Malta, a small island in the Mediterranean region with 300 days of sunshine a year and a stunning and picturesque backdrop is world-famous for its natural beauty escapes. But at the same time, the tech ecosystem of the island nation has gradually developed a lot during the recent years due to factors such as a safe business environment and government support.
Malta scores particularly well in talent access, due to it highly educated English-speaking working population as well as due to it being very attractive to expat workers. Various initiatives have been undertaken by the government so as to incentivise fresh tech investment and the opening of new startup companies in Malta. Currently, Malta boasts between 50 and 100 tech startup companies. And, here we list some of the most funded Maltese startups for you as sourced from Dealroom.
VistaJet
Founders: Lori Hanlon, Thomas Flohr
Funding: €136 million
Valuation: $2.5 billion
Founded year: 2004
Why its hot: VistaJet is the first global aviation company that has flown government, corporate and private clients to over 187 countries across the world. The innovative business model lets customers access the entire fleet even before hours of flying. The signature Program membership of VistaJet lets customers request direct flights and mid-range and long-range jets via its end-to-end booking app 24/7.
Truevo Payments
Founders: Dave Liu
Funding: €6.6 million
Valuation: $13 million – $19 million
Founded year: 2013
Why its hot: Truevo Payments is a licensed payment service provider and financial institution. The company was founded initially as Swish Payments and was rebranded as Truevo Payments in 2017. It lets clients and partners enjoy the benefits of their payment needs. The payment service provider provides payment processing, gateway services, proprietary software and 24/7 transaction monitoring.
Auterra
Founders: Eric Burnett, Partha Dutta
Funding: €4 million
Valuation: $8 million – $13 million
Founded year: 2003
Why its hot: Auterra is a catalyst and process technology company that focuses on commercialising processes to meet the energy needs. It has a team of research scientists, process technologists and chemical engineers aimed at optimizing the performance of innovative process technologies. Auterra’s FlexUp technology is low-energy and low-cost desulfurization technology.
FRVR
Founders: Brian Meidell, Chris Benjaminsen
Funding: €2.7 million
Valuation: $12 million – $18 million
Founded year: 2014
Why its hot: FRVR is known for developing lightweight HTML5 games. One of its creations – Basketball FRVR has been played over 5.6 billion times. The game publisher startup has raised funding to expand its games to new platforms and markets and continue the growth of its team. FRVR creates games for both post-app store and chat platforms such as Messenger.
Hero Gaming
Founders: Georg Westin
Funding: €2 million
Valuation: €8 million – €12 million
Founded year: 2013
Why its hot: Hero Gaming was founded with the vision to redefine online casino and creating WOW experiences for customers. Hero Gaming owns and operates a multi-brand portfolio of diverse products including Betser, Speedy Casino, Casino Heroes and Speedy Bet. The company has a team of experts who are focused on delivering the world’s most enjoyable gaming experience.
ReaQta
Founders: Giovanni Caporaletti, Giuseppe Massaro, Serge Wee Shuo
Funding: €2 million
Founded year: 2014
Why its hot: ReaQta uses Artificial Intelligence to develop an innovative platform capable of detecting new and previously unknown cyber threats including simple ransomware and more complex in-memory attacks. The company uses machine learning to automate and speed up the detection and response process and minimize human interactions.
RefToken
Founders: Jan Sammut
Funding: €200k
Valuation: €400k – €600k
Founded year: 2017
Why its hot: Blockchain is a buzzword in the tech ecosystem right now. RefToken connects developers with marketers and brands and enables them to make their projects mainstream. Smart contracts establish a relationship between affiliates and brands and pave the way towards instant payments secured with blockchain. Tokens purchased by merchants will be held in escrow by RefToken to ensure that there are adequate funds to pay affiliates.
Bundle Network
Founders: Umut Şenol
Funding: €180k
Valuation: $400k – $600k
Founded year: 2017
Why its hot: Bundle Network is an online platform connected to exchanges. It lets investors buy and sell hundreds of different tokens traded at various platforms via one account instantly. Investors can buy all these tokens together or individually for the best possible price. It will serve as an online meeting point for cryptocurrency investors where they can share and discuss cryptocurrency trading topics.
Hawk Aerospace
CEO: Roger Archer
Funding: €170k
Founded year: 2004
Why its hot: Hawk Aerospace helps organisations improve their operations and security via engineered drones, electronic technology solutions and situational awareness. The company ensures systems are delivered and go live faster. The team at Hawk Aerospace ensures to take measurable business value from day one.
Sherpa
Founders: Chris Kaye, Greg McCafferty, Lachlan Gillies
Funding: €2.1 million
Valuation: $9 million – $14 million
Founded year: 2015
Why its hot: Sherpa is a disruptive insurance startup that shakes up the traditional insurance model. It is a trusted guide for consumers looking for insurance. The insuretech startup uses the customers’ data to help choose the right insurance coverage at the best possible price.
Stay tuned to Silicon Canals for more updates in the tech startup world.
Also read,
French AI startup DriveTrust raises €1.5M funding for a safer driving future
