Sensor startup Lumense raises $2.65M in Coca-Cola led Series B

November 16, 2013
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Urvaksh Karkaria
Staff Writer- Atlanta Business Chronicle

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Atlanta-based sensor technology startup Lumense has raised a reported $2.65 million from the GRA Venture Fund and The Coca-Cola Company.

Formed in June 2011, Lumense offers chemical and biological sensors targeted for use in the poultry, food and beverage, and water quality industry.

In poultry, Lumense is working to help poultry growers measure levels of ammonia in their poultry houses. In the food and beverage and water industries, the technology aims to detect contaminants and chemicals.

Coca-Cola’s interest in the sensor technology revolves around the quality control process, Lumense CEO Mike Slawson said.

“The sensor will help them more easily and affordably do that,” Slawson said.

The Series B round included Norcross-based Intelligent Systems Corporation (NYSEMKT:INS) and angel investor Leland Strange, who previously financed the company.

The new capital will be used to move the company’s flexible and scalable sensor platform, and its initial products, into volume production.

Lumense, located in tech business incubator Advanced Technology Development Center, has developed technology based on $20 million in funded research conducted at Georgia Tech

Lumense’s chemical and biological sensors technology has been used to continuously detect trace amounts of more than 50 substances, many of which could be previously detected and quantified only with expensive laboratory equipment after sampling.

Initial products – a sensor for detecting trace levels of impurities in gases used by the food and beverage industry, and a sensor for tracking ammonia levels in poultry grow-out houses – are undergoing beta testing.

A water quality monitor is also under development, and is expected to be available in 2014.

Urvaksh Karkaria covers Technology and Health Care

Article source: http://www.bizjournals.com/atlanta/blog/atlantech/2013/11/sensor-startup-lumense-raises-2m-from.html

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