Finapp has invented a new way of measuring water! And it has done so starting in the Department of Nuclear Physics at the University of Padua, in 2018. The original idea of using the neutron detector to measure water content dates back to the autumn of 2016. Since then, step by step, the idea has taken shape, becoming first a project, then a prototype and, finally, a company.

In the last 18 months the company has grown from 3 to 20 employees and plans to add another 10 people in 2024. Finapp currently operates two production units in Italy and plans two openings abroad in the next 12 months.

After an initial investment of EUR 200,000 by Progress Tech Transfer obtained in 2020, Finapp received an additional EUR 1.2 million in equity from:

• Crédit Agricole Italia
• Tech4Planet (a national technology transfer hub on environmental sustainability set up on the initiative of CDP Venture Capital)
• Progress Tech Transfer Fund (a fund promoted by MITO Technology and aimed at enhancing technologies in the field of sustainability)

In June 2023, Finapp won the EIC Accelerator tender of the European Innovation Council and SMEs Executive Agency (EISMEA) with a grant of over EUR 2 million.