Scent tech company’s sleep solution raises investment to grow with Innovate UK support
Hynt, a London-based scent tech company, is transforming the way we sleep. With bespoke business growth support from Innovate UK, Hynt secured an Innovate UK Investor Partnerships grant and investment totalling £2.2m to advance its scent system for sleep to real-world testing. This support has safeguarded jobs and positioned the company to address the £40 billion annual cost of poor sleep to the UK economy.
Founded in 2019 by Dr Emanuela Maggioni and Professor Marianna Obrist, Hynt combines its expertise in olfactory (sense of smell) research and innovation to develop a revolutionary scent system for sleep. The system integrates AI-driven scent algorithms, biofeedback and sensors.
The smart device delivers personalised scents at different phases of the sleep cycle to help users fall asleep, stay asleep and wake feeling refreshed. Decades of research have shown the powerful link between scent and emotions, making Hynt’s technology a natural solution to improve sleep quality.
“Our sense of smell is deeply tied to how we feel and function, yet it has been underutilised in health technologies,” says Dr Emanuela Maggioni, CEO and Co-Founder of Hynt and Honorary Senior Research Fellow at University College London (UCL), Department of Computer Science. “We wanted to create something that uses this incredible sense to help people tackle the everyday challenge of poor sleep.”
Strategic support to secure investment
Hynt was referred to Innovate UK Business Growth by UCL. Seeking funding and strategic guidance, the company was matched with Innovation and Growth Specialist, Stuart Hartley in September 2023.
During their initial meeting, Stuart worked with Hynt to develop a bespoke action plan for refining its value proposition and pitch deck. This enabled the company to prioritise its resources effectively, target key investors and align its strategy with market opportunities.
Stuart also helped Hynt focus on the sleep tech market as a priority, shaping its pitch to investors and providing the strategic tools to secure a £1.5 million venture capital raise from Parkwalk Advisors. This funding was a necessary condition to unlock a £700,000 Innovate UK Investor Partnerships grant, bringing Hynt’s total funding to £2.2 million.
Dr Maggioni adds: “The guidance from Innovate UK Business Growth has been invaluable. Stuart helped us refine our approach, equipped us with the business skills to secure investment and enabled us to take a significant step toward bringing this technology to people who need it most.”
In addition, Hynt also benefitted from an Innovate UK Business Growth IP Audit, which helped the business develop a roadmap to protect its technology and prepare for future funding rounds.
Real-world testing and future societal impact
Seed round funding, including the Investor Partnerships grant, enabled Hynt to move its digitally controlled scent system for sleep into real-world testing, closely collaborating with a world-leading research sleep centre. This critical step helped validate the technology and provided insights to enhance its effectiveness further. It also marked a significant milestone in the company’s journey toward commercialisation.
The investment has enabled the safeguarding of existing jobs within the team, whilst allowing the team to create new jobs in key development areas and positioned Hynt for its next funding round. More importantly, the technology’s societal impact is profound. Poor sleep affects 74 percent of UK adults, according to a 2022 Nuffield Healthier Nation Index study, and contributes to reduced productivity and wellbeing. Hynt’s solution offers an innovative way to address this widespread challenge while driving growth in the UK’s health and technology sectors.
“This technology has enormous commercial and societal potential,” notes Dr Maggioni. “It’s exciting to see how far we’ve come with Innovate UK Business Growth’s support. This investment is a springboard for what’s next.”
Shaping the future of digital scent innovation
Hynt is now preparing for its next funding round while advancing its scent tech for sleep toward commercialisation. The company’s innovation has the potential to significantly benefit the UK economy by addressing the cost of poor sleep and improving productivity across industries. It is also the foundation for exporting world-leading technology internationally, demonstrating the strength and leadership of the UK technology sector.
By enhancing sleep quality and overall wellbeing, Hynt’s technology is setting out to improve and support a healthier, more resilient society.
The guidance from Innovate UK Business Growth has been invaluable. Stuart [Innovation and Growth Specialist] helped us refine our approach, equipped us with the business skills to secure investment and enabled us to take a significant step toward bringing this technology to people who need it most.
– Dr Emanuela Maggioni, CEO and Co-Founder of Hynt