growing user base. The startup won the third stage of the Venture Kick program, winning CHF 150,000 to propel its development.
Combining scientific models with machine learning, RefFIT enables one-click data analysis and eliminates the need for custom codes or complex statistical models. While spectroscopic analysis is crucial for deciphering material properties, using the data produced during these analyses remains a great challenge due to complex light-material interactions. Widely used in industries for quality control, material identification, and pollution monitoring, existing analysis software often lags behind sophisticated hardware. Additionally, current methods are lengthy and expensive, requiring large calibration data.
Three co-founders, Iris Crassee, Nicole Ruckstuhl, and Willem Rischau ( senior researchers at the science faculty of UNIGE) established RefFIT to revolutionise this process with a no-code, model-based approach, significantly reducing the need for extensive calibrations and resulting in faster, more accurate, and accessible material analysis. This advancement not only boosts data analysis efficiency but also expands applications in manufacturing, semiconductors, photonics, and recycling, all without specialised training.
The startup’s focus areas are the environmental sensing, semiconductor, and coatings industries. It caters to engineers and scientists conducting self-analysis and real-time solutions in production processes as well as to spectroscopy hardware manufacturers that can integrate RefFIT with their products. Accessible as a web app and API, RefFIT currently gains over 1,400 new users annually. With more than 400 thousand spectrometers in operation globally, the total addressable market is estimated to be above 1 billion yearly.
RefFIT will invest CHF 150,000 to expand the team and accelerate the development of its advanced web application and API. This investment will enable the launch of three new APIs for hardware manufacturers and the rollout of the web application in 2024. With the financial support received from Venture Kick, these product launches will be accompanied by a marketing strategy set up, representing an important achievement in RefFIT’s journey towards innovation and growth.
“Participating in the different phases of Venture Kick has sharpened our focus on business development and helped us expand our client network. This path has positioned us perfectly for the exciting next phase, with future clients lined up,” stated the RefFIT team. “In the next year, we are set to heighten our ambitions, targeting to raise 1 million in seed funding to fuel the development of the commercial grade RefFIT.”
(Press release/RAN)
RefFIT’s Co-Founders: Nicole Ruckstuhl, Iris Crassee, and Willem Rischau
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