CyRIC

Name

CyRIC

Legal name

Cyprus Research and Innovation Centre Ltd

Website

https://cyric.eu

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

IoT and R&D Engineering Services

NAICS

Computer Systems Design Services (541512), Computer Systems Design and Related Services (5415), Computer Systems Design and Related Services (54151), Satellite Telecommunications (5174)

SIC

Services-Computer Integrated Systems Design (7373), Services-Computer Programming Services (7371)

akta.pro primary industry

Data Platform, BI & Analytics Integration (BPAEAAAI)

akta.pro secondary industries

AI/ML Solution Integration & MLOps Enablement (BPAEAAAJ), MLOps/LLMOps & Model Lifecycle Management Services (BPAEAHAH)

Keywords

• IoT solutions
• Research and innovation services
• LoRaWAN connectivity
• Photonics biosensing
• Venture incubation

Headquarters

HQ city

Nicosia

HQ country

Cyprus

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales, Supply Chain

Revenue model

1. EU Research Project Funding: Participation as coordinator and partner in European research projects including Horizon 2020, Horizon Europe, and Cyprus Research and Innovation Foundation (RIF) funded projects. Revenue generated through project coordination, research activities, and consortium participation.
2. R&D and Innovation Services: Provides engineering design and prototyping, electronics and communications, and software solutions. Services for customers in engineering design, prototyping, IoT, and automation systems.
3. IoT Solutions and Products: End-to-end IoT solutions and products through CyRIC IoT division. Includes LoRaWAN networks, sensors, gateways, and integration services. Revenue from product sales, connectivity services, and system deployments.
4. Consulting Services: Specialized consultancy services for startups and SMEs. Includes entrepreneurship services, Digital Innovation Hub services through CydiHub.
5. GRAVITY Incubator: Venture Building Incubator supporting startup ecosystem. €20 million target GRAVITY Fund for startup investments and support.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

CyRIC delivers end-to-end IoT solutions (LoRaWAN networks, sensors, gateways, and the OpteBOX smart parcel system), R&D and innovation services through EU-funded research project coordination, photonics biosensing and AI-based object detection products, and entrepreneurship support via the GRAVITY venture building incubator. Offerings span network design, hardware distribution, system integration, and ongoing connectivity services for municipalities, utilities, defense, logistics, and enterprise customers in Cyprus and Greece.

Differentiator

Problem solved

Functional benefit

Brands

• GRAVITY: Venture Building Incubator founded by CyRIC, located in Engomi, Nicosia. Created as an inspiring place where entrepreneurs can work, engage and create whilst enjoying high quality services and access to state-of-the-art technological equipment and infrastructure.
• CyRIC IoT

Products and services

• CyRIC IoT LoRaWAN Connectivity and Smart Water Metering Solution End-to-end LoRaWAN network deployment, smart metering, and connectivity services for water utilities and municipalities. Includes network design, gateway/sensor provisioning, integration with Wanesy Management Center, and ongoing connectivity operations. Deployed at scale for the Limassol Water Board (80,000+ meters) and piloted with the Nicosia Water Board.
• CyRIC IoT Distribution (Kerlink, Milesight, Enginko) Official distribution of LoRaWAN hardware and platforms for Cyprus and Greece: Kerlink Wirnet gateways and Wanesy Management Center; Milesight UG65/AM100/AM300/UC300/VS373/SG50 devices; Enginko MCF-LW12CO2E multi-parameter sensors. Provides local stock, presales, and integration support.
• OpteBOX Smart Mail and Parcel Collection System IoT-based smart mail and parcel collection system that uses state-of-the-art sensors and AI algorithms for advanced letter detection and route optimization. Targets postal and courier operators seeking to reduce costs and carbon footprint in the first-mile collection process.
• SAT-IoT Hub (Dual Satellite/LoRaWAN Device) Customizable dual-connectivity sense and control device that combines EchoStar Mobile satellite LoRa with public/private LoRaWAN terrestrial links. Housed in an IP67 industrial enclosure for real-time bidirectional wireless applications in remote or harsh environments.
• SoFiN Optical Fiber Sensing System Multi-parameter fiber optic sensing platform that detects strain, temperature, vibration, and acoustic events across critical telecom infrastructure. Developed as part of the EU-funded SoFiN (Software-enabled Fiber Optic Multisensing Network) project with NKT Photonics, ADTRAN, Technical University of Denmark, and FAU Erlangen-Nürnberg.
• SoFiN Predictive Monitoring Platform Software platform that turns optical fiber sensing data into actionable predictive-maintenance insights, enabling telecom infrastructure operators to reduce service disruptions and operational penalties.
• AEOLUS AI Object Detection System AI-driven, lightweight, edge-capable computer-vision object detection solution designed for low-power unmanned aerial surveillance in smart-city use cases such as traffic management, emergency response, and public safety monitoring. Co-developed with European University Cyprus.
• GRACED Plasmo-Photonic Bimodal Food Safety Sensor Ultra-compact plasmo-photonic bimodal sensor for farm-to-fork food quality and safety monitoring, with an integrated IoT node and a decision support system (sDSS) for actionable food-safety analytics.
• Smart Insole Boots for First Responders (Patented) Patented wearable insole technology that monitors first-responder safety and status in the field, validated under the INGENIOUS Horizon 2020 project during a full-scale exercise near Paris.
• LoRaWAN Early Forest Fire Detection System LoRaWAN-based environmental monitoring system that uses Milesight sensors and Kerlink gateways to provide early detection of forest fires. Deployed in Florina, Greece with Teleglobal Communications.
• RE-GreenVOCs Biochar Production System Pyrolysis-based system that converts woody waste into biochar for agricultural use, designed to reduce VOC emissions from manure. Developed under the RE-GreenVOCs project.
• R&D and Innovation Services Engineering design, prototyping, electronics, communications, and software services delivered to enterprise and public-sector customers, including coordination and technical execution of EU-funded research projects such as Horizon 2020, Horizon Europe, and RIF programmes.
• Consulting Services (including CydiHub) Specialized consulting and Digital Innovation Hub services for startups and SMEs, including entrepreneurship advisory and access to the DIH2 pan-European robotics network through the Cyprus Digital Innovation Hub (CyDIHub).
• GRAVITY Venture Building Incubator and Fund Venture-building incubator in Engomi, Nicosia, that supports startups from early-stage to mature venture, providing workspace, technological equipment, community events (Gravity Club), and access to a target €20 million GRAVITY Fund.

Quantifiable outcome

• 80,000+ smart water meters connected via LoRaWAN network
• +1 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability8 records

Feature5 records

Partnerships

14 partnerships are on record, tiered core, secondary and strategic.

• KerlinkcoreChannel Partner/ Reseller/ Distributor · 9 July 2020CyRIC IoT is Kerlink's official distributor for Cyprus. Partnership involves deployment of LoRaWAN networks using Wirnet outdoor and indoor gateways and Wanesy Management Center. Strategic partnership accelerating LoRaWAN adoption in Cyprus market.
• Milesight IoTcoreChannel Partner/ Reseller/ DistributorOfficial distributor of Milesight IoT products including UG65 Helium Hotspot, AM100/AM300 ambience monitoring sensors, UC300 controllers, VS373 fall detection sensors, and SG50 gateways for Cyprus and Greece markets.
• Enginko (mcf88)secondaryChannel Partner/ Reseller/ DistributorOfficial distributor of Enginko LoRaWAN environmental sensors including MCF-LW12CO2E multi-parameter sensor in Cyprus.
• INVIBITstrategicChannel Partner/ Reseller/ DistributorPartnership with INVIBIT (ISO certified company) to provide end-to-end LoRaWAN IoT solutions to the Greek Market, combining CyRIC's expertise with INVIBIT's integrated solutions for electronics and IT industry.
• NKT PhotonicscoreStrategic or Co-development PartnerConsortium partner in SoFiN (Software-enabled Fiber Optic Multisensing Network) EU-funded project for development of advanced optical fiber interrogator capable of multi-parameter sensing.
• ADTRANcoreStrategic or Co-development PartnerConsortium partner in SoFiN EU-funded project developing optical fiber sensing technology for telecom infrastructure monitoring.
• Technical University of DenmarkcoreStrategic or Co-development PartnerAcademic consortium partner in SoFiN project contributing research expertise in fiber optic sensing technologies.
• Friedrich-Alexander-Universität Erlangen-NürnbergcoreStrategic or Co-development PartnerConsortium partner in SoFiN EU-funded optical fiber sensing project with research capabilities in relevant technology areas.
• European University CypruscoreStrategic or Co-development PartnerCollaboration partner in AEOLUS project (€X funded by Research and Innovation Foundation). EUC and CyRIC collaborating on AI-driven object detection for UAVs and smart city applications.
• LUT University FinlandstrategicStrategic or Co-development PartnerHosting researchers from LUT University for secondments in COALESCE project. Collaboration on MIMO networks, wireless communication, and drone technology research with joint publications.
• IRIDA Research Center - University of CypruscoreStrategic or Co-development PartnerLocal academic partner in COALESCE project collaboration, working with CyRIC team on waveform datasets and wireless communication research.
• INGENIOUS Project ConsortiumcoreStrategic or Co-development PartnerParticipation in INGENIOUS Horizon 2020 project for field validation of Smart Insole Boots. Full-scale exercise organized by SAMU near Paris with European first responders.
• GRACED Project ConsortiumcoreStrategic or Co-development Partner14-partner consortium from 8 European countries developing plasmo-photonic bimodal sensor for food safety. CyRIC coordinates project and develops processing unit and hydraulics module.
• DIH2 NetworkstrategicStrategic or Co-development PartnerPan-European network of 26 robotics Digital Innovation Hubs. CyRIC coordinates Cyprus Digital Innovation Hub (CyDIHub) and participates in Transfer Technology Experiments.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Actility: Actility is a leading LoRaWAN network and IoT connectivity platform provider. CyRIC competes at the network/integration layer in the same LoRaWAN ecosystem where Actility's ThingPark platform is dominant, deploying operator-grade IoT networks for utilities and municipalities.
• Kerlink: Kerlink manufactures LoRaWAN gateways and network management software and is a CyRIC distribution partner. It is included as a peer because it competes head-on with CyRIC in tendering for IoT network deployments in municipalities and utilities, even though the relationship is also commercial.
• Worldsensing: Worldsensing provides industrial IoT monitoring for infrastructure, mining, and smart cities using LoRa and wireless sensor networks. Direct comparable because it targets the same municipal/utilities customer base with end-to-end connectivity-plus-sensor solutions in Europe.

Broad incumbents

• Tyndall National Institute: Tyndall is Ireland's national microelectronics and photonics research institute. Comparable as a publicly-funded, applied-research centre that converts deep-tech (photonics, IoT, semiconductor) IP into commercial spinouts and EU consortium wins — analogous to how CyRIC operates in Cyprus.
• Fraunhofer Institute (selected units e.g. IOSB, IPT): Fraunhofer is Europe's largest applied-research organisation, running contract R&D and EU project participation across IoT, photonics, and AI. It is the gold-standard analogue to CyRIC's contract-research-plus-innovation-hub model at much larger scale.
• Digital Catapult: Digital Catapult is the UK's flagship advanced digital technology innovation centre, operating incubators, accelerator programs, and EU consortium projects. Directly comparable to the CyDIHub / GRAVITY side of CyRIC's business as a publicly-supported deep-tech innovation hub.
• Sigfox (now part of UnaBiz): UnaBiz/Sigfox is a global 0G/LPWAN IoT network operator comparable to CyRIC's IoT division in low-power wide-area network deployments for utilities and supply chain — albeit at much larger international scale.

Regional players

• Science [&] Technology Greece / NCSR Demokritos: NCSR Demokritos is a Greek national research centre active in IoT, robotics, AI, and photonics — heavily overlapping with CyRIC's technology stack and operating in the same Eastern Mediterranean EU-research ecosystem.

Others

• Smartify / Fixably: Listed here as a placeholder for specialised parcel/logistics IoT solution vendors; CyRIC's OpteBOX product competes in the same smart mailbox / first-mile optimisation segment for postal and courier operators.

Emerging players

• ORamaVR: ORamaVR is a Greek deep-tech startup that graduated from Greek and EU innovation programs with advanced R&D. Comparable because it represents the type of early-stage venture that CyRIC's GRAVITY incubator and CyDIHub aim to nurture and grow within the same regional ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Cy_RIC
• Facebookfacebook.com/cyric.eu
• LinkedInlinkedin.com/company/cyric-cyprus-research-&-innovation-center-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CyRIC