The European Innovation Council (EIC) has announced funding for 71 companies following the October 2024 EIC Accelerator cut-off. These companies were selected from 1,211 proposals, of which 431 reached the jury interview stage.
The EIC reports that this was the most competitive funding round since the Accelerator’s launch in 2021 under Horizon Europe.
The funding includes up to €161M in grants and approximately €226M in equity investments, managed through the EIC Fund. 79 per cent will receive blended finance, while 10 companies chose grant-only funding and five opted for equity-only support. Notably, women hold leadership roles as CEO, CSO, or CTO in 21 per cent of the selected companies.
The EIC Fund typically attracts additional investment, increasing total funding beyond the initial amount. Most companies will receive grant funding within three months, while investment decisions will be based on urgency.
Four selected companies received funding through the ‘Plug In’ scheme, which allows projects from certified national and regional programs to advance directly to the EIC Accelerator application stage.
Additionally, 330 companies will receive a ‘Seal of Excellence’, enabling them to seek alternative funding from sources like the Recovery and Resilience Funds and European Regional Development Funds.
Brief about the EIC Accelerator
The EIC Accelerator provides financial support to startups and SMEs through grants of up to €2.5M and equity investments via the EIC Fund, ranging from €0.5M to €15M (with a limit of €10M from 2025).
This year, the STEP Scale-up scheme was introduced, offering investments of up to €30M. In addition to funding, participating companies gain access to Business Acceleration Services, connecting them with experts, corporate partners, investors, and other key stakeholders.
Companies can submit their proposals at any time, with evaluations taking 6-8 weeks. Since its launch in 2021, the EIC Accelerator has received over 10,000 applications. Businesses that meet the EIC’s criteria for excellence, impact, and risk level are invited to submit full applications for scheduled cut-off dates.
The next deadline for full proposals, as outlined in the EIC 2025 work programme, is set for March 2025.
Companies selected from Germany
In 2024, the German startup ecosystem raised €7.4B in venture capital across 1,407 financing rounds, a 4 per cent increase from the previous year, reports KfW Research. This year, the country’s startups continue to secure investment through the EIC and private capital.
With the latest EIC development, 15 Germany-based companies have been listed among the recipients of EIC funding, using grants and equity to advance technologies in AI, biotech, and quantum computing.
Check them out below:
ATMOS Space Cargo
HQ: Lichtenau
Finance type: Blended Finance
Funding raised: €2.5M EIC grant, €5.3M EIC fund equity, €5.3M from private investors
ATMOS Space Cargo develops advanced technology for returning cargo from space, supporting microgravity research, commercial payloads, and spacecraft reusability. The company connects Earth and low Earth orbit, promoting industrial innovation with sustainable solutions. Its PHOENIX capsule serves as a versatile logistics platform for transporting goods between Earth and space.
ATMOS’ PHOENIX return capsule is a vehicle designed to transport various payloads. The first version can carry up to 100 kg, with future models planned for heavier loads, including rocket stages.
Nature Robots
HQ: Osnabrück
Finance type: Blended Finance
Funding raised: €2.5M
Nature Robots develops AI-powered autonomous robots for regenerative agriculture. Its flagship robot, Lero, creates high-resolution 3D plant maps to assist agronomists, farmers, and breeders in monitoring crops and weeds. The technology operates in diverse environments, including vegetable farms, orchards, agroforestry, and agro photovoltaics, aiming to reduce workload and improve agricultural productivity.
SEMRON
HQ: Dresden
Finance type: Blended Finance
Funding raised: €2.5M
SEMRON develops AI hardware based on CapRAM technology, enabling compute-in-memory processing. Its 3D CapRAM architecture allows AI to run directly on devices such as smartphones, wearables, and headsets without cloud dependence. The company focuses on advancing hardware for faster and more efficient AI processing at the edge.
Codasip
HQ: Munich
Finance type: Equity Only
Funding raised: –
Codasip provides processor solutions based on the open RISC-V ISA, enabling custom compute for tailored chip designs. The company combines processor design automation with high-quality processor IP to help developers create differentiated products. With a global presence, its technology is used in billions of chips.
BioThrust
HQ: Aachen
Finance type: Blended Finance
Funding raised: –
BioThrust develops bioreactors for large-scale cell production. Its bionic bioreactor uses an artificial lung and a patented membrane stirrer for bubble-free gas exchange, preventing foam formation and increasing gas transfer rates. The technology enhances cell cultivation efficiency, supporting stem cell therapy, cultured meat, and synthetic biologics.
LiveEO
HQ: Berlin
Finance type: Equity Only
Funding raised: –
LiveEO provides earth observation solutions using satellite data and AI to monitor infrastructure and enhance operational efficiency. Its technology helps businesses improve safety, reduce disruptions, and strengthen resilience against climate change. Operators of linear infrastructure use LiveEO’s insights to mitigate risks and maintain network stability.
Augmented Industries
HQ: Heroldsberg
Finance type: Grant Only
Funding raised: –
Augmented Industries provides AI-powered factory training to help manufacturers train employees efficiently. Its industrial microlearning approach covers process-specific training needs, including machine operations, material handling, safety, and continuous improvement, delivering training directly on the shop floor.
eleQtron
HQ: Siegen
Finance type: Blended Finance
Funding raised: –
eleQtron develops and operates quantum computers using ion-based quantum states controlled by miniaturised radio frequency technology. Its MAGIC (Magnetic Gradient Induced Coupling) concept aims to solve problems beyond the capabilities of conventional supercomputers.
MetisMotion
HQ: Munich
Finance type: Blended Finance
Funding raised: –
MetisMotion develops ultra-dynamic and compact linear force actuators. Its platform supports applications in automotive, industrial, aviation, and robotics sectors. Compared to conventional actuators, its solutions are smaller, lighter, and faster while integrating sensing capabilities. The company focuses on advancing electrification in hydraulics for Industry 4.0.
Noah Labs
HQ: Berlin
Finance type: Blended Finance
Funding raised: €2.5M non-repayable grant and Up to €8.5M in potential equity investment
Noah Labs develops voice-based biomarkers for early detection of cardiovascular conditions and remote monitoring to support patient health.
Invitris
HQ: Munich
Finance type: Blended Finance
Funding raised: –
Invitris uses synthetic biology to develop new classes of protein-based drugs. Its biotech platform, Phactory, improves protein design efficiency and reduces material costs. The company applies this technology to develop next-generation antibiotics and other protein-based therapies.
MyoPax
HQ: Berlin
Finance type: Blended Finance
Funding raised: Undisclosed
Myopax develops regenerative therapies for muscle diseases using proprietary muscle stem cell technology. A spin-off from Charité Universitätsmedizin and the Max Delbrück Center for Molecular Medicine, the company focuses on advancing treatments for muscle disorders.
FluIDect
HQ: Jena
Finance type: Blended Finance
Funding raised: Upto €2.5M
FluIDect develops pocket-sized pathogen analytics instruments for real-time monitoring at production sites. Its sensor technology uses light-emitting µBeads to detect pathogens in liquid products along the process chain, enabling in-line and target-specific analysis.
Tracebloc
HQ: Berlin
Finance type: Grant Only
Funding raised: –
Tracebloc enables enterprises to collaborate with AI experts worldwide to develop custom AI models. Its approach allows companies to create high-performing, eco-friendly models on-site using proprietary data.
Vivalyx
HQ: Aachen
Finance type: Blended Finance
Funding raised: –
Vivalyx develops solutions to improve the vitality and availability of donor organs for patients with organ failure.
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