5 Exciting And Innovative Malta Start-Ups In Tech Industry
Ram Tumuluri ”Malta’s tech ecosystem has grown significantly in recent years as a result of research and innovation and government support. Here’s a look at a few fresh tech startup companies in Malta to watch in 2021”.
BrainTrip
BrainTrip, a startup established in 2019, has created an algorithm that identifies mental impairments including dementia. This electroencephalogram (EEG)-based algorithm is used as a screening tool in elderly care facilities. It takes just a few minutes and is totally non-invasive. Medical dementia workups are costly and invasive, so BrainTrip aids patients and doctors in determining if those treatments are worthwhile. The company has been nominated for the Global Startup Awards since winning the Best Newcomer and Startup of the Year categories at the South Europe Startup Awards.
Colibra
Colibra, which was established in 2018, compensates users for every hour of flight delay – a service that has grown in popularity as a result of recent pandemic-related travel disruptions. Payments are collected within 24 hours of arrival and are applicable for any occasion, including bad weather or strikes. This company is one of many that take advantage of Malta’s strategic location, with headquarters on the island and offices around the world, including Sofia and Bulgaria.
VAIOT
This company was created in 2018 and provides AI assistants by integrating AI and blockchain technologies. What exactly do these assistants do? They can serve as creative distribution outlets as well as legal assistants. In September 2020, their team received around €5 million in funding, which they intend to use to serve the car insurance industry first, before moving on to other industries.
Elrond
Founded in 2017, Elrond is one of the country’s most well-funded startups. They provide anybody, anywhere with easy access to the digital economy by bringing a 1000x increase in blockchain speed, scale and cost.
STASIS
Based in St. Julians STASIS was founded in 2017 with the goal of assisting customers in legally digitising any type of financial asset in a safe and transparent manner. Tokenization, the method of representing real-world properties on the blockchain, is used to accomplish this. Their name has a story too. Stasis, pronounced ‘stey-sis,’ is a term that refers to the balance of different forces in order to achieve equilibrium.