MuRay, EUR 7.1M with more public than private money
MuRay Tech says it has raised €7.1 million, and the public part is the larger: €3.6 million in public funding against a €3.5 million private round, according to the company and Tech.eu on 29 October 2026. The public money includes a grant from the EU's Horizon Europe programme. The sources give neither the size of that grant nor the other public funders, and do not say whether the €325,000 first round of November 2025 is part of the €3.5 million.
The private round was led by First Momentum Ventures and co-led by Caelora, a laser company. Superangel, Mätch VC, Arcas VC and Tiny VC also took part, alongside existing investor Nordic Science Investments. The Hamburg company came out of stealth on 4 November 2025 with a €325,000 first round.
According to TNW, MuRay Tech grew out of DESY, the particle physics centre in Hamburg, where co-founder Kristjan Põder led work on laser-plasma accelerators. It uses a controlled beam of muons to image dense metal parts such as 3D-printed rocket engines and gas turbine components. Co-founder Andi Hektor says: "X-rays reach their limit at a few centimetres of steel, yet much of modern industry, from reusable rockets to gas turbines, is built from metal far thicker than that."
The limits: the penetration, speed and radiation claims are the company's own. With the German Space Agency at German Aerospace Center (DLR) the company has modelled a rocket engine inspection, and it plans its first real-world assessment in 2027. The sources do not name the round's stage, a valuation or revenue.
What the money pays for: further technology development and commercialisation, including a mobile imaging system about the size of a shipping container for inspections at industrial sites. The company plans its first imaging service for industrial customers in 2027, using DESY's existing electron beam in Hamburg, and a first full-scale system in 2029.