Microcaps
Microcaps AG is a Swiss materials science company that commercializes a patented microfluidic encapsulation platform from ETH Zurich, producing alginate-based microcapsules used primarily as alcohol-free Perfume Pearls for luxury fragrance brands such as Guerlain, Xerjoff, Kajal, and La Prairie.
- Company typePrivate
- Founded2019
- HeadquartersZürich, Switzerland
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Microcaps does
Microcaps AG is a Swiss private company that develops and commercializes a patented microfluidic encapsulation platform originally created at ETH Zurich's Complex Materials Group. The technology uses a step-emulsification process to produce alginate-based microcapsules with controlled size, shell composition, and release profiles, encapsulated in three core formats: OlioCaps (core-shell capsules with a liquid oil core for hydrophobic actives), ThermoCaps (solid wax/lipid matrix beads with adjustable melting profiles), and HydroCaps (gelled hydrogel matrix beads for sustained release). Application areas span fine fragrance, skincare/body mist, nutrition, and pharmaceuticals.
The company's flagship commercial application is Perfume Pearls, an alcohol-free, water-based fine fragrance system in which fragrance oils are encapsulated inside alginate micro-pearls suspended in an aqueous matrix. Microcaps produces the encapsulated material at its Swiss facility (Schlieren headquarters and Worben manufacturing site with four EOS-series production lines, ~100 kg/day capacity) and supplies brands in bulk for filling and packaging. Customers are enterprise brands in luxury and niche fragrance (Guerlain, Xerjoff, Kajal Perfumes Paris) and premium skincare (La Prairie), with Swiss fragrance house LUZI AG as a co-development partner for off-the-shelf scent formulations.
Revenue is generated primarily through contract encapsulation services and custom formulation development, supplemented by a Ready-to-Use Fine Fragrance Collection (minimum 200kg per scent) launched in late 2025. Pricing is quote-based and not publicly disclosed. Go-to-market is direct enterprise sales to brand R&D and marketing teams, supported by participation in industry events (inCosmetics Global, World Perfumery Congress), earned media (British Vogue, Forbes Austria), and content marketing across LinkedIn, YouTube, TikTok, and Instagram. The company is co-led by Science & Technology Co-CEO Dr. Alessandro Ofner and Commercial Co-CEO Michael Hagander, with a Board chaired by Rudy Niquille, and is backed by Helvetica Capital AG, Zürcher Kantonalbank, and the ETH Foundation following a CHF 9.3 million Series A in June 2024.
Microcaps firmographics
Firmographics- Name
- Microcaps
- Legal name
- Microcaps AG
- Website
- https://microcaps.ch
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Microcaps AG is a Swiss materials science company that commercializes a patented microfluidic encapsulation platform from ETH Zurich, producing alginate-based microcapsules used primarily as alcohol-free Perfume Pearls for luxury fragrance brands such as Guerlain, Xerjoff, Kajal, and La Prairie.
- Ownership category
- akta.pro rank
Microcaps industry classification
Industry- Product category
- Specialty Microencapsulation Manufacturing
- NAICS
- Paint, Coating, and Adhesive Manufacturing (3255), Soap and Cleaning Compound Manufacturing (32561)
- SIC
- Perfumes, Cosmetics & Other Toilet Preparations (2844)
- akta.pro primary industry
- Delivery Systems & Encapsulation (Microencapsulation, Liposomes, Emulsions, Beadlets, Spray-Dried) (AFAJAKAL)
- akta.pro secondary industries
- Flavor Encapsulation & Delivery Systems (Spray-Dried, Emulsions, Encapsulates) (AFAJADAJ), Lipid-Based Emulsions & Encapsulated Oils (Spray-Dried Oils, Microencapsulation) (AFAJALAM)
Keywords
Where Microcaps is headquartered
LocationHeadquarters
- HQ city
- Zürich
- HQ country
- Switzerland
- HQ region
- Europe
Offices2 records
Markets served
Microcaps business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Operations, Personnel, Supply Chain, Marketing or Sales, Infrastructure
Revenue model
- Contract Manufacturing - Encapsulation Services: Microcaps encapsulates customer fragrance oils into Perfume Pearls at their Swiss production facility. Brands receive bulk encapsulated material for filling and packaging. Primary revenue stream evidenced by Guerlain, Xerjoff, Kajal customer stories.
- Ready-to-Use Fragrance Collection: Pre-formulated fragrance collection (Irresistible, Vacation Time, Big Cloud) available for brands to launch quickly. Minimum order quantity of 200kg. Shorter lead times and lower development effort.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Ready-to-Use Fine Fragrance Collection - 200kg minimum order quantity |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
Microcaps product offering
Product offeringCore offering
Microcaps encapsulates customer-supplied fragrance oils into alginate-based Perfume Pearls using patented microfluidic step-emulsification technology, producing alcohol-free, water-based fine fragrances and body care products. The company also offers a portfolio of capsule technologies (OlioCaps, ThermoCaps, HydroCaps) for cosmetics, nutrition, and pharmaceutical applications, and supplies ready-to-use pre-formulated fragrance collections for faster brand commercialization.
Product overview
Microcaps offers a microfluidic encapsulation platform with three main capsule technologies (OlioCaps, ThermoCaps, HydroCaps) serving cosmetics, food, and pharmaceutical industries. The core consumer product is Perfume Pearls™, an alcohol-free fine fragrance system where fragrance oils are encapsulated in alginate-based micro-pearls. Additional cosmetics include Lumi Pearls skin serum and Ingestible Beauty Serum. The Ready to Use Fine Fragrance Collection provides three pre-formulated scents for faster market entry. Manufacturing is enabled by EOS-series industrial production plants protected by 11 patents.
Differentiator
Problem solved
Functional benefit
Brands
- Perfume Pearls: Water-based, ethanol-free fine fragrance capsules using patented microfluidic technology with alginate shells.
- Lumi Pearls
- HydroCaps
- ThermoCaps
- OlioCaps
Products and services
- Perfume Pearls™ Patented microfluidic encapsulation technology that transforms fine fragrance oils into alginate-based micro-pearls suspended in a water-based system, producing alcohol-free perfumes with visible capsules that burst upon application. Targets luxury and niche fragrance brands seeking differentiated alcohol-free product formats.
- OlioCaps Micrometer-sized core-shell capsules (300-3000 micrometers in hydrated state) with a liquid oil core surrounded by a solid calcium alginate hydrogel shell, suitable for encapsulating hydrophobic active ingredients for cosmetics, food, nutraceuticals, and probiotics. Features adjustable burst release profile.
- ThermoCaps Solid wax/lipid matrix beads (150-2500 micrometers) for encapsulating oil- or water-soluble actives and fine powders, with adjustable melting profile and per-bead payload.
- HydroCaps Gelled hydrogel matrix beads (120-3000 micrometers) composed of gelled biopolymers, suitable for encapsulating both lipophilic and hydrophilic ingredients with adjustable sustained release properties.
- Ready-to-Use Fine Fragrance Collection Three pre-formulated fine fragrance scents (Irresistible, Vacation Time, Big Cloud) optimized for the Perfume Pearls format, available in EdP or body mist intensities with a 200kg minimum order quantity for accelerated brand market entry.
- Alcohol-Free Body Mist Water-based alcohol-free body mist powered by Perfume Pearls technology, formulated without ethanol, VOCs, or emulsifiers, suitable for skin and hair application.
- Lumi Pearls Skin Serum Capsule-based skin serum that protects active ingredients with a luxurious visual appearance, based on natural alginate formulation for premium cosmetics brands.
- Ingestible Beauty Serum Capsule-based edible serum designed to enhance skin glow both topically and from within via ingestible beauty applications.
- notCaviar Kelp-based core-shell microcapsules serving as a vegan caviar alternative developed with chef Pietro Catalano, showcasing Microcaps' encapsulation technology for food applications.
Quantifiable outcome
- Over 92% of surveyed perfumeries believe water-based perfume technology will be successful; 100% would like to see products on shelves
- +3 more outcomes
Companies that use Microcaps
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles4 records
Microcaps technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Microcaps partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered major, flagship, core and minor.
- Aptar BeautymajorCollaborated with Microcaps on Guerlain Aqua Allegoria Perle project. Aptar's Applied Sciences team in Le Neubourg, France proactively invested in R&D for innovative fragrance formulas.
- GuerlainflagshipLuxury fragrance house using Microcaps' Perfume Pearls technology for Aqua Allegoria Perle collection. Strategic partnership marks inflection point for alcohol-free fine fragrance adoption in luxury market.
- XerjoffcoreNiche luxury perfume brand launched Newcleus, their first ethanol-free perfume using Microcaps Perfume Pearls technology. Collaboration demonstrates water-based formats can exceed conventional performance.
- Kajal Perfumes PariscoreFirst-ever ethanol-free fine fragrance (Lamar Caviar) using Microcaps Perfume Pearls technology. Collaborative partnership with LUZI for fragrance composition.
- LUZI AGcoreSwiss fragrance house co-creating ready-to-use fine fragrance collection (Irresistible, Vacation Time, Big Cloud) with Microcaps. Provides fragrance formulation expertise for Perfume Pearls delivery system.
- Andreas WilhelmminorMaster perfumer who worked closely with Microcaps and Xerjoff to develop Newcleus fragrance specifically optimized for Perfume Pearls delivery system.
- La PrairiecorePremium skincare brand using Microcaps' capsule technology for Skin Caviar Harmony L'Extrait serum. Demonstrates technology applicability beyond fragrance.
- GivaudanminorFeatured in Swiss Food & Nutrition Valley collaboration. Givaudan collaborates with Microcaps on microencapsulation applications in food and nutrition sector.
Scale indicators6 records
Recent moves7 records
Expansion highlights7 records
Microcaps competitors and assessment
Company assessmentBroad incumbents
- Mane: French family-owned flavor and fragrance house with proprietary encapsulation and delivery technologies serving luxury and consumer beauty brands. Comparable as an established fragrance industry player investing in innovative delivery formats.
- Symrise: Global flavor and fragrance major with established encapsulation technology for food, beverage, and personal care applications. Comparable to Microcaps as a multi-vertical encapsulation platform, though operating at vastly larger scale across diverse end markets.
- Givaudan: World's largest fragrance and flavor company and an existing Microcaps partner in food/nutrition applications. Operates its own encapsulation technologies at industrial scale and serves the same luxury fragrance customers that Microcaps targets.
- International Flavors & Fragrances (IFF): Major flavor and fragrance house with extensive encapsulation capabilities for food, beverage, and personal care. Comparable as a broad-line incumbent pursuing similar ingredient delivery innovation across multiple consumer categories.
- dsm-firmenich: Combined specialty nutrition and fragrance giant (post 2023 merger) with deep encapsulation IP in vitamins, flavors, and fragrances. Direct comparable to Microcaps' multi-vertical platform strategy at much larger scale.
Direct peers
- Aveka: Contract microencapsulation service provider offering custom particle engineering for food, beverage, and personal care customers. Closest direct comparable to Microcaps' contract manufacturing business model serving brand customers with bespoke encapsulation solutions.
- Encapsys: Specialty encapsulation company (formerly part of Kraton) producing microencapsulated ingredients for fragrances, personal care, and household products. Comparable technology provider serving similar downstream customers in beauty and home care.
- Sensient Technologies: Specialty ingredients company producing colors, flavors, and fragrances with proprietary encapsulation and delivery systems for cosmetics, food, and pharmaceutical applications. Comparable encapsulation technology stack targeting similar end markets.
- Microtek Laboratories: Specialty microencapsulation company producing custom encapsulated ingredients for fragrances, flavors, and personal care. Closest direct competitor in contract microencapsulation services with similar customer profiles in the fragrance industry.
- Balchem: Specialty ingredients company with proprietary encapsulation technology (including choline and mineral encapsulation) serving food, nutrition, and pharmaceutical applications. Comparable technology platform with industrial-scale encapsulation manufacturing.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Microcaps social profiles
Digital presenceMicrocaps compliance and trust
Trust signalCompliance1 record
Microcaps financial estimates
Financial estimateRevenue estimate
Valuation estimate
Microcaps leadership team
Management profileNumber of profiles
Profiles5 records
Microcaps funding detail
Funding detailFunding overview
Funding rounds7 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Microcaps M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Microcaps
What does Microcaps do?
Microcaps encapsulates customer-supplied fragrance oils into alginate-based Perfume Pearls using patented microfluidic step-emulsification technology, producing alcohol-free, water-based fine fragrances and body care products. The company also offers a portfolio of capsule technologies (OlioCaps, ThermoCaps, HydroCaps) for cosmetics, nutrition, and pharmaceutical applications, and supplies ready-to-use pre-formulated fragrance collections for faster brand commercialization.
Is Microcaps a public or private company?
Microcaps is a private company. It is classified as venture growth investor backed and is currently operating.
When was Microcaps founded?
Microcaps was founded in 2019. It employs 11 to 50 people.
Where is Microcaps based?
Microcaps is headquartered in Zürich, Switzerland, in the Europe region.
How does Microcaps make money?
Two revenue lines are on record. Contract Manufacturing - Encapsulation Services are the primary driver. The others are ready-to-Use Fragrance Collection.
Who are Microcaps's main competitors?
Broad incumbents on record are Mane, Symrise, Givaudan, International Flavors & Fragrances (IFF) and dsm-firmenich. Direct peers are Aveka, Encapsys, Sensient Technologies, Microtek Laboratories and Balchem.
Does Microcaps have an API?
No public API is recorded for Microcaps.
What industry is Microcaps in?
Microcaps's product category is Specialty Microencapsulation Manufacturing. Its primary akta.pro industry code is AFAJAKAL, Delivery Systems & Encapsulation (Microencapsulation, Liposomes, Emulsions, Beadlets, Spray-Dried), with a secondary code of AFAJADAJ, Flavor Encapsulation & Delivery Systems (Spray-Dried, Emulsions, Encapsulates). Its NAICS code is 3255 and its SIC code is 2844.