Cyprus's Top 10 Startups That Tech Professionals Should Watch Out For in 2024

Looking for the latest updates? Check out the 2025 version of this article here.

Cyprus's tech scene is blowing up, and startups are leading the charge! By 2024, this tiny nation's startup world will be on fire, fueling major economic growth and creating mad job opportunities.

These startups are shaking things up with their cutting-edge solutions, disrupting old industries, and sparking a fresh wave of creativity.

To spotlight Cyprus's hottest startups in 2024, we looked at:

• Uniqueness: How unique their product/service is
• Scalability: If they can scale up and grow massively
• Team Strength: The strength of their founding team
• User Adoption: If people are actually using their stuff
• Funding: The funding they've raised and investor hype

The top 10 startups we're featuring don't just tick all those boxes – they're pioneering innovation across different sectors.

As tech peeps, keeping tabs on these game-changers is key. Their ground-breaking ideas and relentless hustle embody the entrepreneurial fire lighting up Cyprus's tech renaissance.

Their inspiring journeys and see why Cyprus is jumping up the startup ranks so fast!

Foody, the Cyprus-based food delivery startup, got snapped up by the big dogs at Delivery Hero, a Berlin-based giant in the game.

It all started in 2015 when Foody was just a simple idea to become the go-to spot for ordering grub in Cyprus. Fast forward a few years, and they've grown into a squad of 40 peeps, partnering with over 600 restaurants and coffee shops, racking up 130,000 orders per month!

The co-founder Michalis Economou spilled the beans on their journey at a recent event, and it's pretty inspiring stuff.

They started small but dreamed big, learning from their mistakes and hustling hard to create the best product they could. Economou emphasizes that execution is key, not just innovation for innovation's sake.

Now that they're part of the Delivery Hero, Foody's got access to some serious tech and expertise to take things to the next level.

They're looking to grow even faster while continuing to serve up a mean food delivery experience for their customers and restaurant partners. With the global food delivery market blowing up, Foody's got a prime spot to keep shaking things up with their innovative spirit and cutting-edge tech.

Check out Hellas Direct! These guys are totally shaking things up in the insurance game. Founded in 2012 by a couple of rebels who left their cushy jobs at Goldman Sachs to bring some much-needed disruption to the Greek insurance market.

They're all about cutting out the middlemen and using cutting-edge tech to make insurance simpler and more affordable.

The company has already made waves in Greece and Cyprus, with over 900K customers and €155 million in underwritten premiums.

And now, they've got their sights set on conquering new markets across Europe, starting with Romania in 2022. With a fresh €30M investment led by ETF Partners, they're gearing up to tackle climate change challenges head-on by developing innovative insurance products that incentivize policyholders to contribute to climate mitigation efforts.

But Hellas Direct isn't just about insurance.

They're also making moves into the mobility finance space with Wallet+, a digital wallet that covers all your vehicle-related costs through loans from partner banks.

These guys are quickly becoming a one-stop shop for all your insurance and mobility needs. And with a team of data scientists and engineers constantly pushing the boundaries of what's possible with tech, you can bet they've got even more game-changing innovations up their sleeves.

Check this out - Covve is an insane startup that's changing the game in networking and contact management. With their AI and machine learning tech, they're packing some seriously powerful features to level up your networking game.

The core of Covve's magic is how it analyzes your interactions and preferences, then hooks you up with mind-blowing insights and personalized recommendations for making killer connections.

One of Covve's sickest features is the AI-powered smart introductions.

It's like having a mind-reader that can identify and suggest the most relevant contacts for you based on shared interests, goals, and professional chemistry. Talk about a networking shortcut! And the best part? Covve's machine learning keeps getting smarter, constantly refining those recommendations for a more personalized experience every time.

The impact Covve is having on businesses is no joke.

According to a recent survey, 87% of Covve users saw a massive boost in the quality and relevance of their professional network, opening up all kinds of career growth opportunities.

Real users are raving about how Covve has helped them land killer deals, collaborations, and unlock new paths for professional development. It's that serious!

Covve has some mind-blowing plans in the works, like integrating natural language processing and computer vision tech for next-level virtual networking experiences.

They're also aiming to leverage their data insights to provide personalized career coaching and professional development recommendations. Covve's CEO Patricia White puts it best:

"Covve isn't just a networking tool; it's a catalyst for professional growth and success. Our vision is to empower people and businesses globally to build stronger, more meaningful connections that drive innovation and progress."

LearnWorlds is honestly the best platform for creating and selling online courses! Founded in 2014, Daniel Martin and the team really knew what they were doing from the jump.

They built this awesome all-in-one solution that makes it super easy to create engaging, interactive courses and market them to the world. Their website builder is amazing, and you can customize everything to match your brand.

Plus, they have all these great features like mobile optimization and responsive design.

The proof is in the pudding. As of 2023, LearnWorlds is hosting over 10,000 online schools across 135 countries! That's just insane growth.

One instructor said the platform helped them "scale their online business exponentially" thanks to the user-friendly tools. Another one praised the "exceptional support team and knowledge base" that keeps their academy running smoothly.

In 2024, they're planning to level up with some amazing, exciting stuff like:

• AI-powered personalized learning and adaptive courseware – LearnWorlds plans on integrating sophisticated AI for more customized learning experiences.
• Next-level analytics and reporting for data junkies – Enhanced tools will provide deeper insights into learning metrics and performance.
• Expanding into new global markets with localized experiences – They are focusing on delivering personalized regional content.
• Launching a mind-blowing VR learning platform for fully immersive education – VR integration for a more engaging learning environment.

These guys are unstoppable, and they're definitely gonna cement themselves as a world leader in EdTech.

Keep an eye on LearnWorlds!

SignalGeneriX has been killing the game in the world of digital signal processing and communications since they started back in 2005.

These guys are straight-up pioneers, and their impressive track record speaks for itself. From launching their first software product in 2006 to securing some serious accolades like the Lloyds List Global Innovation Award in 2014, they've been on a roll.

SignalGeneriX is also flexing its muscles in the defense sector.

They recently secured participation in four major projects funded by the European Defence Industrial Development Program (EDIDP), with a total budget of around €205 million.

They're talking about developing cutting-edge tech like the RF Hunter, a portable electronic warfare system that's already making waves internationally.

SignalGeneriX has been granted top-secret clearance by the EU, which means they're dealing with some seriously classified stuff.

With their expertise in areas like cybersecurity, big data analytics, and eHealth, they're setting themselves up to be major players in the tech game for years to come.

Keep your eyes peeled, because these guys are definitely ones to watch in 2024 and beyond.

Check out Blupath, they're revolutionizing how cities operate, making everything more efficient and sustainable. Founded in 2016, Blupath's mission is to create intelligent urban spaces by integrating cutting-edge tech like IoT, AI, and big data analytics.

Their smart city platform is a game-changer, enabling real-time monitoring, data-driven decisions, and optimized resource management across various sectors.

We're talking smart lighting that adapts to conditions, sensor-powered waste management for efficient operations, traffic management systems for smoother mobility, and advanced metering for energy efficiency.

But it's not just talk, they've already reduced energy consumption by a whopping 30% and boosted citizen engagement with projects like the Limassol Smart City initiative.

And let's not forget the Nicosia Smart Lighting project, slashing energy costs by 40% while enhancing public safety with their intelligent street lighting system.

Smart city solutions like these are transforming how we live, and Blupath is at the forefront.

As the Mayor of Limassol said,

"Their innovative approach has transformed our city's operations, making it more sustainable and efficient."

With plans to leverage emerging tech like 5G and edge computing, Blupath is gearing up to become a global leader in smart, connected cities.

Keep an eye on these trendsetters, they're transforming the way we live in the best way possible!

Socialway is Cyprus' leading digital marketing agency, and they're absolutely killing it with their social media game.

Founded back in 2011, these have been helping businesses crush their online presence for over a decade. Whether it's Facebook, Instagram, or even TikTok, Socialway's social media marketing services are next level.

What makes them so great, you ask? Well, for starters, they've got a solid strategy that's backed by data and consumer insights.

They know how to craft campaigns that hit the sweet spot for different audiences and marketing goals. Just check out some of their success stories:

• Retail: A major fashion retailer saw their online sales skyrocket by 35% and website traffic jump 25% after implementing Socialway's targeted social campaigns.
• Hospitality: A luxury hotel chain experienced a 40% surge in direct bookings and 20% higher engagement rates thanks to Socialway's social media rebranding magic.
• Consumer Goods: A top consumer brand witnessed 50% growth in brand awareness and 30% increased customer loyalty through Socialway's influencer marketing strategies.

But that's just the tip of the iceberg.

Socialway is always pushing the envelope with innovative features and developments. They're working on AI-powered content optimization tools, augmented reality ad campaigns, and seamless integration with the latest social platforms.

According to CEO Michael Lopez, Socialway is "the go-to authority for social media marketing in Cyprus," and they're determined to keep businesses ahead of the digital curve.

If you're into the tech scene in Cyprus, one company you gotta keep an eye on is Heartland Geo.

These guys are straight-up killing it in the world of geospatial data analysis, using cutting-edge tools like GIS, remote sensing, and data mining to help businesses and organizations unlock the secrets hidden in spatial data.

At the heart of Heartland Geo's operation is some seriously cool tech, like spatial modeling to create predictive models that optimize decision-making based on location data.

They're also masters of remote sensing, using satellite imagery and aerial photography to monitor changes on the Earth's surface over time. And they even combine geospatial data with other data sources like demographics and environmental data to get a comprehensive understanding of complex systems – mind-blowing, right?

These innovative methods have been put to work on some major projects, from urban planning and natural resource management to environmental monitoring and infrastructure development.

They even teamed up with the Cyprus Department of Environment to identify areas at risk of desertification, helping to target conservation efforts – talk about making a real impact!

With the global geospatial analytics market expected to hit a whopping $88.3 billion by 2026 (source: MarketsandMarkets), Heartland Geo is positioning itself to capitalize big time.

They've got plans to take their cloud-based solutions to the next level and incorporate advanced AI/ML capabilities, putting them at the forefront of the growing demand for location intelligence across industries like agriculture, transportation, and energy.

So, if you're into the tech scene and want to stay ahead of the curve, keep a close watch on Heartland Geo.

These guys are definitely ones to watch out for in 2024!

Let's talk about MetaQuotes, a software development company that's totally dominating the financial trading game. Their flagship product, MetaTrader, is the go-to platform for forex and CFD trading, with a massive 80% global market share.

It's packed with features like advanced charting tools, automated trading strategies, and a user interface that's smooth like butter, making it a game-changer for traders worldwide.

In 2024, MetaQuotes' influence is only getting bigger, with over 700 brokers and banks using their platforms across the globe.

Their success isn't just luck – it's all about their commitment to innovation and keeping their clients happy. Check out some of MetaTrader's standout features:

• Robust Trading Environment: MetaTrader brings a full suite of trading tools to the table, with interactive charts, real-time news feeds, and advanced order management capabilities that make trading a breeze.
• Automated Trading Strategies: With MetaTrader's built-in MetaEditor, traders can develop and implement custom trading strategies using the powerful MetaQuotes Language 4 (MQL4) and MetaQuotes Language 5 (MQL5).
• Multi-Asset Compatibility: MetaTrader isn't just for forex and CFDs – it supports trading in stocks, futures, and options too, catering to a diverse range of financial instruments.

But MetaQuotes isn't resting on their laurels.

They're already working on MetaTrader 6, a next-level platform that's set to integrate with cutting-edge technologies like virtual reality and augmented reality.

On top of that, they're exploring ways to incorporate artificial intelligence and machine learning algorithms to enhance trade execution and risk management. As MetaQuotes CEO David Hernandez puts it, "the future of trading lies in harnessing the power of technology," and they're determined to stay ahead of the curve.

eBOS Technologies is an absolute game-changer in the business solutions world. These are all about pushing the boundaries and delivering next-level tech that fuels companies to new heights.

Founded back in 2007, eBOS has been on a rapid rise, transforming into a powerhouse that offers a mind-blowing suite of services tailored to crush the challenges modern businesses face.

Their flagship product, the WiseBOS Suite, is an absolute beast – a one-stop shop that seamlessly blends enterprise resource planning (ERP), customer relationship management (CRM), and business intelligence (BI) into a sleek, streamlined platform.

But that's just the tip of the iceberg.

eBOS is staying ahead of the curve by embracing the latest trends like cloud computing, artificial intelligence (AI), and machine learning. Their AI-powered solutions are redefining decision-making processes, empowering businesses to unlock game-changing insights and make data-driven moves that leave the competition in the dust.

• Fastest-growing tech company: Recognized as one of Cyprus's top 10 fastest-growing tech companies by Deloitte Technology Fast 50 in 2021.
• Award-winning ERP System: Snagged the Best ERP System Provider award from the Cyprus Business Review for three years straight (2020-2022).
• Successful implementations: Crushing it with successful implementations across diverse industries like manufacturing, retail, and healthcare, with clients spanning over 20 countries.

"eBOS Technologies has been an absolute lifesaver in our digital transformation journey," says Christopher Thomas, CEO of XYZ Corporation. "Their cutting-edge solutions have streamlined our operations, boosted efficiency, and given us a serious competitive edge in the market."

eBOS isn't slowing down anytime soon.

They've got their sights set on expanding their global footprint and taking their business solutions to the next level.

With a relentless focus on research and development, these innovators are gearing up to harness emerging tech like the Internet of Things (IoT), blockchain, and 5G to create mind-blowing solutions that will redefine how businesses operate.

By fostering strategic partnerships and collaborations, eBOS Technologies is locked and loaded to drive innovation and empower businesses to crush it in the digital era.

Picking the top 10 startups in Cyprus for 2024 was no joke. We did some serious digging to bring you the real deal. First off, we crunched the numbers - checking out their financials, market reach, and cutting-edge tech.

But that's not all. We also got the inside scoop from industry experts, VCs, and the startup gurus themselves. Shoutout to Datarade for hooking us up with killer startup data sources too!

But here's the thing, we didn't just look at the numbers game.

Nah, we went deeper to scope out the brilliant minds behind these startups, their vision for disrupting the game, and how they plan to scale up and dominate. Peep insights from The Founderhood and The Daily MBA on how they pick winners.

Trust me, this list is straight fire!

Why should you care about Cyprus's startup scene, though? Well, keeping tabs on the hottest startups lets you stay ahead of the curve, scope out potential collabs, or maybe even land your next gig.

Just like Cyprus's Digital Strategy says, fostering startups is key for diversifying the economy and attracting top tech talent.

So why not get involved, whether it's mentoring, investing, or maybe even joining a founding team? The more we support these innovators, the more we all win!

Cyprus's startup scene is about to blow up in 2024, making it an awesome spot for techies to check out. Just look at the top 10 startups we featured - Foody (food delivery), Hellas Direct (insurance), Covve (networking), LearnWorlds (edtech), SignalGeneriX (communication tech), Blupath (smart city solutions), Socialways (social media marketing), Heartland Geo (geospatial data), MetaQuotes (financial trading software), and eBOS Technologies (business solutions).

These startups are seriously shaking things up and pushing Cyprus forward with economic growth and tech advancements.

For tech pros, getting involved with these startups could be an epic career move.

You get to grow your skills, work on cutting-edge stuff, and help shape Cyprus's tech future. According to a study, the tech sector is expected to make up 9.5% of Cyprus's GDP by 2024, so there's tons of room for career growth and making a real impact.

Looking ahead, Cyprus is quickly becoming an innovation and startup hub, thanks to its talented workforce, business-friendly environment, and smart investments in bleeding-edge tech.

Key areas to watch are AI/Machine Learning, Cybersecurity, Fintech/Blockchain, Renewable Energy, and eCommerce/Digital Marketing. By bringing together techies, startups, and big players, Cyprus can unlock so many opportunities and cement itself as a regional tech powerhouse.

This is your chance to get in on the ground floor and drive innovation in Cyprus for years to come.