Tallinn-based deep tech startup GScan has raised 1.4 million euros in a round led by AS Amalfi, Hansa Grupp OÜ and Sillever OÜ. The startup’s total valuation rises up to €18M with this investment. The startup’s expertise is based on particle physics applications that can be easily applied anywhere like security, border control, industry, and medicine. What is new about their technology? Well, they are offering safer solutions for living creatures when it comes to scanning. You will be seeing down below the effectiveness of using atmospheric rays which are called “natural”. The startup is working on the different sizes of the product so that they can be used for larger or much more smaller areas. Accordingly, the funding will speed up their projects.
Estonia-based GScan closes a €1.4M investment round to improve safety and efficiency in security and cargo scanning
GScan, a deep tech company that develops atmospheric ray 3D scanners for security and cargo scanning, is announcing a €1.4M investment round. The value of the company is exceeding €18M after the investment round. With this investment round the company completes the R&D and production site and delivers first industry prototypes by autumn 2022. The round was led by AS Amalfi, Hansa Grupp OÜ and Sillever OÜ.
Neeme Tammis, investor from Hansa Grupp, cited: “We made an investment, because of a strong team and a very promising and disruptive product.”
GScan is working with customs, defense agencies, security companies, universities, and research centers over the world to develop state-of-the-art atmospheric ray 3D scanners. The systems are autonomous, able to identify chemical composition of scanned objects, and they fit well within the existing infrastructures to enable quick adoption.
GScan technology is using natural atmospheric rays, tests have shown a 95+% efficiency in detecting hazardous materials. Atmospheric rays are the natural flux of particles originating from the upper atmosphere. Since atmospheric rays are natural, these are safe for scanning humans. They allow clients to avoid costly certifications, safety training of the operators and to implement fully automated scanner gates.
The developed hardware works with small parcel scanners to large truck and sea container scanners alike. It makes the product scalable beyond security and cargo scanning and applicable to many other industries in the future, such as construction industry and medicine. The new scanner technology can be applied in public space with no restrictions and it works through any shielding. Its AI-driven material and object recognition allows fully automated inspection flow.
Andi Hektor, a co-founder of GScan, commented: “The increased concerns on safety and smuggling have led us to focus on creating a safer future. Our scanners offer a harmless and automated solution against smuggling of weapons, explosives, illegal goods and people.
We can use our tech to see ‘through’ packages, vehicles and containers. Worrying about the after-war-zones in Ukraine, earthquakes or just aging ferro-concrete — we can inspect buildings and bridges to make sure their structure is safe and durable.”
As public safety has become a global priority, the European Commission signed an agreement with the University of Tartu, GScan, and several partners in May 2021 to support a joint international project SilentBorder with €7.5M. The project will run through 2025 and result in a large scanner for sea containers and trucks. From Jan 2022 GScan runs a project to build a small scanner system for parcels and smaller items. The extra support of €1.5M for this project comes from Enterprise Estonia.