Hamburg, Germany-based deeptech startup MuRay has secured €7.1 million in combined private investment and public funding to advance its Active Muon Imaging technology and prepare its industrial inspection services for commercial deployment.
The financing comprises a €3.5 million private investment round led by First Momentum Ventures and co-led by Caelora, a wholly owned subsidiary of Marvel Fusion. Other investors include Superangel, Mätch VC, Arcas VC, Tiny VC and existing investor Nordic Science Investments.
MuRay also secured €3.6 million in non-dilutive public funding, including a grant under the European Union’s Horizon Europe programme.
Founded in 2025 by Dr. Andi Hektor and Dr. Kristjan Põder, who serve as co-CEOs, MuRay develops particle-based imaging systems designed to examine the internal structures of dense industrial materials without damaging them.
Its technology combines controlled muon beams, advanced particle detectors and AI-based image reconstruction to produce three-dimensional images of metals, ceramics and composite materials.
The startup initially focuses on quality and safety inspections of industrial components, including 3D-printed rocket engines, gas turbines and jet engines. Its technology is intended to address inspection challenges involving thick materials that conventional X-ray systems struggle to penetrate.
MuRay is also exploring applications in aerospace, defence, energy and security, including cargo screening and the detection of nuclear materials.
The new financing will support further technology development, commercialisation and engineering recruitment. The company is also developing a mobile imaging system approximately the size of a shipping container for inspections at industrial sites.
MuRay plans to introduce its first industrial imaging service in 2027, using DESY’s existing electron beam infrastructure in Hamburg alongside its own imaging components. Its first full-scale system incorporating a laser-driven accelerator is planned for 2029.
The company has also worked with the German Aerospace Center (DLR) on modelling rocket engine inspections, with an initial real-world assessment planned for 2027.
MuRay operates from Hamburg, Germany, and maintains a presence in Tallinn, Estonia. The startup previously announced a €325,000 initial investment round in November 2025, led by Nordic Science Investments.
