1 The EIC Accelerator Project

The EIC Accelerator program is a vital component of the European Innovation Council (EIC), designed to support small and medium enterprises (SMEs), particularly in the DeepTech and startup sectors, that are working on groundbreaking innovations. The program focuses on providing funding to high-risk, high-potential companies in the form of both grants and equity investments, aiming to bolster their growth and facilitate their entry into the market.

Funding Structure

The EIC Accelerator offers a unique funding structure that includes both grants and equity investments.

Purpose within the Ecosystem

The EIC Accelerator plays a crucial role within the European DeepTech and startup ecosystem. Its primary purpose is to bridge the funding gap that often exists for innovative companies, particularly those engaged in high-risk technological advancements. By providing substantial financial resources, the program encourages companies to scale their operations, develop their technologies further, and ultimately bring their innovations to market.

The EIC Accelerator also facilitates connections between startups and private investors, thereby enhancing access to additional funding sources. This support is critical for companies to achieve commercial viability and sustainability, ensuring that Europe remains at the forefront of technological advancements.

Case Study: AVATAR MEDICAL

Company Overview

AVATAR MEDICAL, a French company, is a notable winner of the EIC Accelerator program. Their project, known by the acronym AVATAR, aims to revolutionize how medical images are utilized by surgeons. The project was submitted as a Step 2 proposal on October 5, 2022, and subsequently won approval during the Step 3 interview.

Project Description

The AVATAR project is centered on "Unlocking the Power of Medical Images for Surgeons." The initiative focuses on developing advanced visualization tools that allow surgeons to interact with medical images in a more intuitive and effective manner. By leveraging cutting-edge technology, AVATAR MEDICAL seeks to enhance surgical planning and execution, ultimately improving patient outcomes.

Technology Background

The technology underpinning the AVATAR project involves sophisticated image processing algorithms that transform traditional 2D medical images into interactive 3D models. This advanced visualization capability enables surgeons to better understand complex anatomical structures before and during surgical procedures.

The technology's foundation lies in artificial intelligence (AI) and machine learning (ML), which facilitate the automatic generation of 3D visualizations from standard imaging data. Surgeons can manipulate these models in real-time, allowing for a more nuanced and detailed understanding of the surgical site. This interactive approach aids in pre-operative planning, intra-operative navigation, and post-operative assessment.

Conclusion

The EIC Accelerator program, through its grant and equity funding, plays a pivotal role in empowering innovative companies like AVATAR MEDICAL. By supporting projects that harness advanced technologies to improve healthcare outcomes, the EIC contributes significantly to the advancement of the European startup ecosystem, fostering a culture of innovation and collaboration that is essential for tackling the challenges of modern society.

2 The Funding Rounds

# AVATAR MEDICAL: EIC Accelerator Winner's Funding Journey

AVATAR MEDICAL, a Paris-based company with additional offices in Mountain View, California, has developed technology that creates patient avatars to help surgeons prepare for surgeries. Their solution instantly generates interactive 3D representations of patients based on standard medical images in immersive virtual reality.

EIC Accelerator Funding

AVATAR MEDICAL received the EIC Accelerator funding following the October 5, 2022 cut-off, where they were among the 78 companies selected from 1,092 applications. This represents a highly competitive 7.14% success rate for that funding round. The European Innovation Council (EIC) Accelerator program offers grants of up to €2.5 million combined with equity investments through the EIC Fund ranging from €500,000 to €15 million.

According to the available information, AVATAR MEDICAL received €2.5 million from the EIC Accelerator program in October 2022. The company intended to use this funding to accelerate the development of their immersive 3D solution for shorter, safer, and less invasive surgeries.

Total Funding History

AVATAR MEDICAL has raised a total of approximately $6.69 million (€6.1 million) across multiple funding rounds:

Pre-Seed Funding:

April 2021: €1.2 million from undisclosed investors

Seed Funding:

February 2024: $5.4 million (approximately €5 million) led by GO Capital

Investor Information

AVATAR MEDICAL has attracted diverse investors across its funding rounds: Institutional Investors:

• GO Capital (Lead investor in Seed round)
• Acorn Pacific Ventures
• Plug and Play
• Rives Croissance
• Cenitz

Notable Individual Investors:

15 radiologists and surgeons participated in the February 2024 seed funding round, demonstrating strong support from medical professionals who would use the technology

Valuation and Exit Events

No specific valuation figures for AVATAR MEDICAL have been disclosed in the available information. Additionally, there have been no reported exit events such as IPOs, buyouts, or acquisitions involving the company as of May 2025.

Recent Developments

In Summer 2023, AVATAR MEDICAL received FDA clearance for their product, which can serve as an aid in preoperative planning or for use during interventional procedures. The 510(k) clearance followed four years of research in human interaction, with more than 100 physicians using the VR goggles across 20 different institutions.

Following their February 2024 seed funding round, CEO Xavier Wartelle stated that the money would help AVATAR MEDICAL launch its commercialization efforts and accelerate sales to medical schools in France and the U.S.

Additional Support

Beyond financial backing, AVATAR MEDICAL has benefited from participation in accelerator programs:

• The company was a semi-finalist in the EIT Health Catapult Digital Health category in 2021
• Founder and COO Elodie Brient-Litzler noted that the pitch training received through EIT Health helped them secure the EIC grant

Sources: - https://startups.climate-kic.org/companies/avatar_medical

• https://investny.org/companies/avatar_medical
• https://eithealth.eu/news-article/four-more-eit-health-supported-start-ups-gain-eic-grants/
• https://radiologybusiness.com/topics/healthcare-management/healthcare-economics/startup-creates-avatars-ct-mr-images-raises-54m-radiologists-and-investors
• https://www.eit.europa.eu/news-events/news/four-more-eit-health-supported-start-ups-gain-eic-grants
• https://www.seedtable.com/startups/avatarmedical-ai

3 The Press Releases

Avatar Medical: EIC Accelerator Winner

Avatar Medical, a French company, secured €2.5 million in funding as a laureate of the European Innovation Council (EIC) Accelerator program. This recognition occurred during the October 2022 cut-off, a highly competitive round with over 1,000 applicants, where only 78 companies were selected.

Company Overview

Avatar Medical is a spin-off of the prestigious Institut Pasteur and Institut Curie, both renowned for their scientific contributions. Founded in July 2020 by a team of French scientists and entrepreneurs, the company focuses on integrating medical imaging into surgical practices. They achieve this by providing interactive 3D patient representations, or "avatars," using virtual reality (VR) to enhance surgical planning and communication.

Technology and Innovations

Avatar Medical's technology allows surgeons to interact with 3D models of patients' anatomy before surgery, aiming to make procedures less invasive and improve patient recovery times. They are also developing an augmented reality experience to support surgeons during operations. The EIC funding will accelerate the migration of their technology to the cloud, enhancing access to 3D image visualization within hospitals and advancing core rendering technology.

Partnerships and Recognition

Avatar Medical has partnered with FX Shoulder Solutions to transform surgical planning in shoulder arthroplasty. Additionally, they have been recognized with several awards, including being named a "Rising Star of 2021" and receiving the Prix Coup de Coeur at StartupDM Day. They were also selected to present at the EIT Health Catapult 2021, further highlighting their innovative approach to healthcare.

Future Plans

In 2023, Avatar Medical is expected to pursue FDA certification and submit a CE Mark application. They also plan to launch their first orthopedic clinical application, marking significant milestones in expanding their technology's reach and impact.

Press Releases and Updates

Avatar Medical regularly updates their website with press releases and news regarding awards, partnerships, and advancements in medical technology. Their involvement in prestigious programs like the EIC Accelerator and their participation in events such as Laval Virtual Europe 2022 demonstrate their commitment to innovation in healthcare.

Sources

• Awards - Avatar Medical
• Avatar Medical obtains 2.5M€ as a laureate of the EIC Accelerator
• EIC Accelerator winners and statistics October 2022
• Four more EIT Health-supported start-ups gain EIC grants
• AVATAR MEDICAL, laureate of the EIC Accelerator

4 The Technology Advancements

Avatar Medical's Post-EIC Accelerator Advancements in Surgical Imaging Technology

Since securing €2.5 million from the European Innovation Council (EIC) Accelerator in February 2023, Avatar Medical has accelerated its mission to transform surgical planning and patient care through immersive 3D imaging. The Paris-based medtech, spun out of Institut Curie and Institut Pasteur, has achieved several critical milestones in technology development, regulatory approvals, and clinical adoption.

Core Technological Advancements

The company migrated its rendering technology to the cloud using EIC funding, enabling faster access to 3D visualizations across hospitals. This shift supports real-time collaboration among surgeons during consultations and interdisciplinary meetings. Additionally, Avatar Medical enhanced its core rendering algorithms to improve interactivity and precision for complex anatomical structures.

A key innovation includes brAIn™ SPS, an AI-driven shoulder positioning system developed with FX Shoulder Solutions. This tool uses machine learning to refine surgical planning data over time based on aggregated case data. The solution received FDA 510(k) clearance for brain applications in March 2025, complementing earlier FDA approval for its VR surgical planner in June 2023.

Regulatory and Commercial Expansion

Following CE marking for Avatar Medical Vision in early 2025, the company began marketing its VR/XR platform across Europe. The certification enables use throughout patient care pathways:

• Preoperative consultations: Patients visualize their anatomy via interactive avatars to better understand procedures.
• Surgical planning: Surgeons manipulate patient-specific 3D models to simulate interventions.
• Intraoperative support: AR overlays are under development for real-time guidance during surgery^.

Institut Curie became the first hospital globally to adopt the technology in 2021, with subsequent pilots conducted at Marie Lannelongue Hospital (visceral aneurysms) and U.S. academic centers specializing in orthopedic training[^. Clinical results were presented at major conferences like Paris Vascular Insights (2022) and New York’s Veith Symposium (2022)[^.

Intellectual Property & Research Outputs

While no new patents are explicitly disclosed post-EIC award, Avatar Medical published three senology case studies with Institut Curie detailing improved tumor localization accuracy using their platform[^. Collaborative whitepapers on vascular applications were also presented at industry events through partnerships with medical device manufacturers working on dedicated clinical modules ([^. No peer-reviewed studies or trial registries are publicly listed as of mid-2025.

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Sources

• [AVATAR MEDICAL Receives FDA Clearance For Virtual Reality Surgical Planning [Business Wire]
• CE Marking Announcement [Institut Curie]
• brAIn SPS FDA Clearance [BioSpace]

– Migration to Cloud Infrastructure [Institut Pasteur]

5 The Partnerships and Customers

Avatar Medical: Partnerships and Growth Since EIC Accelerator Funding

Since receiving the EIC Accelerator funding in October 2022, Avatar Medical, a French company specializing in 3D medical imaging and AI-based solutions, has made significant strides in partnerships, customer acquisition, and technological advancements.

Partnerships

Avatar Medical has established several notable partnerships, reflecting its growth and influence in the healthcare technology sector:

• FX Shoulder Solutions: This collaboration combines FX's precision shoulder implants with Avatar Medical's 3D visualizations and AI-powered tools to enhance surgical planning for shoulder arthroplasty, aiming to provide a state-of-the-art solution named brAIn Shoulder Positioning. The partnership is anticipated to receive FDA clearance by mid-2025, marking a significant expansion into the orthopedic implant market.
• Major American Academic Centers: Avatar Medical has initiated collaborations with prominent institutions such as Rush University, Stanford, Cleveland Clinic, and CUNY in New York. These partnerships underscore the company's commitment to advancing surgical practices through its innovative solutions.
• Over 100 Healthcare Institutions: As of October 2023, Avatar Medical has secured partnerships with more than 100 healthcare institutions. Notable partners include Johns Hopkins, Cleveland Clinic, and Mayo Clinic, which have contributed to enhancing the company's market presence and credibility.

New Customers and Partners

While specific names of new customers are not detailed, the company's partnerships with major healthcare institutions indicate an expansion of its customer base. The collaboration with FX Shoulder Solutions highlights the company's strategy to engage with specialized medical device manufacturers, potentially leading to new customer relationships within the orthopedic sector.

Nature and Purpose of New Relationships

The partnerships and collaborations established by Avatar Medical are designed to enhance surgical planning and training using advanced 3D visualization and AI technologies. These relationships aim to leverage the strengths of each partner to improve surgical outcomes, reduce complications, and streamline preoperative workflows.

Market Positioning

These new relationships position Avatar Medical as a leader in the virtual reality (VR) medical imaging market, which is projected to experience significant growth, reaching approximately $5.1 billion by 2026. The company's focus on innovative technology and strategic partnerships enhances its market presence, particularly in regions with advanced healthcare technology adoption.

Technology Advancements and Scaling

The partnerships and funding will facilitate Avatar Medical's technological advancements by:

• Enhancing Surgical Simulations: Through collaborations like the one with FX Shoulder Solutions, Avatar Medical continues to refine its surgical simulation tools, improving the precision and efficacy of surgical procedures.
• Expanding Cloud Infrastructure: Avatar Medical's recent funding will enable the company to accelerate the migration of its solutions to the cloud, enhancing accessibility and scalability for its VR medical imaging platforms.
• Global Expansion: The partnerships and funding support Avatar Medical's expansion into the U.S. and European markets, where it is developing its cloud-based solutions and seeking regulatory approvals such as the CE mark for Europe.

Sources

• Avatar Medical Partners with FX Shoulder Solutions
• Startup that creates avatars via CT, MR images raises $5.4M from radiologists and investors
• Avatar Medical’s imaging technologies already used internationally
• AVATAR MEDICAL BCG Matrix
• AVATAR MEDICAL Marketing Mix Analysis

6 The Hiring and Company Growth

Avatar Medical, a French-American medtech startup founded in 2020, has shown notable team growth and development since receiving EIC Accelerator funding in October 2022.

Team Growth and Current Headcount

• Avatar Medical was initially founded by a team of five core members comprising entrepreneurs, physicists, engineers, and surgeons. This founding team includes CEO Xavier Wartelle, CTO Mohamed El Beheiry (PhD), COO Elodie Brient-Litzler (PhD), CSO Jean-Baptiste Masson (PhD), and CRO Marie Buhot-Launay.
• As of early to mid-2024, the company has expanded beyond this founding group to include several additional key leadership roles such as VP Engineering Nicolas Philippon, VP Regulatory and Clinical Affairs Adeline Francois, Head of Product Pauline Cassagnou alongside multiple medical experts serving as advisors or collaborators.
• Although an exact total headcount is not explicitly stated in the available information, the presence of multiple vice presidents and specialized roles suggests a medium-sized startup likely between 20 to 50 employees or more. The company continues hiring actively for key positions reflecting their growth ambitions.

Hiring Status & Recent Key Positions

• Following their €5 million Seed Round funding earlier in 2024 aimed at accelerating product rollout globally—including in Silicon Valley—the company has been focused on scaling its technology development teams as well as clinical regulatory expertise.
• Recent hires have included senior engineering leadership (VP Engineering) to strengthen product development capabilities; regulatory affairs leadership critical for navigating FDA clearance processes; clinical affairs specialists; and heads of product management indicating maturing organizational structure poised for scaling operations internationally.

Impact on Company Scaling & Future Outlook

• The new team members enhance Avatar Medical’s ability to accelerate commercial deployment while ensuring compliance with stringent medical device regulations like FDA certification—key for market access in North America and Europe.
• Expanding engineering capacity supports continuous innovation of their Extended Reality imaging solutions tailored for surgical planning across specialties such as oncology and orthopedics.
• Strengthening clinical affairs aligns with addressing complex healthcare integration challenges identified by the company’s roadmap toward seamless adoption by hospitals and surgeons worldwide.

Management or Founding Team Changes

There are no public indications of major changes within the founding or executive management team since winning EIC funding. The founders remain engaged actively with clear assignment of senior operational roles among original co-founders complemented by newly appointed executives responsible for specific functional domains like engineering or regulatory affairs.

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In summary, since winning EIC Accelerator funding in late 2022, Avatar Medical has grown from its initial five-founder base into a broader leadership-driven organization that is actively hiring technical experts essential for scaling up production-ready XR medical imaging technology globally. These strategic hires reflect both confidence backed by fresh investment rounds (€5M seed) and ambition toward expanding market reach while maintaining regulatory rigor required within health tech innovation.

Sources

• Seed Of The Week: Avatar Medical - The French Tech Journal
• Avatar Medical Company Page
• Customer Demographics & Target Market - Canvas Business Model

7 The Media Features and Publications

Overview of Avatar Medical

Avatar Medical, a French company, was announced as a laureate of the European Innovation Council (EIC) Accelerator program in 2022. This prestigious award came with a funding of €2.5 million. The company's ambition is to integrate medical imaging into surgical practices by providing surgeons with virtual reality experiences that allow interaction with 3D patient representations, or "avatars," throughout the patient journey. Avatar Medical also plans to develop augmented reality experiences for use in operating theaters.

Media Features and Publications

Avatar Medical has been featured in several publications and announcements related to its achievements and funding. The company was highlighted for its success at Laval Virtual Europe 2022 and was recognized as one of the top 100 French startups by Dealroom. Additionally, Avatar Medical was named as a semi-finalist in the Catapult Digital Health category in 2021, which helped gain Europe-wide exposure.

Podcasts and Interviews

There is no specific information available about podcasts or interviews featuring the team of Avatar Medical. However, the company has been engaged in various presentations and events that highlight its innovative technologies.

Conference and Fair Visits, Presentations, or Participations

Avatar Medical has participated in several significant events. The company was selected to present its results on visceral aneurysms at the Paris Vascular Insights conference and at the Veith Symposium in New York with the Marie Lannelongue Hospital. Additionally, Avatar Medical won the Grand Prix at Laval Virtual in 2022.

Involvement in Events

In 2023, Avatar Medical planned significant milestones, including pursuing FDA certification and submitting a CE Mark application. The company also aimed to launch its first orthopedic clinical application. These activities demonstrate the company's active involvement in advancing medical technology through various events and regulatory processes.

Sources:

• Awards - Avatar Medical
• Avatar Medical obtains 2.5M€ as a laureate of the EIC Accelerator
• EIC Accelerator winners and statistics October 2022 - Strata.team
• Four more EIT Health-supported start-ups gain EIC grants
• AVATAR MEDICAL, laureate of the EIC Accelerator