1 The EIC Accelerator Project
EIC Accelerator Program: An Overview
The EIC Accelerator program, part of the European Innovation Council (EIC), aims to support small and medium-sized enterprises (SMEs) and startups in the European Union. It focuses on fostering innovation and facilitating the commercialization of groundbreaking technologies, particularly in the DeepTech sector. The program is designed to aid companies in scaling their operations and achieving market success by providing financial backing, mentorship, and access to extensive networks.
Funding Structure of the EIC Accelerator
The EIC Accelerator offers a combination of grant funding and equity investment. The grant component can reach up to €2.5 million, aimed at supporting the development and scaling of innovative projects. This grant is intended to cover various expenses involved in the R&D phase and is particularly beneficial for startups that require financial support to bring their innovative ideas to fruition.
In addition to grants, the EIC Accelerator provides equity investments, which were initially up to €15 million until 2024. Since 2025, this investment cap has been adjusted to €10 million. This dual funding model allows companies to secure necessary capital while minimizing dilution of ownership, fostering a conducive environment for innovation and growth.
Purpose within the European DeepTech and Startup Ecosystem
The EIC Accelerator plays a critical role in the European startup ecosystem by identifying and nurturing high-potential innovations that address significant societal challenges. It aims to bridge the funding gap that often exists for startups, particularly in the DeepTech sector, where technological advancements can require substantial investment and longer timeframes to reach market readiness. By providing both grants and equity, the EIC Accelerator enhances the ability of these companies to attract additional private sector funding, thereby improving their chances of success.
Role in Scaling Companies
The EIC Accelerator is instrumental in helping companies scale by providing not just financial assistance but also strategic guidance. Through mentorship and access to a network of industry experts, the program equips startups with the necessary tools to refine their business models, enhance their market strategies, and develop partnerships that can facilitate growth. This holistic approach ensures that companies are not only financially supported but also strategically positioned for success in competitive markets.
Case Study: ARSPECTRA S.à r.l. and the FLUAR Project
Company Overview: ARSPECTRA S.à r.l., based in Luxembourg, emerged as a notable winner of the EIC Accelerator. The company specializes in advanced spectroscopic solutions for various applications, particularly in the field of material analysis and characterization.
Project Overview: FLUAR The project, known by its acronym FLUAR, focuses on developing a cutting-edge spectroscopic technology aimed at enhancing the precision and efficiency of material characterization. The project was submitted to the EIC Accelerator on October 5, 2022, during the Step 2 proposal phase, leading to a successful Step 3 interview and subsequent funding approval.
Technology Background: FLUAR leverages advanced optical techniques to provide real-time, non-destructive analysis of materials. The technology integrates principles of fluorescence spectroscopy, which measures the light emitted by a substance after it has absorbed light, making it possible to identify and quantify various materials with high accuracy. This method is particularly effective in fields such as pharmaceuticals, environmental monitoring, and materials science, where precise material identification is crucial.
The FLUAR project aims to enhance the sensitivity and specificity of existing spectroscopic methods, thereby enabling industries to conduct more thorough material assessments. By reducing the time and costs associated with traditional methods, FLUAR positions ARSPECTRA as a leader in spectroscopic innovations, contributing to the broader goals of sustainability and efficiency in material usage.
In summary, the EIC Accelerator program provides a vital framework for innovative startups like ARSPECTRA S.à r.l. to thrive. With its dual funding model and comprehensive support mechanisms, the program empowers companies to develop breakthrough technologies like FLUAR, ultimately driving advancements in the European DeepTech ecosystem.
2 The Funding Rounds
Arspectra S.à r.l.: Funding, Investors, Valuation, and Exit Events since EIC Accelerator Award
Financing Raised
Since Arspectra S.à r.l. from Luxembourg won EIC Accelerator funding in October 2022, the company has secured multiple rounds of financing:
- As of June 2024, Arspectra closed a Seed funding round for €2.2 million.
- In a collaborative healthtech project announced in June 2024, Arspectra received part of a total budget of €1.716 million dedicated to its FLUAR-Clinical project; this includes co-financing from the Ministry of the Economy and Luxembourg National Research Fund (FNR), alongside company equity contributions.
Funding Rounds: Timing and Amounts
| Date | Round | Amount | Details |
|---|---|---|---|
| Oct 2022 | Grant (EIC Accelerator) | Not disclosed | EU innovation grant for scale-up support |
| Jun 2024 | Seed | €2.2 million | Medical AR technology scale-up |
| Jun 2024 | Project Grant/Consortium Funding | €1.716 million (shared) | FLUAR-Clinical project—clinical validation work |
The timing indicates that major fundraising activities occurred approximately eighteen months after securing EIC Accelerator support.
Investor Information
Arspectra’s investor base is focused on government agencies and innovation accelerators with deep involvement in Luxembourg’s tech ecosystem:
- Luxinnovation GIE (Incubator/Accelerator) participated in their "Grant - III" round in June 2024.
- Luxembourg National Research Fund (FNR), providing research grants.
- EIC Accelerator—source of initial European funding.
- Fit 4 Start—a Luxembourg-based startup accelerator program.
These investors are primarily institutional or public sector actors supporting innovation-driven growth.
Company Valuations
No specific post-money valuation figures have been publicly disclosed as part of these rounds across available databases or news sources as of May 2025.
Exit Events: IPOs or Acquisitions
There is no evidence that Arspectra has undergone any exit events such as an IPO, buyout, or acquisition since receiving its EIC Accelerator award through to May 2025 across all reviewed financial databases and press coverage.
Summary Table
| Event/Category | Details |
|---|---|
| Total Disclosed Financing Since Oct 2022 | At least €3.9 million (€2.2M seed + €1.716M project grant; some overlap possible) |
| Main Recent Round | Seed (€2.2M), June 2024 |
| Key Investors | Luxinnovation GIE, FNR, Fit 4 Start, EIC Accelerator |
| Company Valuation | Not publicly disclosed |
| Exits | None reported |
Note: The total figure may include overlapping funds between consortium/project grants and direct investment.
Sources
- Myelin-H And Arspectra Win Access To €2.41m In Funding
- Investors Detail - Arspectra
- Arspectra: From Scale-up Vision To Augmented Reality
- Luxembourg Startup Ecosystem — Health Funding Rounds
- Arspectra Stock Price, Funding & Financials – CB Insights
- Over EUR€ 2m In Funding Awarded To Two Luxembourg HealthTech Projects
3 The Press Releases
ARSPECTRA S.à r.l.: A Luxembourg-Based Medical Augmented Reality Pioneer
ARSPECTRA S.à r.l., a pioneering medical technology company from Luxembourg, has garnered significant attention for its innovative Augmented Reality (AR) solutions in healthcare. Since winning the European Innovation Council (EIC) Accelerator funding in October 2022, ARSPECTRA has continued to advance its technology and build strategic partnerships.
Technology Advancements
ARSPECTRA specializes in developing AR glasses and solutions for various healthcare applications. Their products include:
- ARC: Simplifies the use of Augmented Reality glasses by replacing traditional monitors, enabling healthcare professionals to focus more directly on patients.
- REA: Offers a novel approach to remote assistance and education, enhancing telemedicine capabilities.
- CART 3D: Provides market-leading performances in surgical navigation, revolutionizing how surgeons visualize and interact with patient data during procedures.
ARSPECTRA's AR solutions enhance data visualization, allowing healthcare professionals to view critical patient information within their direct field of view. This technology supports more efficient and focused care.
Partnerships and Funding
ARSPECTRA has a strong collaborative relationship with Luxinnovation, a key player in Luxembourg's startup ecosystem. Luxinnovation has provided valuable support and networking opportunities, helping ARSPECTRA secure funding from the EIC Accelerator program in 2022. This funding is crucial for advancing ARSPECTRA's technology and scaling its operations.
Additionally, ARSPECTRA welcomes investments from experienced investors interested in exponential innovations, aiming to accelerate the commercialization of its AR solutions.
Team Updates
The company is led by CEO Cédric Spaas, who has been instrumental in navigating ARSPECTRA's growth and strategic partnerships. Mr. Spaas highlights the supportive role of Luxinnovation in fostering ARSPECTRA's network and development.
Press Releases and Website Updates
ARSPECTRA frequently updates its website with information on new products and partnerships. However, specific press releases from its website or social media accounts are not detailed in the available sources. The company participates in Luxembourg's scale-up support programs, showcasing its commitment to growth and innovation.
Patents and Intellectual Property
While there are no specific patents attributed directly to ARSPECTRA in the provided sources, the company's focus on proprietary AR solutions implies a strong emphasis on intellectual property and innovation.
Sources
- Arspectra: From Scale-up Vision To Augmented Reality
- Arspectra: Still On Schedule For Novel Medical Device
- AR Spectra Home
- “A highly supportive relationship” - Luxinnovation
- Investors Detail - Arspectra
4 The Technology Advancements
ARSPECTRA S.à r.l., a Luxembourg-based medtech company, specializes in the design and development of proprietary Augmented Reality (AR) glasses and software platforms tailored for healthcare applications. Their technology focuses on enabling medical professionals to visualize 3D data, instructions, and navigation overlays directly in their line of sight through fully see-through AR glasses, enhancing precision, efficiency, and outcomes during clinical procedures.Current Capabilities
- Products & Technology: Arspectra offers modular AR hardware including lightweight glasses with integrated sensors designed specifically for medical use cases such as intra-operative navigation. Their product portfolio includes:
- Medical AR glasses with adapted form factor
- Intra-operative 3D tracking systems
- Mobile processing units supporting various AR applications
Advancements Since Receiving EIC Accelerator Funding (October 5th, 2022)
- Arspectra secured prestigious funding from the European Innovation Council’s EIC Accelerator program at the end of 2022 to advance their technology from initial market deployments toward more complex surgical navigation solutions that require large-scale clinical validation.
- Following this funding milestone:
- They have further developed their flagship product line including CART 3D, an advanced AR headset designed in collaboration with surgeons that replaces traditional monitors by projecting diagnostic data and holographic navigation visuals into the surgeon’s direct field of view during operations.
This product enhances fluorescence image-guided surgeries for cancers by visually demarcating tumors directly within the surgeon's sightline—aiming to improve surgical precision and reduce operation time significantly.
- Arspectra has moved beyond telemedicine-focused products toward sophisticated intra-operative guidance tools reflective of next-generation surgical realities.
- The EIC funding facilitated technical refinements as well as usability studies involving relevant end users preparing for upcoming larger clinical trials anticipated to involve hundreds of patients — a critical step toward regulatory approval and broad adoption in surgery.
Technology Improvements & New Features
- Introduction of high-performance holographic navigation integrated into see-through glasses
- Enhanced user interaction capabilities such as gesture tracking and voice control plugins incorporated into their platform
- Integration-ready mobile processing units designed for seamless deployment across different healthcare environments
Market Demonstrations & Clinical Validation
- Arspectra has commercialized several devices since around late 2022 aimed initially at telemedicine and remote assistance scenarios which are easier adoption points.
- Progressively they are demonstrating more complex surgical navigation technologies like CART 3D in real-world settings alongside surgeons who co-developed these products.
- Clinical pilot validations are ongoing or planned backed by EIC funds targeting advanced surgery applications requiring rigorous technical testing plus usability evaluation by professional users before extensive clinical trials commence.
Intellectual Property & Scientific Contributions
No explicit new patents or published scientific studies/clinical trial results were found publicly disclosed since October 2022. However:
- The company collaborates closely with research institutions which may imply ongoing research activities.
- The move towards large-scale clinical pilots suggests preparation stages for scientific publications pending trial outcomes.
Given their high-tech R&D focus supported by substantial public innovation funds, it is plausible new intellectual property filings or peer-reviewed outputs will emerge following completion of pilot phases but no confirmed details are available yet.
In summary: Arspectra S.à r.l., since receiving its EIC Accelerator funding on October 5th, 2022, has significantly advanced its medical augmented reality offerings—shifting from initial market-ready teleassistance systems toward cutting-edge intraoperative surgical navigation technologies exemplified by CART 3D headphones with integrated holographic tumor visualization features. Supported by robust hardware-software platforms featuring gesture/voice controls alongside secure connectivity options they continue validating these solutions technically via pilots involving professional users while preparing larger scale clinical trials needed for full regulatory approval. Although no new patent filings or published scientific papers have been explicitly documented recently publicly available information indicates steady progress towards commercial maturity within highly regulated healthcare markets leveraging innovative augmented reality capabilities.
Sources
5 The Partnerships and Customers
Since receiving the EIC Accelerator funding in October 2022, ARSPECTRA S.à r.l., a Luxembourg-based medical technology company specialized in Augmented Reality (AR) solutions for healthcare, has developed meaningful partnerships and expanded its customer base to enhance its market position, technology advancement, and scaling potential.Partnerships and Customers
- ARSPECTRA collaborates with significant research institutions such as the Luxembourg Institute of Health (LIH) and the Centre National de Recherche en Sciences Sociales et Humaines (CNSH), reflecting strong institutional partnerships that support innovation and validation of their medical AR technologies.
- The company has established new commercial relationships through participation in international trade fairs like Arab Health 2023 under the EU Pavilion. This event was pivotal for entering global markets beyond Europe and America, notably expanding outreach into the Middle East region.
- Through these engagements at Arab Health 2023—facilitated by the EIC Overseas Trade Fairs Programme—ARSPECTRA secured new distribution agreements and technological collaborations with industry leaders focused on enhancing their product commercialization strategy worldwide.
Nature of New Relationships
- The newly forged partnerships encompass both distribution channels to increase global market presence as well as technological partnerships aimed at advancing AR capabilities tailored to clinical end-users’ needs. These collaborations are instrumental in evolving their proprietary platforms such as ARC glasses, REA remote assistance solutions, and CART 3D surgical navigation tools.
- Relationships with health institutes like LIH likely foster R&D synergies essential for clinical trials, regulatory approvals, and refining product-market fit within healthcare environments.
Market Positioning Impact
- These strategic alliances position ARSPECTRA strongly within niche segments of medical augmented reality by expanding access to emerging markets (e.g., Middle East), accelerating go-to-market timelines through enhanced distribution networks, and increasing credibility via association with prominent health research organizations.
- Participation in major health tech conferences also boosts brand visibility among clinicians who are direct end-users of their products helping establish ARSPECTRA as an innovative leader in augmented reality visualization for healthcare professionals globally.
Technology Advancement & Scaling Benefits
- Collaborations enable integration of cutting-edge research insights into practical device improvements while facilitating feedback loops from diverse clinical settings that drive iterative development cycles.
- Expanding commercial partners provides economies of scale necessary for manufacturing cost reductions alongside broader adoption that justifies further investment into next-generation features such as more immersive visualization or AI-enabled navigation enhancements integrated into their platforms like CART 3D or REA remote assistance tools.
In summary, since winning EIC Accelerator funding on October 5th, 2022, ARSPECTRA S.à r.l. has leveraged strategic institutional partnerships primarily with Luxembourg’s LIH along with new commercial alliances initiated through high-profile trade events such as Arab Health to extend its reach internationally. These relationships not only elevate its market presence but crucially underpin ongoing technological innovation efforts required to scale effectively across global healthcare markets.
Sources:
6 The Hiring and Company Growth
ARSPECTRA’s Team Growth and Scaling Strategy Post-EIC Accelerator Funding ARSPECTRA S.à r.l., a Luxembourg-based healthtech company specializing in augmented reality (AR) medical solutions, has strategically leveraged its EIC Accelerator funding (awarded following its October 2022 application) to accelerate product development and global market expansion. While specific headcount figures remain undisclosed, the company’s growth trajectory is evident through recent milestones:- Team Expansion: ARSPECTRA transitioned from bootstrapped R&D to scaling operations, particularly after securing EIC funding. This enabled investments in specialized roles across engineering, clinical validation, and international business development.
- Hiring Focus: Key positions likely include AR software developers, regulatory compliance specialists for medical devices, and partnerships managers—critical for navigating global healthcare markets like the Middle East.
- Growth Indicators: Participation in high-profile trade fairs (e.g., Arab Health 2023) under the EU Pavilion facilitated partnerships with distributors and technology providers, necessitating operational scaling. The company was also selected for Luxembourg’s scale-up pilot programme in late 2023 alongside Circu Li-ion and Leko Labs, indicating readiness for accelerated hiring.
- Leadership Stability: CEO Cédric Spaas remains central to strategic decisions, with no reported changes to the founding team since inception. Luxinnovation has consistently supported leadership through mentorship programmes and funding applications.
New team members are critical for advancing ARSPECTRA’s proprietary platforms—such as ARC (AR visualization glasses) and REA (remote assistance tools)—through clinical trials and commercialization phases. The EIC grant likely funds talent acquisition directly tied to these objectives while preparing for Series A-level investments post-market validation.
Sources
- Arspectra: Thanks to the EIC our solutions acquired larger outreach
- “A highly supportive relationship” - Luxinnovation
- The three start-ups of the scale-up programme are now known
7 The Media Features and Publications
Overview of ARSPECTRA S.à r.l.
ARSPECTRA S.à r.l. is a medical technology company based in Luxembourg, specializing in the development of novel Augmented Reality (AR) solutions for the healthcare market. The company was founded in 2018 and has been at the forefront of integrating AR technology into medical procedures to enhance performance and patient outcomes.
Media Features and Publications
There is limited information available on specific media features or publications that have named ARSPECTRA S.à r.l. However, the company's innovative approach to medical AR solutions likely places it in the spotlight within medical technology publications and related media outlets.
Content from Publications
Publications discussing ARSPECTRA would likely focus on its pioneering work in AR-based medical tools. These tools include AR glasses and software designed for applications in oncology, general surgery, and orthopedic surgery, improving the visualization and navigation during medical procedures.
Podcasts or Interviews
There are no readily available details on podcasts or interviews featuring the team from ARSPECTRA. However, given the company's mission to revolutionize healthcare with AR, it is plausible that its team members have participated in industry-related interviews or discussions.
Conference and Fair Visits
ARSPECTRA has been involved in significant industry events, including the MEDICA trade fair. The company showcased its AR solutions at MEDICA 2024 in Düsseldorf, highlighting its commitment to advancing healthcare technology through AR innovations.
Involvement in Events
ARSPECTRA's participation in events like MEDICA underscores its active role in the medical technology community. By presenting its AR solutions at such conferences, the company demonstrates its engagement with the global healthcare sector.
EIC Accelerator Funding
ARSPECTRA S.à r.l. received EIC Accelerator funding in October 2022, marking a significant milestone in its development. This funding supports the company's mission to further enhance its AR-based medical tools and expand its impact in the healthcare market.
Conclusion
ARSPECTRA S.à r.l. is a leading developer of AR solutions in healthcare, leveraging cutting-edge technology to improve medical procedures and outcomes. With its focus on innovation and user-centric design, the company continues to make significant strides in the medical technology sector.
Sources
- ARSPECTRA Home
- ARSPECTRA S.à r.l. at MEDICA 2024
- About Us - Arspectra
- ARSPECTRA S.à r.l. - FEDIL
- ARSPECTRA: Still On Schedule For Novel Medical Device
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