Parthenon Capital Partners is a private equity firm that partners with and invests in management teams and their companies. It provides capital and strategic resources to growth companies in its three core sectors that include financial services, healthcare services, and business services.   Parthenon Capital Partners’ specialization and focus allows the firm to better understand key issues, risks, and opportunities and provide its clients with relevant resources and insights. Headquartered in Boston, Massachusetts, the firm was founded in 1998.

Parthenon Capital Partners

ScentAir

ScentAir Technologies, Inc. provides commercial scent solutions for hospitality, retail, healthcare, and entertainment industries globally. It offers scents and scent delivery systems, and in-store installation and services. The company’s solutions are used in various applications, such as advertising, gaming/casinos, hotels, retail, amusement parks, fitness centers, medical offices, resorts, apartments, funeral homes, military simulation, special events, assisted living, home builders, restaurants, and tradeshows. It offers its products through a network of distributors. ScentAir Technologies, Inc. was formerly known as Fragrance Technologies. The company was founded in 1994 and is based in Charlotte, North Carolina. ScentAir Technologies, Inc. has operations in Southeast Asia.

ScentAir is a leading provider of innovative scent solutions for commercial and residential spaces. The company offers a wide range of professional-quality fragrances and advanced diffusion systems to enhance customer experiences, reinforce brand values, and create memorable impressions. ScentAir's patented diffusers and fragrances deliver over five billion scent impressions annually across 119 countries, serving more than 50,000 brands worldwide.

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Unlocking the potential of olfaction through technology

Smell Tech

ScentAir Triumphs Again in Patent Battle Against Prolitec

ScentAir is a leading provider of innovative scent solutions for commercial and residential spaces. The company offers a wide range of professional-quality fragrances and advanced diffusion systems to enhance customer experiences, reinforce brand values, and create memorable impressions. ScentAir's patented diffusers and fragrances deliver over five billion scent impressions annually across 119 countries, serving more than 50,000 brands worldwide.
ScentAir's core offerings include scent diffusion systems like ScentAir Breeze, ScentDirect, and ScentStream Connect, designed for varying coverage areas and tailored to meet specific business needs. The company's extensive fragrance library features over 2,400 options, including the Original Hotel Collection inspired by luxury hotels and resorts, and the recently launched Sustainable Fragrances line, which utilizes essential oils, naturally derived, and upcycled ingredients.
In November 2023, ScentAir introduced its Original Hotel Collection for consumers, allowing customers to experience professional-quality fragrances inspired by beloved hotels and resorts in their homes. The company has also prioritized sustainability efforts, introducing recyclable cartridges and reducing shipments by over 1.2 million annually.
ScentAir was founded in 1994, inspired by a Disney Imagineer's idea to add scents to attractions. In June 2024, the company celebrated 30 years of scent marketing excellence, highlighting its commitment to innovation, safety standards, and environmental stewardship. ScentAir was acquired by a private equity firm in 2022.

OW Smell Digital is a technology company focused on digitizing the human sense of smell for various applications. Founded in 2019 by scientists Emanuela Maggioni and Marianna Obrist as a spinout from the University of Sussex and UCL, the company aims to revolutionize human-computer interaction by incorporating olfactory experiences.
OW Smell Digital's key offerings include a digitally controlled multi-channel Scent Delivery Device and an adaptive, AI-powered, cloud-based software platform. The hardware device has up to 24 individual odor channels, while the software leverages AI to predict the perceptual and behavioral effects of different scents on users. This twin system allows for precise control and delivery of scents to enhance sensory experiences.
The company's technology has applications across multiple domains, including healthcare research, immersive experiences, and innovative research. In healthcare, OW Smell Digital is collaborating with Rockefeller University to create a standardized smell-test toolkit for measuring olfactory capabilities. Additionally, it is working with UCL on SmellHealth, a project focused on developing affordable smell-delivery technologies and smell training tools.
In the realm of immersive experiences, OW Smell Digital has partnered with companies like British Airways, New Reality Co, and Picture This Productions to deliver multisensory virtual and augmented reality experiences. The company's work on the VR 'FLY' experience earned the 2020 Lumiere Award for Best VR Edutainment.
OW Smell Digital has raised GBP 1 million in seed funding led by Parkwalk Advisors in March 2022, which will be used to expand the team and further develop its hardware and software products.

OW Smell digital

OVR Technology has developed various products and platforms to deliver scents synchronized with virtual and augmented reality content. Their flagship offering is the ION 3, a wearable scent technology device that can produce thousands of unique scent combinations. The ION three cartridges containing specific scents are designed to be attached to VR/AR headsets, allowing users to experience multisensory content via mobile, desktop, AR, and VR applications.
The company has also created the INHALE three Wellness Platform, which provides immersive virtual nature experiences coupled with precisely timed scent releases. This platform includes features like scent mood orbs, new scents like waterfall and mountaintop, and optional mood-specific meditation tracks. The INHALE products are designed to promote relaxation, reduce stress, increase calm and focus, and support mental well-being.
OVR Technology manufactures its scents in-house at its laboratory in Burlington. The company has developed a wide range of scents, including pleasant aromas like lavender and rose, as well as more pungent odors like garbage and gunpowder for specialized training simulations.
In January 2023, OVR Technology showcased the ION three at CES 2023, highlighting its potential applications for enhancing immersion in the metaverse. The company's technology has been recognized with awards, including the AUREA Award for Excellence in Impact in 2022 and the 'Best In Show: VR' award at AWE US 2022.

OVR Technology

Aryballe Technologies is a French startup founded in 2014 that develops digital olfactory technology combining biochemistry, advanced optics, and machine learning to mimic the human sense of smell. Their core offering is the NeOse product line, a portable "digital nose" capable of detecting and identifying hundreds of odors by capturing odor signatures through biochemical nanosensors and advanced optics. This data is then analyzed by software solutions, helping users make informed decisions across various applications like quality control, R&D, manufacturing, and end-user experiences.
The NeOse technology works by using an optical microarray with 64 biochemical nanosensors (peptides) that capture volatile odorant molecules. The interference between a light source and the sensor-odor complexes is measured by photodetectors, generating unique visual imprints for each odor. Machine learning algorithms then identify these imprints by comparing them against an olfactory database. As of 2022, Aryballe had identified over 50 potential applications across industries like food and beverage, automotive, household appliances, healthcare, and environmental monitoring.
Aryballe's digital nose offers an objective, portable, and cost-effective alternative to traditional gas chromatography methods for odor analysis. The company's NeOse Advance product, launched in 2022, utilizes silicon photonics for improved performance. Aryballe aims to bring its technology to consumer markets eventually, enabling applications like automatically stopping ovens when food is cooked or activating range hoods before odors spread.

Aryballe Technologies

Olorama is a company that specializes in scent marketing technology. Their flagship product is a patented scent generator or smell synthesizer that can electronically release ultra-realistic scents at the desired moment and maintain them in the environment for a configurable duration. This technology aims to stimulate the sense of smell to influence customer behavior, reinforce brand identity, and enhance the overall experience.
Olorama's scent generators support up to 10 different scents simultaneously, with an extensive library of over 200 scent options, ranging from chocolate and coffee to natural scents like rain and forest. The scent generators do not rely on heating, ensuring that the scents remain pure and authentic without any quality loss.
The company's scent generators boast the fastest scent diffusion speed on the market, achieved through a powerful yet silent fan system. This rapid diffusion capability allows for precise timing and control over the olfactory experience.
Olorama's technology offers multiple control options, including voice control via iOS app, API integration, custom scent emission software synchronized with videos, and DMX control. This versatility enables seamless integration into various applications and environments.

Olorama Tecnology

Inhalio is a global leader in digital scent systems that enable corporations to deploy scent experiences across various markets through its Digital Scent 3.0 Platform. The company's technology utilizes a data-centric process involving precise scent infusion, molecular dry-air diffusion, and detailed customer insights. Inhalio's platform encompasses infusion techniques that ensure fragrance purity and longevity, multi-scent dry-air diffusers with cartridge authentication, user-friendly mobile apps, and cloud-based monitoring and data analytics.
Inhalio's offerings encompass a range of scent cartridges tailored for specific purposes. These include mood-mapped scents designed to promote calmness, invigoration, or alertness, air-sanitizing cartridges that eliminate airborne pathogens, odor elimination cartridges, and motion sickness relief cartridges. A notable application of Inhalio's technology is the NOMAD SD3, a sophisticated in-vehicle scent diffuser that fits into cup holders, allowing drivers and passengers to select desired fragrances via a mobile app.
Inhalio's digital scent platform finds applications in various sectors, including automotive (enhancing in-vehicle experiences for OEMs and rideshare services), connected homes (delivering fine fragrances), retail (enabling fragrance sampling and ambiance enhancement), and hospitality (deploying purpose-built scents in hotels and senior care facilities). In January 2022, Inhalio partnered with Lumileds, granting the latter exclusive rights to manufacture and distribute the NOMAD SD3 diffuser to automotive customers worldwide.
In January 2020, Inhalio merged with Exhalia, another digital scent company, to meet the growing demand across multiple markets. This merger combined the expertise and patented technologies of both companies, creating a comprehensive digital scent platform for mass-market distribution.

Inhalió

Companies engaged in developing scent diffusion systems

Companies engaged in and developing platforms and tools for odor detection and measurements as well as provide insights and analytics for health industry applications such as disease detection.

Companies engaged in developing platforms and tools for odor detection and measurement as well as provide insights and analytics for commercial sectors such as chemical, food & beverage, environment, and production.

Companies engaged in developing platforms, experiences, and wearable tech aimed at providing the customer a more involved and immersive experience, companies involved in scent marketing and scent branding as well as systems that specifically target virtual and augmented reality (eg. Metaverse) applications

Companies engaged in developing scents and infusions

Most companies in this hub deals with creating/delivering bespoke aromas for businesses

ScentAir

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