Moodify Raises $1.6M Funding for Advanced Functional Scents
Summary
“The company’s solutions for safety and well-being generate great interest not only from leading players in the mobility ecosystem but also from several other major industries offering numerous use cases. Although very powerful, using advanced scent technologies to solve-real world problems has very rarely been successfully achieved at scale, but we believe Moodify has great potential do so.” “Our mission at Toyota AI Ventures is to explore new innovations, and so we’re excited by the potential of Moodify’s functional fragrance technology, for automotive applications and other use-cases,” said Jim Adler, founding managing director of Toyota AI Ventures. “Moodify’s scent solutions are based on years of scientific research that tap into the powerful impact that smell has on our sense of well-being – whether to calm us, alert us, or enhance the perception of our environment. Next Gear is leveraging its strategic relationship with Drive TLV with its global mobility partners network to identify, mold and work with Israel’s top startups. Toyota’s first standalone VC fund, Toyota AI Ventures focuses on investments in areas like artificial intelligence, data, cloud, mobility, and robotics.