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SwissDeCode granted CHF 500'000 growth loan

19.02.2019 14:30

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SwissDeCode has convinced the jury of the Fondation pour l’Innovation Technologique (FIT). The start-up based in Renens has been granted a FIT Tech Growth loan worth CHF 500’000 to support its growth.

Based since 2016 at the Ateliers de Renens, SwissDeCode developed a portable, self-administered, on-site DNA detection kit, which combines both food safety and compliance with regulatory bodies in a single tool.

“Our technology makes it possible to perform DNA detection analysis directly on site in 30 minutes, without having to wait seven days to get results from an external laboratory,” says Brij Sahi, CEO of SwissDeCode. “We also changed the nature of the test to become a screening tool to answer specific questions with “yes” or “no”. For example, “is this food contaminated?”: our system responds quickly; this allows companies to make the necessary decisions appropriately.

Our first target market remains the food industry (from farm to fork) and more specifically companies that routinely perform laboratory analysis. The DNAFoil technology is based on state-of-the-art research from the University of Geneva and independent validation by Federal laboratories.

A novel IOT solution for Industry 4.0
“This financial support marks a major milestone for our company, which currently has 21 employees. The loan will help us to increase our sales effort with a stronger focus on our new data and IOT solution that supports Industry 4.0. Our laboratory in Switzerland will be able to analyze a sample at a customer’s facility anywhere in the world, and create a digital certificate, possibly on the blockchain, facilitating traceability in the food industry”, explains the CEO of SwissDeCode, Brij Sahi, after the FIT jury session last December.

Finalist of several high-level competitions, the start-up is also very well known in its field of activity: the start-up accelerator venturelab has named it as one of the 10 Swiss start-ups to watch and it recently became a member of the European network “EIT-Food Rising Food Stars”, a group of outstanding agri-food young companies.

(Press release)

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