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iQ3Solar LTD has its origins in award winning research conducted at the University of Cyprus. Through funding and support from the Cyprus Seeds program the pre-commercialization efforts (for the project named SOLEX) started in 2020. Specifically, the development of the prototype, filing for patent protection for USA and Europe, and exploring the market opportunities.

In 2022, the team was awarded an extremely competitive (only 6 out of 120 applications) €100.000 pre-seed funding from the Research and Innovation Foundation (RIF) of Cyprus to start the company in order to develop and commercialize the innovative iQ3Solar solution.  The iQ3Solar platform along with the dedicated and patented degradation sensors is a game changer for PV system operators. It offers the operators unsupervised monitoring and decision recommendations for the PV park, minimizing human error. Data from existing equipment, satellites, and proprietary sensors are taken through a series of AI-ML algorithms, so that the health and performance of PV assets, as well as insights on how to optimize PV parks is presented to the operators and the owners.