Nordic Science Investments leads mu-ray.tech's €325K funding round
mu-ray.tech, a deeptech startup specialising in muon tomography, has closed its €325,000 initial investment round, led by Nordic Science Investments, to commercialise disruptive Muon Beam Imaging (MBI) technology.
The investment was led by Mart Maasik and Matti Hautsalo at Nordic Science Investments, with participation from Toomas Bergmann at Peaksjah and Swiss CERN angel investor Michele Battistin. The startup also received support from the Estonian Business and Innovation Agency. The funding will fuel the company's mission to deliver safer, penetrative 3D imaging capabilities with the power to identify the chemical composition of imaged materials.
Mart Maasik, Partner at Nordic Science Investments, commented: "Kristjan Põder and Andi Hektor possess a unique combination of scientific expertise and business acumen. As a deeptech investor, we are excited by mu-ray.tech's unique combination of world-class competence, bringing together AI, advanced sensors, high-power photonics, and particle physics with proven commercial expertise."
MBI uses advanced Laser Plasma Accelerator technology, positioning it as a potential game-changer across industries such as defense, aerospace, and automotive. It also aims to improve the safety of medical imaging, particularly for sensitive patient groups such as children and pregnant individuals. Additionally, MBI focuses on early cancer diagnosis through analysis of chemical element buildup, specifically calcium, iron, and iodine.
"Muon radiation allows us to identify the composition of materials, creating completely new opportunities in the aerospace, automotive, defence industries, and in the long term, medical imaging. It will be the next revolution in the imaging domain after Computer Tomography (CT), Magnetic Resonance Imaging (MRI), and Positron Emission Tomography (PET)," noted co-founder Kristjan Põder.
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