Every month we announce a new startup at Fundsup that forces a radical breakthrough. This week we chat with Joost van der Griendt, Co-Founder of Dynaxion.
Hi Joost, what exactly are you doing?
We are a deeptech startup that grew out of high-tech XL and we are located on the high-tech campus in Eindhoven. At the moment there are six of us, we are an experienced and international team. We are developing a scanning system that can look ‘down to atomic level’. Think of explosives and drugs in suitcases and packages. With this solution we beat the existing scanning technology based on X-ray. Where current technology cannot distinguish milk powder from cocaine, for example, we will soon be able to do so.
Where do you see its main application?
Of course you think directly of airports and border control, but the potential is many times greater. The regulations for sending parcels will be radically tightened up in the coming years because many banned substances are being sent that cannot currently be controlled using existing technology. In the US, combating addiction to drugs such as Fentanyl (opioids) is a government priority and these are often illegally ordered over the internet and delivered by mail. Our technology allows exact control of the contents of packages without opening them.
Is this why Dynaxion is mentioned on the White House website?
Yeah, that’s right. The White House has set up an opioid detection contest and we’re one of the eight finalists.
Where are you at right now?
We’re still at an early stage. With simulations we have shown in parts that our technology works. And the roadmap has been determined. After the next test round we will have proof of concept. This is expected to be completed by the end of the year. Then a prototype can be developed.
When are you planning to go to market?
This will be in 2023 – 2024.
Who has invested in you and what kind of investors are you looking for?
The Brabant Startup Fund was our first investor and we’ve applied for early stage funding from the government until the end of the year. We are looking for a seed investment of six hundred thousand euros to go from proof of concept to investor readiness (series A).
What would be the ideal match?
That would undoubtedly be one or two informals who are inspired by what we do and who want to contribute to generating impact in health and safety. Deep technological knowledge is not a must for us, the click is. And then, of course, the larger VCs for a series A round in 2021.
Best of luck!
Thanks. Check out our pitch deck on Fundsup: https://api.fundsup.co/go/BI73kqPgI_