ArgusEye, a provider of sensor solutions for real-time monitoring of biological systems, has announced the successful closure of its latest funding round, raising EUR 2.8 million. 

This latest investment brings the total raised by the company to EUR 3.45 million. Voima Ventures, a Nordic early-stage investor specializing in science-based solutions, led the funding round, with co-leadership from Eir Ventures, a Scandinavian life science venture capital fund that previously invested in ArgusEye’s seed funding. The influx of capital will fuel the ongoing development of the company's sensor system platform, Auga™, aimed at accelerating biotherapeutic development and manufacturing processes.

Founded in 2017 by Erik Martinsson and Daniel Aili, ArgusEye is dedicated to developing innovative sensors for real-time monitoring and analysis of biological systems and processes. Drawing on 15 years of research, Martinsson and Aili initiated their collaboration at a laboratory in Linköping, Sweden, focusing on ArgusEye’s localized surface plasmon resonance (LSPR) technology. This technology, utilizing gold nanoparticles for precise protein measurements, forms the foundation of ArgusEye’s sensor solutions. Since partnering with Bayer in 2021, ArgusEye has continued to validate its technology and expand its customer base.

Traditionally, quality control in biopharmaceutical manufacturing relies on labor-intensive remote testing, leading to delays in defect detection. ArgusEye's AugaOne™, introduced in March 2024, is the inaugural product in the Auga platform. Tailored for downstream processing, AugaOne™ enhances process efficiency and intensifies process development, enabling accelerated detection and quantification of monoclonal antibodies (mAbs). 

The recent investment will facilitate the expansion of the Auga platform to support upstream bioprocessing and formulation of various target molecules, revolutionizing biotherapeutic development and production processes.

Jenny Engerfelt, Investment Director at Voima Ventures, emphasized the potential of ArgusEye’s technology to drive down healthcare costs and improve efficiency in biopharmaceutical manufacturing, ultimately leading to better health outcomes for more people.

Lene Gerlach, Partner at Eir Ventures, expressed pride in further supporting ArgusEye's journey in bringing revolutionary sensor technologies for next-generation bioprocessing to life. She highlighted the potential of these technologies to enable automated development and production of medicines, making them accessible to a larger population with reduced ecological impact.

Erik Martinsson, CEO at ArgusEye, outlined the company's focus on expanding its market presence and product offerings. “As ArgusEye embarks on its scale-up phase, our focus is twofold: expanding our market footprint geographically and diversifying our product offerings to encompass the entire pharmaceutical process chain, from upstream cell growth to downstream purification and late-stage formulation as well as GMP production," said Martinsson.

ArgusEye's vision is to transform biopharma manufacturing through real-time inline quality control, addressing the industry's evolving demands.