Infrared spectrometer specialist IRsweep gets fully acquired by Sensirion

10.05.2021 08:30, Guillaume Tinsel

ETH Zürich and Empa spin-off IRsweep based in Stäfa announces being fully acquired by Sensirion Holding AG, a leading provider of environmental and flow sensor solutions. The startup offers cutting-edge optical sensing technology based on semiconductor quantum cascade laser (QCL) frequency combs in the mid-infrared. Millisecond time resolution combined with large spectral bandwidth and high-resolution offer new possibilities in trace gas sensing and online process analysis. We interviewed Co-Founders and Directors Markus Geiser, Markus Mangold, and Andreas Hugi about the resaons of this acquisition and their entrepreneurial path in the Swiss startup ecosystem.

Sensirion has been a minority investor of IRsweep with 33% of the shares since 2017. With this acquisition, Sensirion expands its optical sensing technology portfolio from components and modules to stand-alone infrared spectrometers for industrial and research applications. Many spectroscopic applications in industry and research simultaneously require high spectral resolution and speed. IRsweep’s infrared spectrometers based on its QCL frequency comb technology allow studying fast processes very accurately, such as protein dynamics or industrial reaction monitoring, without the need for moving parts.

IRsweep AG was founded in 2014, has eleven employees, and introduced the first commercial mid-infrared dual-comb spectrometer in 2017 and has systems installed in Europe, North America, and Asia. IRsweep is currently focusing on high-end laboratory applications for research applications, exploiting the superior optical power of Quantum Cascade Lasers and the power of the dual-comb multi-heterodyne spectroscopy technique. Core applications of IRsweep’s technology include the study of fast reaction kinetics in research and development applications. This acquisition allows Sensirion to strengthen its optical sensing technology portfolio enabling long-term developments of cost-efficient sensing solutions based on optical measurement principles, such as trace gas analysis in environmental monitoring or the detection of methane leaks.

IRsweep co-founders and Directors, from left to right: Markus Mangold, Andreas Hugi, and Markus Geiser
 

What did drive the decision to join Sensirion?
-Markus Geiser: Sensirion has an impressive track record of marketing hardware products globally – and in volume. Sensirion’s Co-Chairman Moritz Lechner joined our board at the time of their original investment in 2017 and he has been an incredible source of guidance since then. Sensirion’s culture of fairness, honesty, and efficiency has also been an inspiration and we are excited to grow further as part of such a structure. We think the acquisition will allow IRsweep to get to the next level in terms of new applications and expanding into new geographies much quicker than we could have on our own. 

What are the key learnings you take away as an entrepreneur? 
-Markus Geiser: Getting in touch with potential customers and key opinion leaders in the respective markets as early as possible was key for us to understand how we could turn our technological capabilities into a useful product for them. Another important aspect was to work with seasoned industry professionals, as the founding team didn’t have much industry experience at the time. A prerequisite for all achievements was an absolutely motivated and capable team – including the co-founders and our employees – that was not deterred by challenges, but also not too stubborn to learn from setbacks.

How do you see the development of your solutions in the future?
-Markus Mangold: Currently, we have a high-value measurement solution for niche applications. Future development will make our spectrometer more broadly available to unlock applications such as industrial quality control or distributed sensing platforms. Eventually, we envision low-cost sensors for high-volume applications based on our technology.

Over the year you have developed multiple applications using infrared spectrometry technology: which one did you feel was the most exciting and why?
-Markus Mangold: I am personally very excited about the 10m fiber probe measurement that we have demonstrated last year. It shows the value that laser-based solutions can offer for applications in industrial environments. A single instrument can now probe different measurement spots in a complex process without the need for manual relocation.

What difference does it make to be based in Switzerland for your activity? 
-Markus Geiser: Having world-class universities is key to hiring talented and skilled team members. Switzerland also has strong players in sensing and measurement that are globally known for high quality, which definitely opens doors. 

You won Venture Kick in 2015. How did it help you lay the foundation for your growth and today's achievement? 
-Markus Geiser: Venture Kick was a very valuable support early on, as we could use the funds to support commercial activities, which was key to complement the R&D funding sources that support technical developments. The “Kicker’s camp” workshops also helped sharpen the market positioning of our planned product. We also met one of our long-term advisory board members – Philip Bodmer – through the Venture Kick Jury.

You also participated in ESA BIC Switzerland and were selected on TOP 100 Swiss Startups Awards in 2017 and 2018. How did it leverage your fundraising strategy? 
-Markus Geiser: For fundraising, these programs serve as quality seals and helped to attract potential investors. For IRsweep, fundraising meant finding someone who understands this very specific product and market that we are focused on. Beyond investor contacts, we are very grateful for the financial support and expert access that these programs provided, and in addition to the ones that you cited, I want to mention the Swiss Volkswirtschaftstiftung, as well as the ETH Foundation which granted us a Pioneer Fellowship.

When, and what, was your inspiration to found IRsweep?
-Andreas Hugi: The idea to found IRsweep was a process including many steps which took several years. One important step was surely that I followed the Venturelab Venture Challenge workshop during my Ph.D. This was a great source of inspiration. What I liked most about the course is the straightforward nature: the goal is certainly not to butter up the audience but rather tell them the reality (including the excitement) of founding a startup. The second important step in the process was to openly discuss the idea with many people early on. This is how I managed to assemble a great founding team as well as a strong advisory board. Each idea needs time to grow. One by one, each co-founder came back to me and said: yes let’s do it.

What is your advice for the potential electronics entrepreneurs launching companies in Switzerland today?
-Andreas Hugi: Read the book “Die Kunst des klaren Denkens» by Rolf Dobelli, it has been and still is an inspiration to me. It helps to put the journey of founding a company in context and I believe it helps to navigate the ship in stormy and unknown waters. Surround yourself with the right people and listen carefully to what others have to say.