1 The EIC Accelerator Project

The EIC Accelerator program is a pivotal initiative by the European Innovation Council designed to support small and medium-sized enterprises (SMEs) and startups across Europe, particularly in the DeepTech and innovative sectors. The program aims to facilitate the development and scaling of groundbreaking technologies, addressing significant societal challenges while fostering economic growth and job creation.

Funding Structure

The EIC Accelerator provides a unique blended finance mechanism that combines both grant funding and equity investment. Specifically, it offers grants of up to €2.5 million, which can be utilized for various project-related expenses including research and development, prototyping, and market entry strategies. This grant component is crucial as it allows companies to mitigate risks associated with early-stage innovation.

In addition to grants, the EIC Accelerator offers equity investments of up to €15 million until 2024, after which the cap will be adjusted to €10 million. This equity funding is designed to help innovative companies scale their operations and enhance their market position, bridging the financial gap often encountered during the transition from prototype to commercial product.

Purpose in the Ecosystem

The EIC Accelerator plays a significant role in the European DeepTech and startup ecosystem by providing financial support to high-potential companies that are likely to create considerable economic and societal impact. These funds are essential in catalyzing private investments, as they serve as a validation of the technology and business model, thereby attracting additional funding from venture capitalists and other private investors. This is particularly important in sectors where high upfront costs and long development timelines are common, such as robotics, biotechnology, and advanced materials.

Contribution to Scaling Companies

By offering a combination of grants and equity investment, the EIC Accelerator helps companies like AGADE srl navigate the complex landscape of scaling. The program not only provides financial resources but also offers mentorship, networking opportunities, and access to a community of innovators and investors. This holistic support system empowers companies to refine their business strategies, enhance their operational capabilities, and ultimately achieve a sustainable market presence.

Case Study: AGADE srl and Project AGADE

AGADE srl, an Italian company focused on developing innovative exoskeleton technologies, is a notable winner of the EIC Accelerator. The project, referred to by the acronym AGADE (Anti-Gravity Active Device for Exoskeletons), aims to address a critical issue in the logistics, retailing, and manufacturing sectors: the prevalence of work-related musculoskeletal disorders (MSDs).

Technology Basics and Background

The AGADE project is centered around the creation of an advanced exoskeleton designed to significantly reduce the physical strain on workers who perform repetitive, heavy lifting tasks. Traditional exoskeletons often fall short in providing the necessary support without compromising mobility and comfort. AGADE’s innovative approach leverages anti-gravity technology, which enables the device to counteract the weight of the object being lifted, thereby minimizing the physical toll on the user’s body.

The foundation of the AGADE technology lies in its sophisticated sensor and actuator systems that dynamically adjust to the user's movements in real-time. This ensures that the exoskeleton provides optimal support and enhances the user's natural capabilities rather than hindering them. The device is designed to be lightweight, customizable, and user-friendly, making it suitable for a variety of applications within the target sectors.

By integrating advanced materials and smart technologies, AGADE aims to foster a safer work environment, reduce the incidence of MSDs, and ultimately improve productivity and worker satisfaction. The project not only holds promise for enhancing individual well-being but also represents a significant advancement in workplace ergonomics and safety.

In conclusion, the EIC Accelerator program plays a crucial role in empowering innovative companies like AGADE srl, providing the necessary financial and strategic support to scale their groundbreaking technologies. The successful implementation of the AGADE project can significantly impact the logistics, retailing, and manufacturing sectors, demonstrating the potential of innovative solutions to address pressing societal challenges.

2 The Funding Rounds

Financing Raised by AGADE srl

AGADE srl, an Italian company specializing in exoskeleton technology, has secured several rounds of financing since its EIC Accelerator win in October 2021.

Funding Rounds and Timing

• October 2021: AGADE was awarded funding through the European Innovation Council (EIC) Accelerator program, securing approximately €1.8 million.
• February 2022: The EIC Fund participated in a further investment round; however, the amount for this specific round is not publicly disclosed.
• May 23, 2023 – Series A/Early VC Round: AGADE closed a significant Series A (Early VC) funding round totaling approximately €4 million. This is the largest disclosed investment to date and marked a pivotal milestone for bringing their Agadexo Shoulder product to market.

Investors

The May 2023 Series A/Early VC round saw participation from several notable investors:

• CYSERO EuVECA Fund, promoted by AVM Gestioni SGR S.p.a., acting as lead investor
• Kilometro Rosso (Science and Technology Park of Bergamo)
• Brembo
• CDP Venture Capital, via its Industry Tech sector of Corporate Partners I fund
• EIC Fund
• 360 Capital Partners
• Generaimprese

These investors represent a mix of venture capital firms, corporate partners with industrial backgrounds, and strategic innovation funds.

Company Valuations

As of May 2023, Dealroom.co estimated AGADE’s enterprise valuation to be between $18 million and $26 million USD. This estimate coincides with their most recent major funding event.

Exit Events

There are no reported exit events such as IPOs (Initial Public Offerings), buyouts, or acquisitions involving AGADE srl up to April 24, 2025. The company continues to operate independently with ongoing growth fueled by venture capital investments.

Summary Table: Key Funding Information for AGADE srl

Date	Round	Amount Raised	Lead Investors/Participants
Oct 2021	EIC Accelerator	~€1.8M	European Innovation Council
Feb 2022	Early-stage	Not Disclosed	EIC Fund
May 23, 2023	Series A / Early VC	~€4M	CYSERO EuVECA (AVM Gestioni), Kilometro Rosso, Brembo, CDP Venture Capital, EIC Fund, 360 Capital Partners, Generaimprese

No public data exists regarding further fundraising rounds or any exits such as IPOs or acquisitions following these events.

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Sources: - Agade closes an investment round A of €4M

• Agade company information & investors on Dealroom.co
• Agade company information & investors on Opportunity Austin
• Agade company information & investors on Dealflow.eu
• Agade was funded by the EIC fund - Nordic9

3 The Press Releases

AGADE srl: Post-EIC Accelerator Funding Developments (2021–Present)

Since securing EIC Accelerator funding in October 2021, AGADE srl has focused on scaling its semi-active exoskeleton technology, optimizing industrial safety solutions, and expanding partnerships. Below are key developments:

Core Technology Advancements

• Agadexo Shoulder: A semi-active upper-limb exoskeleton designed for repetitive manual material handling (e.g., lifting up to 25kg). Features include AI-driven payload recognition via sensorized bracelets, carbon fiber construction for lightweight durability, and hybrid actuators reducing power consumption by leveraging coil springs paired with electric motors.
• Efficiency Gains: The patented semi-active system reduces energy consumption by up to 9× compared to conventional electric motors, enabling lighter battery packs and extended operational autonomy (8 hours per charge).
• AI Integration: Algorithms tailor assistance based on task-specific demands, automatically activating during payload handling while maintaining user mobility.

Partnerships & Industrial Applications

AGADEXO targets sectors like logistics (e.g., palletizing), manufacturing, and food production. Notable collaborations include:

• CLO Servizi Logistici (Lega Coop) and automotive supplier Brembo for field testing.
• Affiliation with Kilometro Rosso innovation district to refine industrial use cases.

Team & Academic Roots

Founded as a Politecnico di Milano spin-off in 2020, AGADE’s team includes mechanical engineers Lorenzo Aquilante (PhD), Daniele Ramirez, Mattia Tabaglio, and biomedical engineers Marta Gandolla (post-doc) and Stefano Dalla Gasperina (PhD candidate). The company originated from a Master’s thesis project under Prof. Francesco Braghin and Prof. Alessandra Pedrocchi, later incubated at PoliHub with grants from Switch2Product competitions.

Intellectual Property & Recognition

Holds patents for its hybrid actuator technology and was selected for the EIC Accelerator’s equity funding program in 2021 due to its disruptive potential in occupational injury prevention.

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Sources

• AGADEXO Shoulder - Exoskeleton Report
• Product - Agade
• A new generation of exoskeletons: AGADE becomes a Startup
• AGADE srl - European Innovation Council

4 The Technology Advancements

Overview of AGADE srl

AGADE srl is an Italian startup, born as a spin-off of Politecnico di Milano, specializing in the development and commercialization of active industrial exoskeletons. The company's main focus is on creating wearable robotic systems that reduce human fatigue in physically demanding industrial environments such as manufacturing and logistics.

Current Capabilities

AGADE's flagship product is the Agadexo Shoulder, a semi-active upper-limb exoskeleton designed to assist workers performing manual material handling tasks. It uses artificial intelligence to recognize and support lifting, carrying, and lowering activities, reducing muscular stress by up to 40% in specific tasks. The Agadexo Shoulder is tailored for handling payloads up to 25 kg and is suitable for industries like manufacturing, automotive, food, logistics, and retail.

Advancements Since EIC Accelerator Funding

After receiving the EIC Accelerator funding in October 2021, AGADE continued to develop innovative exoskeletons focused on reducing injuries in manual load handling. The funding, which included a total "blended" loan of €8.3 million, supported further research and development of IoT-connected industrial exoskeletons. By 2023, AGADE aimed to release the full version of Agadexo, enhancing its technology with a motor/spring hybrid mechanism to minimize power consumption and maximize portability.

Technology Improvements and Market Demonstrations

AGADE has been testing its beta models in real-world settings, which indicates progress in demonstrating their technology in the market. However, specific details on large-scale deployments or customer trials are not widely reported. The company's focus on integrating AI and improving ergonomics suggests ongoing efforts to enhance user experience and safety.

Patents, Studies, and Publications

There is no recent information available on new patents filed by AGADE since the EIC funding. The company's research and development activities are centered around refining its exoskeleton technology, but specific new scientific studies or whitepapers related to these advancements are not mentioned in available sources.

Conclusion

AGADE srl continues to innovate in the field of industrial exoskeletons, leveraging its funding to enhance its technology and prepare for broader market releases. While specific new features or publications might not be fully documented, the company's ongoing development and testing indicate a commitment to advancing wearable robotics for industrial use.

Sources

• Esoscheletri Agade
• Agadexo Shoulder
• AGADE srl - EIC Accelerator data hub
• Profile of the company and contact details
• AGADE srl
• The EIC accelerator selects Agade among the winning startups
• Agade
• About us

5 The Partnerships and Customers

Overview of AGADE srl

AGADE srl is an Italian startup that specializes in the development and production of exoskeletons aimed at reducing work-related muscular disorders. The company emerged from a research project at Politecnico di Milano and was incorporated in 2020. AGADE srl won the EIC Accelerator funding in October 2021, which has been pivotal in its growth and technology advancements.

Partnerships and Collaborations

AGADE srl has established significant partnerships to enhance its operations and technology:

• Panni & Lazzarini – Assemblaggi Industriali: AGADE initiated a collaboration with this company, reflecting its commitment to industrial partnerships.
• CLO Servizi Logistici (from Lega Coop) and Brembo: These collaborations indicate AGADE's focus on integrating its exoskeletons into logistics and manufacturing sectors.
• Kilometro Rosso: A science and technology park in Bergamo, which has been involved in AGADE's growth through joint activities.

Investors and Funding

In May 2023, AGADE closed an investment round A, securing approximately €4 million. The lead investor was the CYSERO EuVECA fund, promoted by AVM Gestioni SGR S.p.a. and Kilometro Rosso. Other participants included Brembo, CDP Venture Capital, EIC Fund, 360 Capital Partners, and Generaimprese. This funding is crucial for scaling and bringing the Agadexo Shoulder product to the market.

New Partners and Customers

While specific new partners or customers are not detailed, AGADE's involvement with various investors suggests a growing network. The company's participation in the EIC Accelerator program also positions it within a broader European innovation ecosystem.

Nature of New Relationships and Positioning in the Market

AGADE srl's new relationships are primarily focused on technology and scaling. The company aims to reduce musculoskeletal stresses in industrial settings, making it an attractive solution for companies seeking to improve worker safety and efficiency. The Agadexo Shoulder exoskeleton combines AI and semi-active technology to minimize power consumption and enhance worker comfort.

Technology Advancements and Scaling

The partnerships and funding received will help AGADE srl advance its technology by integrating AI algorithms and sensorized systems. This will enhance the performance of its exoskeletons, such as the Agadexo Shoulder, which is designed to reduce muscular stress by up to 40%. The funding will also facilitate scaling by supporting market entry and further product development.

Sources

• Agade closes an investment round A of €4M
• Agadexo Shoulder - Exoskeleton Report
• Agade - polimi
• AGADE srl - European Innovation Council

6 The Hiring and Company Growth

AGADE srl: Team Growth and Development

AGADE srl, an Italian company specializing in powered wearable robotics, particularly exoskeletons, was founded in 2020 as a spin-off of Politecnico di Milano. The company received funding from the European Innovation Council (EIC) Accelerator in October 2021. AGADE's primary focus is on developing and commercializing active industrial exoskeletons designed to reduce human fatigue in physically demanding industrial fields like manufacturing and logistics.

Current Team Size

As of early 2023, AGADE srl had approximately 20 employees. However, recent estimates suggest the company's team size could be between 11 and 50 people.

Hiring and Team Growth

AGADE srl has been actively expanding its team. The company's job offerings and career opportunities are available on platforms like their official website and FactorialHR. While specific details about recent hires are not widely available, the company's growth is supported by its focus on innovation and technological advancements in exoskeleton technology.

Key Positions and Future Growth

AGADE's hiring process likely focuses on roles that support its mission to integrate innovative robotic technologies into manual tasks. Key positions might include engineers specializing in robotics or AI, given the hybrid active and passive systems used in their exoskeletons. New team members would be crucial for scaling the company's operations, enhancing product development, and expanding its market presence. Their expertise would contribute to refining AGADEXO, the company's flagship exoskeleton product, aimed at reducing physical effort in industrial settings.

Major Changes in Management or Founding Team

There are no reported major changes in AGADE's management or founding team since receiving the EIC Accelerator funding in October 2021. The company continues to operate as a spin-off of Politecnico di Milano, maintaining its focus on collaborative robotics and exoskeleton development.

Future Outlook

AGADE srl's growth and team expansion are pivotal for its future success. By integrating new talent and technologies, the company can enhance its product line, increase market reach, and fulfill its vision of transforming workplaces with innovative robotic solutions. The recent funding and ongoing development efforts position AGADE as a promising player in the exoskeleton industry, poised to address the needs of workers in various sectors.

Sources

• AGADE srl - European Innovation Council
• AGADE srl - Exoskeleton Report
• Esoscheletri Agade - The first semi-active exoskeleton
• AGADE SRL S Company Profile
• Profile of the company and contact details - EU-Japan Centre
• AGADE Srl - Job offers, offices and team
• Agade company information, funding & investors
• Agade - Politecnico di Milano

7 The Media Features and Publications

AGADE Srl: An Italian Exoskeleton Developer

AGADE Srl, an innovative Italian startup, has been making significant strides in the field of exoskeleton technology since its inception. As a spin-off of Politecnico di Milano, AGADE was founded with the mission to develop and manufacture next-generation exoskeletons that enhance comfort and reduce physical effort, particularly for workers in industries such as logistics, construction, and manufacturing.

Media Features and Publications

AGADE Srl has been featured in various publications and reports, particularly in the context of its exoskeleton technology and its impact on industrial applications. One notable publication is the Exoskeleton Report, which highlights AGADE's semi-active upper-limb exoskeleton, Agadexo Shoulder, designed to reduce muscular stress during manual material handling tasks. The report mentions that Agadexo Shoulder can reduce muscular stress by up to 40% for specific tasks involving payloads of up to 13 kg. Another relevant publication discusses the involvement of AGADE researchers in studies on industrial exoskeletons, including low back exoskeletons in Industry 5.0.

Podcasts and Interviews

There is no specific information available about podcasts or interviews featuring AGADE Srl's team. However, given the company's focus on innovation and technology, it is likely that such appearances could occur in future industry-focused podcasts.

Conference and Fair Visits

AGADE Srl's involvement in conferences and fairs is crucial for showcasing its innovative exoskeleton solutions. Although specific details about their participation in these events are not readily available, the company's presence at industry-related conferences would be a logical step to promote their products and engage with potential clients.

Events and Involvement

AGADE Srl's selection for the EIC Accelerator program in October 2021 marked a significant milestone in their growth. This funding and recognition highlight the company's potential in the European innovation landscape, positioning them well for future technological developments and market expansion.

Sources

• Agadexo Shoulder - Exoskeleton Report
• Low Back Exoskeletons in Industry 5.0
• AGADE srl - Exoskeleton Report
• Esoscheletri Agade
• Towards a Functional Performance Validation Standard for Industrial