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Syft Technologies, known as an "electronic nose" company, has completed a $4.4 million placement.
The Christchurch-based company is trying to raise about $10 million to accelerate its growth initiatives, including sales growth in Europe and the US, researching new products and applications, and improving its intellectual property portfolio.
Syft is a high-tech spin off from Canterbury University and is the developer of an ultra-sensitive detector that recognises substances in tiny amounts of less than one part per billion.
