Dreamtech will invest an additional US$ 2million into Israeli electronic nose firm Nanoscent.
Dreamtech has also secured the exclusive sales right of their co-developed electronic nose solution in South Korea, the company said.
The European Investment Bank will also put in US$9.5 million into the Isreli firm’s US$20 million funding round.
Nanoscent will now move to get approvals from country to commercialize the electronic nose.
The firm’s electronic nose can detect whether someone has contract COVID-19 through breath analysis. The procedure takes 30 seconds to confirm whether they have contract the virus, according to Dreamtech and Nanoscent.
Dreamtech has developed the disposable breathing bag and analysis kit for the electronic nose solution.