Arktis closes USD 2.9million financing round

New and existing investors participated in a financing round worth $ 2.9 million, demonstrating confidence in Arktis’ products and business perspectives. The investment will allow the young award-winning Swiss company to further strengthen the market presence of its cutting-edge radiation detection systems.

“We were able to convince reference customers and opinion leaders. They have witnessed the superior performance offered by systems built on our FLASH* technology,” states Arktis CEO, Rico Chandra. “This financing round is yet another step confirming the high market potential of our technology. We now have the means to accelerate.” Arktis is already servicing several customers, recently signing important new contracts with organizations in the US and Europe.

This financing round was led by new investor Bright Technologies Fund (BTF), a private equity fund based in Lichtenstein.  “Arktis is an impressive company led by a competent and determined team. They have demonstrated the benefit of Arktis’ patented technology, setting them apart from the rest of the field. The market potential is very high”, says Enrico Braglia, CEO at Onelife Advisors SA, BTF’s key advisor for this investment. The fund aligns its investment in high-tech companies with significant market potential.

Arktis Radiation Detectors Ltd is a spin-off of ETH Zurich, a leading European university for science and technology. Arktis specializes in radiation detection for the interdiction of illicit radiological materials and other nuclear safety applications. Launched by a development team of CERN alumni, Arktis' proprietary systems and radiation detection technology provide unique capabilities to discover well-shielded nuclear materials (e.g. Uranium, Plutonium).

Arktis has active proposals currently being evaluated by US and European Government Agencies and has achieved US market entry. Since its inception in 2007, Arktis has won some of the most prestigious Swiss entrepreneurial awards, receiving recognition from corporations and organizations such as McKinsey & Co, Zurich Kantonalbank, DeVigier and the International Institute for Management Development (IMD). The company has thirteen employees and is headquartered in Zurich, Switzerland.