University of Luxembourg Spin-off · Investor Briefing 2026

Lab replacement by NIR authentication, for any solid or liquid material*.

AI-powered quality control that authenticates raw materials and catches tampering in seconds.

*materials with organic origin

98%+
Detection accuracy
€99B
Counterfeit imports into the EU / yr
Seconds
Verdict in seconds
XRPL
Evidence on the XRP Ledger
Backed & supported by
University of Luxembourg Incubator· SnT — Centre for Security, Reliability & Trust· Ripple· Luxembourg National Research Fund (FNR)
Watch the 60-second overview

NIR Watchdog, in one minute.

A short overview of the platform — how we authenticate raw materials and catch tampering in seconds.

01 · The Problem — Reality

Every 3 minutes, a child dies from fake anti-malaria pills.

A 2023 UNODC threat assessment links up to 267,000 deaths a year in sub-Saharan Africa to substandard and falsified anti-malarials.

Counterfeiting is an economic threat Europe cannot inspect its way out of.

Laboratory testing is accurate, but centralized, expensive and slow — so the vast majority of goods cross the supply chain unverified.

€99B
Counterfeit imports into the EU, 2025 — ~5% of all EU imports; global $467B
10%
of medical products are fake — €9.6B lost / yr
30%
of wine sold is counterfeit — €2.6B lost / yr
9%
of EU cigarettes are fake — €45B market / yr
02 · Training & Inspection

Train once, inspect continuously, prove everything.

Training
01
Reference samples
Validated authentic material
02
NIR fingerprinting
Spectral signatures captured
03
Model training
Deep learning + transfer learning
04
Model library
Per material, per device
Inspection
01
Field scan
Any portable NIR device + mobile app
02
AI comparison
Against the validated model
03
Verdict in seconds
Authentic · deviating · anomalous
Evidence on the XRP Ledger

Every scan and model version is hashed, signed and timestamped: spectra, device ID, location, result. An immutable audit trail for regulators and customers.

03 · Competition

Everyone else sells a scanner. We sell the intelligence layer.

Company · ProductAI integrationMobileNIR device
Tellspec · Food SensorFullApp + cloudNative only
Consumer Physics · SCiOPartialNative mobileNative only
Si-Ware Systems · NeoSpectraFullVia scan appNative only
Spectral Engines · NIROnePartialSDK optionsNative only
B&W Tek (Metrohm) · NanoRamLimitedLimitedNative only
NIR Watchdog · Analytics platformTrainableNative appAny device
04 · Proof of Concept

Traction and accuracy

Each proof-of-concept trained new models on a new material — same platform — from chocolate packaging to water quality.

96%
2019–21 · Chocolate packaging — industry prototyping
98%
2021–22 · Paracetamol — pharmaceutical authentication
98%
2022–23 · Powders & molasses — bulk material QC
98%
2024 · Oyster provenance — origin verification
99%
2024 · Water quality — environmental monitoring
Ongoing
2025–26 · Food supplements — PM International 3-year R&D contract
Worked with
Kerry· Large Chocolate Company· PM International· University of North Carolina at Chapel Hill
Awards & milestones
FNR Jump Grant· Blocksprint Hackathon 1st Prize · 2020· Ripple XRPL Accelerator + Special Award · 2023· Started 2019, incorporated 2023, Uni.lu Incubator
05 · The Team

Researchers who ship, builders who scale

RS
Prof. Radu State
Tech mentor · Uni.lu
HH
Dr. Hui Huang
Chief Scientist · Uni.lu
JM
Dr. Jorge Meira
COO, Data & ML · Uni.lu
EB
Eddie Berkovitch
Vision
WS
Dr. Wazen Shbair
Blockchain & XRPL · Uni.lu
IS
Ilias Sviatko
Software Architect
LP
Leonard Perry
SW Partner · ex-Head of R&D, Viber
NC
Nino Chaganava
Projects Coordination · Uni.lu
06 · Commercial Model

Customer SaaS: clear, scalable, recurring

Stage 1
Implementation & model training
€40K one-time
  • Sample collection & onboarding
  • AI model development
  • NIR device integration
  • User training & handover
Stage 2
Platform license
€80K ARR
  • Authentication platform & mobile app
  • Analytics dashboard
  • Traceability & evidence
  • User management & support
Stage 3
Scale & expansion
Add-on modules
  • Additional product categories
  • Blockchain provenance & compliance
  • API integration & dashboards
  • Multi-site deployment
BuyerFood, pharma, supplements, quality labs
Budget ownerQA director, COO, procurement, compliance
Economic beneficiaryManufacturer, distributor, regulator
ROIUp to 75% cost reduction on €0.5–2M authentication spend, faster decisions
07 · Financial Projections

Break-even in Y3, €8.6M revenue in Y5

€40k one-time setup + model training per client, plus €80k annual platform license. Five-year model.

Year 1
6 clients
€0.50M
Year 2
12 clients
€1.03M
Year 3
26 clients
€2.23MBreak-even
Year 4
50 clients
€4.28M
Year 5
100 clients
€8.56M
100 clients by year 5, from 6 in year 1
Year 3 — operating break-even: €0.03M operating profit
€5.96M cumulative profit by year 5, on €16.6M cumulative revenue
08 · Why Us Now

The US window is open, and on a clock.

Market ready
DSCSA is in full force across the US drug supply chain, final deadline Nov 2026. Detecting and removing suspect product is now a legal duty and the FDA is enforcing it.
We are ready
A validated platform moving to commercial scale, not a lab experiment.
Model is ready
€80k + €40k contracts fit US pharma and food buyers with real compliance budgets; profitable on a small book of accounts.

NIR Watchdog proves what's inside the box is real — the physical-verification layer the US market needs.

09 · The Ask

€3M growth round

From prototype to commercial scale.

€1.5M
Private investment
€1.5M
Luxembourg state programs (RDI and Young Innovative Enterprise)

Expand the product database, accelerate commercial deployment, and land first large-scale industrial customers.

Use of funds
Product R&D
  • AI models & transfer-learning
  • Additional product categories
  • Enhanced analytics & automation
  • Own equipment
Use of funds
Operational build-up
  • Large-scale reference sample databases
  • Industry validation programs
  • Scaled authentication capacity
Use of funds
Business development
  • Customer acquisition
  • Strategic partnerships
  • International market expansion
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