Wellington-based deep tech startup Marama Labs has secured $ 1.25 million in new funding as the company looks to grow.
The round was co-led by US venture capital firm Quidnet Ventures and New Zealand Growth Capital Partners (NZGCP), with support from several New Zealand investors.
Marama Labs chemical analysis tools give industrial customers, such as wineries, chemical information about their products.
According to the company, when paired with its cloud-based data analytics platform, Marama Labs helps customers control and optimize their production processes, save money and create products. and brands that meet consumer demand.
The company says the funds will be used to grow the team, expand its customer base, and further develop Marama Labs’ proprietary hardware and software platform.
In addition, the investment will allow Marama Labs to continue to expand its reach to international customers and markets in the United States and Europe.
Marama Labs CEO and Co-Founder Dr Brendan Darby, “With a client list already comprising several major New Zealand and Australian wineries, and international distribution partnerships in place in Australia and under discussion in Europe.
“Customer feedback shows that users are already seeing significant value in the product and understand what it can do to help them transform their businesses. “
Regarding the company’s unique value proposition and its potential for growth, Darby says, “The science behind our sensors is quite revolutionary, and our customers are already telling us that they are unlocking new value since adopting the platform.
“It allows them to proactively respond to changes in the global wine landscape in ways they just couldn’t do before. “
He says, “Winemakers spend millions of dollars every year to produce great products, and they’re really good at what they do.
“Yet before Marama Labs there was no easy way to understand, manage and control many of the most critical chemical components that underpin the best wines. Wine is such a complex product.
“We use light to track the color and flavor characteristics from grape to bottle. This gives winemakers the best science when they need it – in the loop between the wine producer and the wine consumer. “
Darby says Marama Labs is excited to enter its next phase of growth.
NZGCP Investment Director Marcus Henderson commented on the tour de table.
He says, “Co-investing alongside Quidnet Ventures enables global experience and connection opportunities that help drive Kiwi innovation. We are delighted to support Marama Labs through our Aspire fund and support them in their next phase of growth. “
Quidnet Ventures says it immediately saw the potential of Marama Labs’ technology platform, and this fits well with the experience of the fund team.
Quidnet Ventures Founder and General Partner Mark Bregman said, “Leading the investment cycle in Marama Labs is a natural step for Quidnet Ventures. Given my background in experimental physics and in the wine industry, I see Marama Labs revolutionizing the way winemakers characterize their wine and target the desires of their customers. “
Bregman says, “Brendan and the team’s vision of transforming process control in liquid production systems is both courageous and refreshing. Many wine companies rely on the inertia of consumer demand and a very traditional prestige brand positioning.
“Marama Labs is right on the frontier of the changing models driven by the adoption of technology in this market, both on the production and consumer side, and is accelerating the winemaking experience in the digital age. delighted to support their growth. “
Marama Labs initially focused its efforts on targeting the wine industry. However, its spectroscopy technology has wide application in a range of other industries, including other beverages, water testing, and pharmaceuticals.
Expansion into different industry verticals is part of the company’s long-term roadmap, according to Darby.
He says, “We are building a future where a wide range of industrial customers can use our platform to seamlessly monitor, manage and adapt their production processes to improve both quality and sales. It is an exciting journey.