In Italy 18.6 million buildings are at risk of radon, a colorless, odorless and radioactive gas that causes over 3,000 deaths every year in our country alone. It is the first cause of lung cancer in the world for non-smokers, the second for smokers, after tobacco. After six years of research and development and three international patents, Domenico Cassitta created Newco Radoff in 2018 together with other professionals and has developed various systems capable of monitoring indoor air quality, remedying radon gas. and from fine dust in all buildings. All systems that use the IoT that do not require complex interventions and that reduce costs. The technological plus of the devices is the proprietary sensor for detecting radon gas, capable of providing reliable values with faster response times than conventional radon-detectors.
The society
Developed thanks to a technology transfer with the University of Modena and Reggio Emilia and the University of Trento (which opened to collaboration with the Bruno Kessler Foundation), the company today formalizes an agreement with Linkem, with the aim to have a partner with whom to invest in the distribution of products.
With two offices in Bologna and Calangianus (Sassari), Radoff is also about to land in the Canadian market thanks to a partnership with eliquidMEDIA International, on the US market, thanks to the support of an international law firm, in the South American market thanks to an agreement with the company. InvVal Capital and can count on a network of 70 people with skills from multiple sectors. Since its inception, Radoff has closed 10 rounds of financing for a total value of approximately 3 million euros and is now ready for the next stages of development.
European discipline and development plans
“To push it there is a more stringent legislation, already approved at European level, – explained Domenico Cassitta – which imposes the obligation to monitor radon gas and implement remediation solutions”. Legislative Decree 101/2020 on radiation protection has implemented the indications contained in Directive 2013/59 / Euratom.
Furthermore, Radoff can leverage on a market with great potential and strong growth.
“The value of the indoor air quality monitoring technology sector alone – added Cassitta – is estimated by analysts between 7 and 10 billion dollars by 2025. If you then look in detail at the trends of recent years in Italy , the home wellness market grew on average by + 64% a year and reached 1 billion euros in 2017, the smart home market by + 25.8% a year for a total of 530 million euros and of smart cities by + 18% per year reaching 5 billion euros in 2019. All factors that encourage our growth plan, which between now and 2025 will include the expansion of the team, internationalization both in the European market and overseas , as well as continuous research and development to improve Radoff technology. A strategy that will see an increase in turnover that will go from the current 1.5 million euros in 2021 to almost 24 million euros in 2025.
Today the company offers 4 devices and includes, among the shareholders, Intesa San Paolo Spa, CDP Venture Capital Sgr, a team of business angels and the company Linkem Spa, a 5G operator specialized in Italy in the ultra-broadband sector, which in addition to being one of the main investors, will also deal with the distribution of Radoff solutions through its own network of points of sale.