Cryolog raises 6 million euros for second round of financing

Cryolog, a company specialized in the traceability of product freshness, has announced the finalization of its second round of financing with 6 million euros from four investment funds. The funds of Socit Gnrale Asset Management Alternative Investments (SGAM AI) and Innoveris (Viveris Management – Caisse d'Epargne) have joined the historical investors Inventages and Bioam who have been present in the capital of the company since June 2004. This financial operation will allow Cryolog to continue the development of its activities and to meet the strong growth in demand from its markets. 

The solutions which have been developed by Cryolog, and which are currently being rolled out with key players in the supermarket retail and catering sectors, take the form of a range of freshness labels which indicate when a product is no longer fit for human consumption. Based on a disruptive technology and offering completely new functions, these labels, which have received 15 awards since the company was created, have met with great success from professionals and consumers. 

Renaud Vaillant, CEO and founder of Cryolog, said: ‘The solutions that Cryolog offers respond to core trends which are traceability, improvement in quality and food safety and the reinforcement of existing regulations. With our innovative approach and highly technological orientation, Cryolog wishes to confirm its position as leader on the market of traceability and intelligent packaging.’ 

‘Food safety and freshness have become the key factors in differentiation for food manufacturers and distributors. With its simple and unique technology, Cryolog is in the process of becoming the reference for consumer purchasing decisions,’ added Erich Sieber, partner at Inventages.