Embio Diagnostics secures €2.5 Million in new funding

14:38 - 15 November 2024

Companies

Embio Diagnostics, a Cypriot startup founded in 2016, has recently completed a new funding round of €2.5 million.

The company specialises in diagnostic technologies with a strong emphasis on environmental sustainability. Headquartered in Nicosia, Embio develops advanced devices for rapid detection in food safety, air quality testing, and environmental research.

Strategic Shift and Innovations

As CEO Konstantinos Loizou explained to Capital.gr, Embio initially focused on detecting pesticides in food. However, the challenges posed by limited innovation margins in that sector prompted the company to strategically pivot. It now emphasises applications with greater impact, such as detecting salmonella and listeria.

Expansion and Funding

Recognising the importance of rapid detection and linking air quality with data, Embio has implemented an aggressive expansion strategy. The company has secured significant clients in Greece and Cyprus. In 2021, it raised €1 million in a seed funding round led by Asbis Enterprises. Recently, it completed a seed-plus funding round of €2.5 million, spearheaded by Kinisis Ventures with participation from a prominent Greek athlete as a private investor.

According to Loizou, the new funds will be used to promote the company’s product portfolio internationally. Since 2023, Embio has achieved steady export growth, selling its products in over ten countries.

Read also: EMBIO Diagnostics acquires clean-tech AG Catalytic Solutions

Embio Diagnostics secures €2.5 Million in new funding

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