1 The EIC Accelerator Project
EIC Accelerator Program Overview
The EIC Accelerator is a flagship funding initiative under the European Innovation Council (EIC), designed to support startups and small to medium-sized enterprises (SMEs) with breakthrough innovations and high growth potential. It is part of the larger Horizon Europe program, which focuses on fostering research, innovation, and competitiveness across the European Union.
Key Features:
- Focus on DeepTech: The program targets DeepTech companies, emphasizing transformative technologies that require extensive research and development.
- Support for Scale-up: It aids companies in scaling up their operations and reaching global markets.
Funding Details
The EIC Accelerator offers two main types of funding:
- Amount: Up to €2.5 million.
- Purpose: To cover costs related to innovation activities such as prototyping, testing, and validation.
- Amount: Up to €15 million until 2024, and up to €10 million starting in 2025.
- Purpose: To support further development and commercialization, helping companies bring their innovations to market.
Purpose in the European DeepTech and Startup Ecosystem
The EIC Accelerator plays a critical role in the European DeepTech and startup ecosystem by:
- Encouraging Innovation: It supports high-risk, high-potential innovative projects that might otherwise struggle to secure funding.
- Bridging the Financial Gap: It provides necessary capital at early stages, which is crucial for DeepTech companies that often have long development cycles.
- Facilitating Market Access: The program helps companies expand their reach and enter new markets.
Role in Scaling and Private Sector Funding
The EIC Accelerator assists companies in scaling by:
- Offering Financial Support: It provides both grant and equity financing, reducing the reliance on private investors in the early stages.
- Attracting Private Investment: By de-risking projects, the program makes them more attractive to private investors, facilitating additional funding rounds.
- Providing Business Coaching: It offers mentorship and advisory services to enhance business strategies and growth prospects.
Augmedit B.V. and GUIDANCE 3D Project
Augmedit B.V., a Netherlands-based company, is a winner of the EIC Accelerator with their project titled makinG aUgmedit lumI stanDArd in NeurosurgiCal surgEry in 3D: GUIDANCE 3D. The project focuses on integrating advanced 3D imaging technology into neurosurgical procedures.
Project Details:
- Objective: To standardize the use of Augmedit's innovative 3D guidance technology in neurosurgery, enhancing precision and outcomes.
- Funding Type: Grant first, indicating initial support through grant funding to build and validate the technology.
- Submission and Win: Augmedit submitted their proposal on June 15, 2022, and succeeded in the subsequent selection process.
Technology Basics and Background
GUIDANCE 3D Technology:
- Core Technology: The project integrates augmented reality (AR) with 3D imaging to provide real-time, precise guidance during neurosurgical procedures.
- Benefits: This technology aims to improve surgical precision, reduce operation times, and enhance patient outcomes.
- Innovation: By combining AR with detailed 3D models, surgeons gain a better understanding of complex anatomical structures, leading to more informed decision-making during surgeries.
- Background: Augmedit has leveraged advances in imaging and visualization technologies to create a platform that enhances the capabilities of neurosurgeons, making surgeries safer and more effective.
Through the EIC Accelerator, Augmedit B.V. is poised to revolutionize neurosurgical standards, leveraging its innovative GUIDANCE 3D project to improve surgical precision and patient care globally.
2 The Funding Rounds
Since receiving €1.7 million in non-dilutive funding from the European Innovation Council (EIC) Accelerator program on June 15, 2022, Augmedit B.V., a Netherlands-based medical augmented reality (AR) company, has secured additional funding and support.Seed Funding Round:
- Date: November 1, 2022
- Amount: Over €1 million
- Investors: The seed round was led by Revere Partners, a U.S.-based venture capital fund, and included contributions from Dutch and Swiss informal investors. (siliconcanals.com)
Investor Information:
Utilization of Funds:
Augmedit plans to use the seed funding to obtain CE certification and FDA clearance for its neurosurgical products. Additionally, the company aims to expand its technology to high-volume applications beyond neurosurgery in both Europe and the U.S. (siliconcanals.com)
Company Valuation:
Specific valuation figures for Augmedit following these funding rounds are not publicly disclosed. However, the successful completion of the seed round and the EIC grant indicate strong investor confidence in the company's growth and innovation potential.
As of April 15, 2025, there are no publicly available records of additional funding rounds or exit events for Augmedit B.V. beyond those mentioned above.
3 The Press Releases
Since receiving EIC Accelerator funding on June 15, 2022, Augmedit B.V. has published several press releases detailing their advancements and milestones.Funding and Investments:
- October 14, 2022: Augmedit secured a €1.7 million grant from the European Innovation Council (EIC) Accelerator Program, Europe's flagship initiative for breakthrough technologies and innovations. (augmedit.com)
- November 1, 2022: The company closed a seed investment round exceeding €1 million, involving Dutch and Swiss informal investors and the U.S.-based Venture Capital Fund Revere Partners. This funding aims to obtain CE certification and FDA clearance for their neurosurgical products and to expand into other medical fields in Europe and the USA. (augmedit.com)
Technology Advancements:
Media Features:
Certifications:
Team Updates:
- September 22, 2022: The company announced openings for an Azure Developer and a Technical Physician to join their team. (augmedit.com)
- December 7, 2022: Augmedit sought to add a UX Developer to their team, reflecting their focus on enhancing user experience. (augmedit.com)
Awards and Recognitions:
These press releases, available on Augmedit's official website, highlight the company's progress in funding, technological advancements, team expansion, certifications, and industry recognition since their EIC Accelerator funding.
4 The Technology Advancements
Since receiving EIC Accelerator funding on June 15, 2022, Augmedit B.V. has achieved several significant milestones:Technology Advancements:
- FDA Clearance: On September 10, 2024, Augmedit's LumiNE US software received clearance from the U.S. Food and Drug Administration (FDA) for use in surgical planning. This software converts 2D MRI and CT scans into 3D models, integrating augmented reality (AR) and artificial intelligence (AI) to enhance surgical preparation. (augmedit.com)
- ISO/IEC 27001 and NEN 7510 Certifications: On November 23, 2023, Augmedit achieved these certifications, affirming their commitment to top-tier data security and healthcare information handling. (augmedit.com)
Scaling and Market Demonstration:
- Seed Investment Round: In November 2022, Augmedit closed a seed investment round exceeding €1 million, with contributions from Dutch and Swiss investors, as well as the U.S.-based venture capital fund Revere Partners. This funding aims to obtain CE certification and FDA clearance for their products and to scale their technology beyond neurosurgery in Europe and the USA. (augmedit.com)
- Feature on Dutch National TV: On April 12, 2024, Augmedit's Lumi software was showcased on the program EenVandaag, where neurosurgeon Maarten Bot from Amsterdam UMC highlighted the advantages of their AR software in surgical planning and education. (augmedit.com)
Publications and Clinical Trials:
Augmedit has been active in publishing scientific studies and clinical trials, including:
- "Clinical Application and Further Development of Augmented Reality Guidance for the Surgical Localization of Pediatric Chest Wall Tumors" published in the Journal of Pediatric Surgery on February 24, 2024. (augmedit.com)
- "NnU-Net versus mesh growing algorithm as a tool for the robust and timely segmentation of neurosurgical 3D images in contrast-enhanced T1 MRI scans" published in Acta Neurochirurgica in 2024. (augmedit.com)
- "Mixed Reality for Cranial Neurosurgical Planning: A Single-Center Applicability Study With the First 107 Subsequent Holograms" published in Operative Neurosurgery on December 29, 2023. (augmedit.com)
These publications demonstrate Augmedit's commitment to advancing AR applications in surgical planning and education.
In summary, since receiving EIC Accelerator funding, Augmedit B.V. has made significant strides in advancing their technology, scaling their operations, demonstrating their products in the market, and contributing to scientific research in the field of augmented reality for surgical applications.
5 The Partnerships and Customers
Since receiving EIC Accelerator funding on June 15, 2022, Augmedit B.V., a Netherlands-based medical software company specializing in augmented reality (AR) tools for surgeons, has secured significant partnerships and funding to advance its technology and market position.New Partnerships:
Nature and Purpose of Relationships:
Market Positioning:
These relationships position Augmedit to expand its market reach beyond neurosurgery, particularly into the oral and maxillofacial healthcare sectors. The backing from Revere Partners, with its focus on oral health, provides strategic support for entering these new markets. (siliconcanals.com)
Technology Advancements and Scaling:
The funding and partnerships enable Augmedit to advance its AR technology, finalize the development of its LumiNE Elite software, and achieve necessary regulatory certifications. This support facilitates scaling operations and broadening the application of its technology across various surgical fields. (siliconcanals.com)
In summary, since mid-2022, Augmedit B.V. has formed strategic partnerships and secured funding that enhance its technological capabilities and market presence, particularly in expanding its AR solutions into new surgical domains.
6 The Hiring and Company Growth
Since receiving €1.7 million in EIC Accelerator funding in June 2022, Augmedit B.V., an Amsterdam-based medical software company specializing in augmented reality (AR) tools for surgeons, has demonstrated notable growth and development.Current Headcount and Team Size: As of the latest available information, Augmedit employs between 11 and 50 individuals. (sp-edge.com) This range suggests a small to mid-sized team, though specific current headcount figures are not publicly disclosed.
Hiring Status: While specific details about current job openings are not readily available, the company's expansion efforts, particularly in obtaining CE certification and FDA clearance for its products, indicate a potential for ongoing recruitment to support these initiatives.
Growth Since EIC Funding: In addition to the EIC grant, Augmedit secured over €1 million in a Seed funding round in November 2022. (siliconcanals.com) This financial boost has been directed towards product certification and scaling technology beyond neurosurgery into other medical fields in Europe and the U.S.
Key Positions and Team Expansion: Specific details regarding recent hires or key positions filled since the funding are not publicly disclosed. However, the company's focus on product certification and market expansion suggests strategic recruitment in areas such as regulatory affairs, product development, and sales.
Impact of New Team Members: While exact roles are not specified, the expansion of the team is likely aimed at enhancing product development, ensuring regulatory compliance, and facilitating market entry into new medical sectors. These efforts are crucial for scaling operations and achieving growth objectives.
Changes in Management or Founding Team: There is no publicly available information indicating any major changes in Augmedit's management or founding team since the EIC funding.
In summary, Augmedit B.V. has leveraged its EIC Accelerator funding to secure additional investment, focus on product certification, and plan for expansion into new medical fields, indicating a strategic approach to growth and scaling.
7 The Media Features and Publications
Since receiving EIC Accelerator funding on June 15, 2022, Augmedit B.V. has been featured in several media outlets and has actively participated in various events. Below is a summary of their media features, publications, podcasts or interviews, and conference participations:Media Features:
- Dutch National TV Feature (April 12, 2024): Augmedit's Lumi software was showcased on the Dutch program EenVandaag. Neurosurgeon Maarten Bot from Amsterdam UMC discussed the advantages of their AR software in surgical planning and education. (augmedit.com)
- Silicon Canals Article (November 1, 2022): An article titled "Amsterdam-based medical AR startup Augmedit raises €1M+ Seed funding; also secures €1.7M from EIC" detailed Augmedit's funding achievements and their plans for CE certification and FDA clearance. (siliconcanals.com)
Publications:
Augmedit has been mentioned in various publications since June 15, 2022. Notable mentions include:
- Silicon Canals (November 1, 2022): The article highlighted Augmedit's seed funding and EIC grant, emphasizing their development of AR tools for surgeons. (siliconcanals.com)
- Augmedit's Official News Release (November 1, 2022): Announced the closure of their seed investment round and detailed their product offerings and future plans. (augmedit.com)
Content from Publications:
The publications have covered various aspects of Augmedit's progress:
- Product Development: Details about their Lumi software, which generates holograms from medical imaging for surgical preparation and patient education. (augmedit.com)
- Funding Achievements: Information on securing over €1M in seed funding and a €1.7M grant from the EIC Accelerator program. (siliconcanals.com)
- Future Plans: Plans to obtain CE certification and FDA clearance for their products and to expand their technology beyond neurosurgery. (augmedit.com)
Podcasts or Interviews:
Specific podcasts or interviews featuring Augmedit's team since June 15, 2022, are not readily available in the provided sources.
Conference and Fair Participations:
While specific details about conference participations since June 15, 2022, are not available in the provided sources, Augmedit has a history of engaging in industry events. For instance, in June 2019, their CMO, Tristan van Doormaal, discussed Augmedit, Augmented Reality, and Artificial Intelligence during a keynote session at HIMSS Health 2.0 in Helsinki. (augmedit.com)
Event Involvement:
Details about Augmedit's involvement in events since June 15, 2022, are not specified in the provided sources.
For the most current information on Augmedit's activities, including media features, publications, interviews, and event participations, it is recommended to visit their official website or contact them directly.