This young startup is taking on a fragrance industry that hasn’t changed in a almost half century

Fragrance tech company Patina says it has raised $2 million in funding investors, including Betaworks and True Ventures.  The company focuses on creating new scent molecules using advanced molecular design, machine learning, and scent research. Today, most of the scent molecules used in consumer products are created by a small number of specialized labs, which then sell those molecules to fragrance houses or cosmetics companies — the brands that ultimately turn them into perfumes, candles, or flavored products. Patina is trying to shake that up, entering an area that has seen little innovation in the past half century.