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Cyprus Startups Raise More Than €12 Million In Early 2026

Overview Of An Accelerating Startup Scene

Cyprus’ startup ecosystem recorded strong momentum during the first months of 2026, with seven locally based companies collectively raising more than €12 million across sectors including artificial intelligence, robotics, proptech, fintech and mobile gaming. The funding rounds involved investors from Cyprus, Greece, Latvia and Eastern Europe, highlighting growing international interest in the regional technology market.

Regional Spotlight: Leading Funding Rounds

Aina, headquartered in Limassol, raised $1 million in a seed funding round for its AI-powered recruitment platform focused on automating interviews and hiring processes. The company, founded by Natallia Mikhnovets, said the platform has already supported more than 2,000 interviews and over 300 successful placements.

Meanwhile, Naoma, based in Nicosia, secured $440,000 in a pre-seed round led by ULTRA.VC with participation from Sparkle Ventures and angel investors. The startup is developing an AI-powered video sales platform designed to provide real-time product demonstrations without scheduled sales calls.

Innovative Developments And Strategic Investments

Autonomics raised $1 million in a bridge round led by Kinisis Ventures through its KV Fund II. The company, working alongside ASBISc Enterprises, develops autonomous cleaning systems powered by its SPARC fleet orchestration platform, which is already operating at the Four Seasons Astir Palace hotel in Athens. At the same time, Resitech secured €640,000 after Athens-listed fintech group Qualco acquired a 34% minority stake in the business. The Nicosia-based company specialises in B2B real estate analytics and data services across Cyprus and Greece.

Scaling Up And Preparing For Summer

In April, Moving Doors raised $6 million in the largest funding round recorded by a Cyprus-based startup so far this year. The Limassol-based proptech company, now under the majority ownership of Greek private equity firm Golden Age Capital, operates a platform managing around 500 serviced apartments across Cyprus, Athens and Dubai, with the acquisition forming part of a broader European expansion strategy targeting 3,500 units.

During the same month, INXY secured an additional $4 million in seed financing led by Flashpoint, bringing its total seed funding to $7 million. The company provides stablecoin and crypto-to-fiat payment infrastructure for sectors including gaming, advertising and SaaS, while Founder and CEO Ruslan Zholik said demand for stablecoin payments increased fivefold this year.

Meanwhile, Soloband Games completed a Series A funding round backed by Zubr Capital, although financial terms were not disclosed. The mobile gaming studio’s flagship title, World Tour Merge, has surpassed one million downloads and was developed with input from industry veterans previously involved with studios including Playrix and Melsoft.

Looking Ahead To The Doers Summit

Attention within the local startup ecosystem is now turning toward the Doers Summit, scheduled for May 21-22 in Limassol, where organisers expect more than 10,000 founders, investors and operators to attend. The event is expected to further strengthen Cyprus’ growing position as a regional hub for startups, investment and technology innovation.

OpenAI Says It Banned Russian ChatGPT Accounts Used In A Covert Influence Campaign

OpenAI said it has banned a cluster of ChatGPT accounts originating in Russia after identifying their use in a covert online influence campaign designed to spread misinformation.

The company said it uncovered the activity while reviewing AI-generated social media posts, a probe that ultimately revealed what it described as a far broader operation. In a blog post published Tuesday, OpenAI said the campaign was built around a website featuring copied and misattributed academic work, a so-called sovereignty index that portrayed Russia favorably, and efforts to conceal the operators’ Russian origins.

A Broader Playbook For Influence Operations

The case underscores how generative AI is increasingly being used as an enabling tool in information operations, not merely as a content generator. According to OpenAI, the operators prompted ChatGPT in Russian to produce social media comments and posts that were later distributed across Substack, Telegram, X, Facebook and LinkedIn. The same operators also instructed the model to obscure linguistic clues that could reveal their identity or geographic origin.

OpenAI said the campaign centered on an organization called the International Burke Institute, or IBI. The institute’s website, the company said, featured articles copied from real academic sources, sometimes with false attribution. It also included a “sovereignty index” that praised Russia and criticized Western countries.

Why The Infrastructure Mattered More Than The Reach

While OpenAI said the immediate reach of the operation appeared limited, it stressed that the real significance lay in the infrastructure the operators had assembled. The campaign presented an apparently credible institution, complete with named experts, republished research and a proprietary risk index—elements that can be used to manufacture legitimacy at scale.

That distinction matters. In modern influence campaigns, credibility is often the product, not the byproduct. A polished website, a pseudo-academic veneer and coordinated social distribution can make false narratives appear institutional, even when the audience remains relatively small.

OpenAI said the episode illustrates how influence actors can use AI to support broader efforts to obscure authorship, build trust and elevate preferred narratives. It also noted that the use of AI can, paradoxically, expose the operation itself when the supporting infrastructure is scrutinized.

Part Of A Pattern Of Pro-Russia Activity

This is not the first time OpenAI has moved against accounts linked to pro-Russia activity. In February, the company said it shut down ChatGPT accounts associated with Rybar, a pro-Russia media organization that the U.K. government has described as partially coordinated by the Russian Presidential Administration and connected to Russian state interests.

OpenAI said it does not permit access to its models from Russia, but added that the operators in this case used VPNs to mask their location. CNBC has contacted the Russian embassy in London and Russia’s Foreign Ministry for comment.

The broader lesson for businesses, governments and platforms is clear: the next generation of influence campaigns may not rely on volume alone. They will rely on process, polish and the strategic use of AI to create the appearance of authority.

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