1 The EIC Accelerator Project

The EIC Accelerator program, part of the European Innovation Council (EIC), serves as a crucial funding mechanism tailored for deep tech startups and small to medium-sized enterprises (SMEs) in Europe. It aims to support innovative companies in developing and scaling groundbreaking technologies, particularly those with the potential to disrupt existing markets or create entirely new ones. The program offers blended finance, combining grant funding and equity investment to facilitate the growth of high-risk, high-potential projects.

Funding Mechanism of the EIC Accelerator

The EIC Accelerator provides substantial financial support, with grants of up to €2.5 million available to cover project costs, alongside equity investments that can reach up to €15 million until 2024. Starting in 2025, the equity cap will adjust to a maximum of €10 million. This funding structure is designed to enable startups to advance their innovations while maintaining sufficient capital for operational expenses, product development, and market entry.

Purpose and Impact on the Ecosystem

The primary objective of the EIC Accelerator is to bridge the funding gap that often hinders the growth of deep tech innovations. By providing both grant and equity funding, the program enhances the attractiveness of these startups to private investors, thereby facilitating further investment opportunities. The EIC Accelerator also fosters collaboration between startups and established companies, research institutions, and other stakeholders, creating a vibrant innovation ecosystem across Europe.

Case Study: Chassis Autonomy SBA AB

Company Overview
Chassis Autonomy SBA AB, a Swedish company, is a notable winner of the EIC Accelerator program. The company has developed a project known as TrueSbW (True Safe-by-Wire), which aims to enhance the safety and reliability of autonomous vehicles through fail-operational systems.

Project Description
TrueSbW focuses on creating a fail-operational safety architecture that ensures autonomous vehicles can continue to operate safely even in the presence of technical failures. This is a critical factor in the development and deployment of autonomous vehicles, as public acceptance and regulatory approval hinge on the reliability of these systems. The funding from the EIC Accelerator will enable Chassis Autonomy to refine their technology, conduct rigorous testing, and prepare for market introduction.

Technology Background and Basics

The TrueSbW project leverages advanced safety protocols and redundant systems to ensure that autonomous vehicles remain operational in the event of component failures. Traditional safety mechanisms often rely on fail-safe designs, which can lead to a complete shutdown of vehicle functions during a fault. In contrast, fail-operational systems are designed to maintain essential operations, allowing vehicles to continue their journey safely or to navigate to a safe stopping point.

The technology entails sophisticated algorithms and hardware architectures that monitor various vehicle systems in real-time, identifying potential failures and executing corrective actions autonomously. By using a combination of sensor fusion, machine learning, and robust communication networks, TrueSbW aims to provide an unprecedented level of safety assurance for autonomous vehicles.

This capability is particularly significant as the automotive industry moves towards more complex automated driving systems. Chassis Autonomy's focus on fail-operational safety aligns with broader industry trends seeking to address safety and regulatory challenges associated with autonomous transport.

Conclusion

The EIC Accelerator program plays a vital role in supporting innovative companies like Chassis Autonomy SBA AB, enabling them to transform ambitious projects like TrueSbW into viable market solutions. By providing blended finance options, the EIC Accelerator not only fosters technological advancement but also strengthens the European startup ecosystem, paving the way for the next generation of autonomous vehicles.

2 The Funding Rounds

Chassis Autonomy SBA AB: Funding and Financing Overview Since EIC Accelerator Award (October 2022)

Chassis Autonomy SBA AB, based in Trollhättan, Sweden, is a technology company specializing in the design and development of steer-by-wire and brake-by-wire systems for highly automated and fully autonomous vehicles. Below is a detailed summary of its financing activities, funding rounds, investors, valuations, and exit-related events since it received EIC Accelerator funding in October 2022.

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Financing Raised & Funding Rounds

• Total Funding Raised: As of the latest public data, Chassis Autonomy has raised approximately $2.66 million across seed rounds.
• Notable Round Post-EIC Accelerator:
• In June–July 2023, Chassis Autonomy entered into an investment agreement with Kongsberg Automotive AS (KA), leading to KA acquiring a significant equity stake.

Timing and Amounts of Funding Rounds

• Seed Rounds: The company’s last known round was classified as "Seed - II," contributing to the total $2.66 million raised. The specific timing for earlier seed rounds was not disclosed.
• Kongsberg Automotive Investment (Mid-2023):
• In June–July 2023, Kongsberg Automotive acquired an initial 20% equity stake via a directed rights issue. This transaction occurred after the non-binding agreement announcement on June 19, 2023. The financial terms (amount invested) were not publicly disclosed.

Investor Information

• Key Investors:
• Kongsberg Automotive AS became a major strategic investor by purchasing a direct stake (20%) with further options to increase its ownership up to full acquisition by or before 2027.
• Details about other individual or institutional seed investors have not been made public.
• KA’s investment also established an exclusive partnership geared towards product development acceleration and market expansion.

Additional Information Related to Recent Funding Activity

• The collaboration between Chassis Autonomy and Kongsberg Automotive centers around technical synergies between their respective technologies—namely fail-operational steer-by-wire systems developed by Chassis Autonomy and electronic clutch actuation from KA.
• Founders Peter Johansson (CEO) and Thomas Li (CTO) remain significant shareholders post-investment; both continue to lead the company's operations after this transaction.

Company Valuations

• While there is no official published valuation from recent funding rounds or transactions:
• Company communications indicate an ambition to reach "a valuation of USD 1 billion" within five years following the July 2023 deal with KA—a clear unicorn target but not yet realized nor substantiated by independent third-party reports at this time.

Exit Events — IPOs & Acquisitions

• As of May 2025:
• There have been no IPOs involving Chassis Autonomy.
• No completed buyouts or acquisitions have been announced; however, Kongsberg Automotive holds staged call options that could allow it to acquire up to full ownership by or before year-end 2027 if exercised—this leaves open the possibility for future exit events but none have occurred so far.

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Summary Table — Key Financing Events Since October 2022 Cut-off

Event / Round	Date	Amount Disclosed	Investors/Participants	Ownership Outcome
Seed I/II	Pre-July 2023	~$2.66M total	Undisclosed	Not specified
Strategic Equity Purchase	June–July 2023	Not disclosed	Kongsberg Automotive AS	Initial acquisition: ~20% equity; call options up to full control before end of FY27

</em>Combined figure for all early-stage fundraising prior to strategic partnership.

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Exit Status as of May 02, 2025

No IPO has taken place. No buyout or acquisition has closed yet—though one strategic investor holds staged rights for future majority control.

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Sources

• Chassis Autonomy – CB Insights
• Press Release – Chassis Autonomy enters into investment agreement with Kongsberg
• Kongsberg Automotive completes share purchase in Chassis Autonomy

3 The Press Releases

Chassis Autonomy SBA AB: Strategic Partnerships and Technological Milestones Post-EIC Accelerator Funding

Chassis Autonomy, a Swedish deep-tech startup headquartered in Trollhättan with an R&D center in London, secured significant funding from the European Innovation Council (EIC) Accelerator in December 2022. The company was awarded €2.5 million (as per specific grant details) as part of a larger €470 million funding pool distributed across 78 selected startups from over 1,000 applicants.

Key Developments

• Fail-Operational Technology: Chassis Autonomy specializes in steer-by-wire and brake-by-wire systems designed for autonomous vehicles (L3-L5). Their proprietary technology ensures continuous steering functionality even during system failures, eliminating the need for emergency stops.
• Kongsberg Automotive Partnership: In July 2023, Kongsberg Automotive acquired a 20% stake via a directed rights issue and secured call options to acquire full ownership by 2027. The collaboration focuses on integrating fail-operational systems into autonomous road and agricultural vehicles.
• Unicorn Ambition: The company aims to achieve a $1 billion valuation within five years, leveraging its patent-protected technology across automotive and heavy machinery sectors.

Compliance & Outreach

Chassis Autonomy is fulfilling EU-mandated information obligations under Horizon Europe by educating stakeholders about fail-operational safety through LinkedIn campaigns tailored for B2B audiences.

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Sources

• PRESS RELEASE – EIC Accelerator awards major funding to Chassis Autonomy
• Kongsberg Automotive completes share purchase in Chassis Autonomy
• LinkedIn Guide for Meeting EU Funding Obligations

4 The Technology Advancements

Chassis Autonomy SBA AB: Post-EIC Accelerator Progress (2022–Present)

Since securing €6.5 million in combined grants and equity from the European Innovation Council (EIC) Accelerator in December 2022, Chassis Autonomy has focused on advancing its fail-operational steer-by-wire technology for autonomous vehicles (L3-L5), while laying the groundwork for brake-by-wire systems. The funding accelerated their roadmap toward series production, with emphasis on safety and redundancy critical for fully driverless operations.

Core Technological Advancements

• Steer-by-Wire System: Their flagship product remains a fault-tolerant design that maintains steering functionality even during system failures, addressing a key safety gap in autonomous vehicles. The EIC award specifically supported scaling this technology to meet EU regulatory standards like Article EU 2021/1426.
• Brake-by-Wire Development: While still secondary to steer-by-wire, the company has allocated resources to develop a complementary fail-operational braking system essential for full vehicle autonomy.

Market Presence and Demonstrations

Public disclosures indicate no customer pilots or large-scale demonstrators post-funding. However, strategic partnerships have emerged:

• Kongsberg Automotive Investment: In July 2023, Kongsberg Automotive acquired a 20% stake in Chassis Autonomy to integrate its systems into road and agricultural vehicles. This partnership aims to leverage Kongsberg’s manufacturing expertise for commercialization.
• Regulatory Alignment: The EIC funding reinforced their role as an EU strategic partner for autonomous vehicle safety standards, though specific pilot programs remain undisclosed.

Intellectual Property and Publications

• Patent Portfolio: Existing patents protect their fail-operational steering architecture, but no new filings are publicly documented since 2022.
• Whitepapers/Studies: No peer-reviewed studies or whitepapers are cited in available materials; however, co-founder Thomas Li emphasized their compliance-driven approach during the EIC award announcement" class="inline-link" target="_blank" rel="noopener noreferrer">^\[^\].

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Sources

• PRESS RELEASE – EIC Accelerator awards major funding to Chassis Autonomy [December 19, 2022]
• Kongsberg Automotive Invests in NEVS Spin-off [July 19, 2023]
• Products - Steer-by-Wire & Brake-by-Wire Systems [Archived as of latest crawl]
• Brake-by-Wire System Global Market Report [Market context only]

5 The Partnerships and Customers

Chassis Autonomy SBA AB: Partnerships and Market Positioning

Chassis Autonomy SBA AB, a Swedish company specializing in the design and development of steer-by-wire and brake-by-wire systems for highly automated and fully autonomous vehicles, has established significant partnerships since its EIC Accelerator funding in October 2022.

Partners and Customers

Chassis Autonomy has partnered with several key entities: - Kongsberg Automotive AS (KA): KA acquired a 20% stake in Chassis Autonomy through a directed rights issue in July 2023. The agreement includes call options to acquire up to 100% of the shares by 2027.

Holo, VI-grade, CAE Value, Roben Automotive, TTC Sweden, and Wargia AB are also listed as partners.

New Partners and Customers

Kongsberg Automotive AS is the most recent new partner, marking a significant collaboration in the autonomous driving sector. There is no specific mention of new customers in the available information.

Nature of New Relationships

The partnership with Kongsberg Automotive is focused on leveraging KA's global manufacturing footprint and technical expertise to accelerate the development and commercialization of Chassis Autonomy's steer-by-wire systems. This collaboration aims to enhance Chassis Autonomy's market position in autonomous driving technologies, particularly for Level 3 to Level 5 vehicles.

Market Positioning and Technology Advancements

These partnerships position Chassis Autonomy as a leader in the development of critical actuation systems for autonomous vehicles, enhancing its ability to provide fail-operational solutions that are essential for safety in highly automated and fully autonomous vehicles. The collaboration with Kongsberg Automotive will help Chassis Autonomy scale by accessing KA's extensive industry experience and global supply chain capabilities.

Scaling and Technology Advancements

The partnership with KA will enable Chassis Autonomy to accelerate its product development, particularly in control electronics and software, and move closer to its goal of reaching a valuation of $1 billion within five years. The strategic investment by KA provides Chassis Autonomy with the resources needed to further industrialize its technologies and tap into broader market opportunities across automotive, agricultural, and construction sectors.

Sources

• Chassis Autonomy Enters into a Non-Binding Investment Agreement
• Kongsberg Automotive Completes the Share Purchase in Chassis Autonomy
• About Us - Chassis Autonomy
• Kongsberg Automotive Completes the Share Purchase in Chassis Autonomy
• Kongsberg Automotive Bolsters Autonomous Vehicle Portfolio with Chassis Autonomy Share Acquisition
• KA AND CHASSIS AUTONOMY - Kongsberg Automotive
• Chassis Autonomy, Kongsberg to Develop By-Wire Actuation Systems for Autonomous Vehicles

6 The Hiring and Company Growth

Chassis Autonomy SBA AB: Growth and Development Since EIC Accelerator Funding

Chassis Autonomy SBA AB, a Swedish company specializing in the design and development of steering and braking systems for autonomously driven vehicles, received the EIC Accelerator funding in October 2022. This funding has likely contributed to their growth in the autonomous mobility sector.

Current Headcount and Team Size

While specific details on the current headcount or team size of Chassis Autonomy are not readily available, the company is led by a highly experienced team with significant automotive senior leadership experience. The leadership includes Peter as CEO, Thomas as CTO, and Matthias, along with other key roles such as CFO Dan and Principal Engineer Christian.

Hiring Status

Chassis Autonomy is actively engaged in developing innovative solutions for autonomous vehicles, which suggests ongoing recruitment for specialized roles. However, no specific job listings were found as of the latest updates.

Growth

Since receiving the EIC Accelerator funding, Chassis Autonomy has continued to advance in the development of fail-operational actuation systems, which are crucial for the safety and sustainability of autonomous vehicles. This indicates significant growth in their technological capabilities and market positioning.

Key Positions

Recent key positions include roles like Test Engineer for Vehicle Dynamics, Development Engineer, and roles within the Mechanical Design team. These hires are essential for enhancing their steering and braking systems for autonomous vehicles.

Impact of New Team Members

The addition of new team members, particularly those with experience in automotive engineering and autonomous systems, is vital for Chassis Autonomy's future growth. These experts help the company scale by developing and refining their technology to meet the increasing demand for safe and efficient autonomous mobility solutions. The expertise of new team members aids in advancing product development and ensuring the company remains competitive in the evolving autonomous vehicle market.

Management and Founding Team Changes

There are no reported changes in the management or founding team of Chassis Autonomy since the EIC Accelerator funding. The leadership remains consistent with Peter, Thomas, and other key figures driving the company's vision and growth.

Sources: - Chassis Autonomy: Home

• About us - Chassis Autonomy
• Search Results by Category - MarkLines Automotive Industry Portal

7 The Media Features and Publications

Chassis Autonomy SBA AB: A Leading Deep Tech Company in Autonomous Mobility

Chassis Autonomy SBA AB, based in Sweden, is a pioneering deep tech company specializing in the design and development of innovative steer-by-wire and brake-by-wire systems. These systems are crucial for highly automated (L3) and fully autonomous (L4 and L5) vehicles, agriculture, and construction applications. Chassis Autonomy received funding from the EIC Accelerator program in October 2022, marking a significant milestone in its growth trajectory.

Media Features and Publications

Chassis Autonomy has been featured in various media outlets and publications, primarily for its groundbreaking technology and strategic partnerships. The company's investment agreement with Kongsberg Automotive AS, where Kongsberg acquired a 20% equity stake in Chassis Autonomy, has garnered significant attention. This partnership aims to strengthen collaboration and unlock market potential in the autonomous vehicle sector.

Podcasts and Interviews

While there are no specific podcasts or interviews featuring Chassis Autonomy's team members in the available data, the company's expertise in fail-operational actuation systems is recognized across the industry. Collaborations with simulation experts like VI-grade highlight the company's role in advancing autonomous vehicle technology.

Conference and Event Participation

Chassis Autonomy has participated in significant industry events, including the ZERO PROTOTYPES Summit by VI-grade. During this event, the company presented on "Developing Fail-operational L3, L4, and L5 Chassis Actuation Systems using an Integrated DiL and HiL Approach". Such engagements demonstrate Chassis Autonomy's commitment to innovative solutions and its involvement in shaping the future of autonomous mobility.

Involvement in Events

The company's involvement in events like the CAM (Connected and Automated Mobility) Supply Chain Competition, supported by Innovate UK, further underscores its active role in the autonomous vehicle ecosystem. Chassis Autonomy's participation in such initiatives highlights its dedication to advancing autonomous technologies and fostering collaboration across the industry.

Sources

• Kongsberg Automotive Completes the Share Purchase in Chassis Autonomy, Expanding its Autonomous Driving Product Portfolio
• News - Chassis Autonomy
• Kongsberg Automotive Enters a Non-Binding Agreement to Acquire 20% of Chassis Autonomy
• Chassis Autonomy: Home
• Simulation Experts Collaborate to Advance AV Chassis Development
• Press - Chassis Autonomy
• Chassis Autonomy SBA AB – IRP