Artmyn raises CHF4 million

Founded in 2014 in Lausanne, Artmyn with a team of ten employees developed a scanning technology that is capable of producing 5D interactive images and 1.5billion pixels customizable immersive video, that browsable with different light orientations, under visible light and ultraviolet. The scanners have now been equipped with a new infrared feature, which allows capturing under layers, sketches and markings underneath the finished product.

Beyond enabling interaction, the scanner generates a digital fingerprint and condition of a piece of art, as it moves through the global art market as it moves, thereby ensuring the authenticity, security and transparency of the artwork. More than 15 clients including auction houses, private collectors among others from Euope and the US are already using the technology.

For the next stages of development, Artmyn has secured CHF4 million in convertible notes co-led by Invaluable, the online marketplace for fine art, antiques, and collectables with contribution from existing private investors.

The funding will power further scanning technology developments, as well as the manufacture and distribution of scanners to more auction houses in Europe and the US via strategic partnerships with Geneva Free-Ports, where an Artmyn scanner is already located and Invaluable Arts. According to the Alexandre Catsicas, Co-founder and CEO of Artmyn the company has plans to expand its technology to the Golf Area and the Asian markets.

Commenting on the investment, Rob Weisberg, CEO of Invaluable who joined the Artmyn Board of Directors, said: “We’re excited to invest in Artmyn because the combination of its incredible technology with Invaluable’s marketplace of the world’s top auction houses will revolutionize the art market. It will allow auction houses to treat every artwork like a masterpiece,” said Weisberg.

(Press release/ran)