JumpStart backs a liquids test $350,000 goes to tech company developing a gauge of quality
BYLINE: Mary Vanac, Plain Dealer Reporter
Venture development organization JumpStart Inc. has committed to invest $350,000 in a company that is developing a tool to measure the characteristics of liquids in a novel way.
The technology of Cleveland's Aria Analytics Inc. initially could be used by beverage or paint makers to test the quality of their products.
Eventually, it could be used by drug companies to detect bogus medicines or by medical professionals to diagnose illnesses by testing blood or other body fluids.
Aria Analytics represents JumpStart's 31st investment since mid-2004, involving 24 companies.
5iTech LLC, a Cleveland technology transfer consultancy that identifies Eurasian technologies for U.S. markets, started Aria Analytics in 2003.
JumpStart's investment enables Aria Analytics "to move forward to get the human resources we need to continue to build the company," said Christina Vacca, the company's chief executive and only "true employee."
Vacca, who has a deep background in managing chemical research and testing, said the investment also will enable her company to "put some power" behind projects to develop its technology with two industry partners.
"It means for me another step down the road to realize a dream . . . to start a company from the beginning and to grow it," said Vacca, who got behind her company's technology about three years ago and has been working to sell investors on it ever since.
In mid-2005, Glengary LLC, an unusual venture capital firm with an office at Baldwin-Wallace College in Berea, invested an undisclosed amount of seed capital in Aria Analytics.
Glengary also invested the expertise of Christian Bernadotte, a former Nordson Corp. executive, as Aria's temporary chief executive. Bernadotte is a Glengary operating partner.
Aria's technology is based on research done at the Russian Institute of Applied Physics at Nizhny Novgorod. A group of Russian scientists there figured out a way to use sound waves and algorithms to discern the characteristics of liquids as they dried.
Five of the scientists remain active in developing Aria's technology, which comprises a quartz crystal sensor, electronic circuitry, a sample dispensing module and proprietary software. As a drop of liquid evaporates on the quartz sensor, which vibrates, the liquid reveals its character.
Aria's technology can test most liquids - from paint to soda pop - quickly and with little or no sample preparation. The technology can provide a comprehensive description of a liquid with one test rather than many, said Vacca, who works with three contractors, in addition to the Russian scientists.
The company will aim its technology at the beverage, paint and solvent industries as a quality-control tool, said Mark Smith, the JumpStart entrepreneur-in-residence who will provide business development services to Aria.
The technology also may have applications for food and medical industries after further testing and research, Smith said.
To reach this Plain Dealer reporter: mvanac@plaind.com, 216-999-5302