27/11/2024 09:53
EMBIO Diagnostics, a leading and innovative Cypriot company in the deep technology (deep tech) sector, has recently completed a new €2.5 million funding round. The funding was secured through the Foundation for Research and Innovation's “DISRUPT” program.
Founded in 2016, EMBIO Diagnostics specializes in developing technologically advanced devices for rapid detection in food safety, air quality testing, and environmental research. It promotes solutions linked to environmental sustainability. Among its groundbreaking products is airbeld™, an innovative diagnostic tool that combines real-time data collection, precision, and ease of use for monitoring air quality.
The Seed Plus funding round includes €1 million from the “DISRUPT” program and €1.5 million from private investments led by Kinisis Ventures. The “DISRUPT” program is an initiative under the Cyprus Recovery and Resilience Plan “Cyprus Tomorrow,” and it is the first of its kind in Cyprus, blending public funding with private equity to support the exponential growth of businesses in international markets.
The new funds will enhance EMBIO Diagnostics’ international presence, focusing on expanding into the Middle East and US markets. They will also support the company’s export strategy, which has extended to more than ten countries since 2023.
Constantinos Loizou, CEO of EMBIO Diagnostics, stated: “The trust shown by investors, both from the private and public sectors, strengthens our vision to create innovative solutions that address the challenges of our time. Airbeld is just the beginning of a journey aiming for global recognition of EMBIO as a pioneer in the deep tech sector.”
EMBIO Diagnostics remains committed to innovation and environmental sustainability, and it is one of the most successful examples of the Cypriot startup ecosystem.
For more information about EMBIO Diagnostics and their innovations, please visit www.embiodiagnostics.eu.
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