Cyprus's Radiacode raises €2.5M to push pocket radiation detectors into pro markets
What's the deal? Radiacode, a Cyprus-based maker of compact radiation detectors, has raised €2.5 million in an early-stage round to fund new devices and international expansion. The package combines a €1 million equity investment from a local venture capital fund with a €1.5 million grant from Cyprus's Research and Innovation Foundation.
How it works: The funding came through the foundation's Disrupt programme, which pairs public money with venture capital to help Cypriot startups scale. The €1 million equity cheque unlocked the larger grant.
What's the endgame? Founded in 2022, Radiacode builds pocket-sized detectors that pair sensors with software, letting smartphone users measure radiation, study its spectra, and plot readings on a map. The company sells abroad, including in the US, and is using the money to expand in-house R&D and manufacturing in Cyprus, broaden its software ecosystem, and push overseas sales.
The product: The investment helped Radiacode accelerate its next product line. It launched the Radiacode 110, a pocket detector and spectrometer, in 2025, followed by the Radiacode Zero in 2026 — a detector and dosimeter using tissue-equivalent technology that measures radiation closer to how it affects the human body.
Why now? The company is moving beyond consumer devices toward professional applications, where it competes with established suppliers such as Mirion and Thermo Fisher across dosimetry and radiation monitoring. Portable, connected devices give smaller firms a potential niche.
The signal: The round is a test of public-private funding as a route to scale deep-tech hardware from a small market. For Cyprus, it is a bet on building domestic manufacturing and professional-grade capacity rather than evidence of a wider industry shift.
Read more: kiprinform.com
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