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Company Profile

PHARROWTECH

EIC Accelerator Boosts Pharrowtech's Growth in Wireless Technology Innovation

BelgiumEIC Accelerator2024

Table of Contents

  1. The EIC Accelerator Project
  2. The Funding Rounds
  3. The Press Releases
  4. The Technology Advancements
  5. The Partnerships and Customers
  6. The Hiring and Company Growth
  7. The Media Features and Publications

1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC (European Innovation Council) Accelerator program represents a cornerstone of the European Union's strategy to foster innovation and support startups, particularly those involved in deep tech. Designed to bridge the funding gap that often exists for high-potential startups and SMEs (small and medium-sized enterprises), the EIC Accelerator provides both grant and equity funding to help these companies develop their groundbreaking technologies and scale their operations.

Funding Structure

The EIC Accelerator offers a unique blended finance model, which consists of two main components: grants and equity investments.

1. Grant Funding: Companies can receive grant funding of up to €2.5 million. This grant is intended to finance the development and validation of innovative products, services, or processes. The grant can cover various costs associated with technology development, including prototypes, pilot projects, and market-entry strategies.
2. Equity Investments: In addition to grants, the EIC Accelerator provides equity investments to startups, with amounts reaching up to €15 million until 2024. From 2025 onwards, this cap will be reduced to €10 million. This equity component is designed to help startups attract additional private-sector investment by demonstrating credibility and a strong commitment from the European Union.

Purpose of the EIC Accelerator

The primary purpose of the EIC Accelerator is to nurture and support the European startup ecosystem, particularly in the deep tech sector, which encompasses advanced technologies such as AI, robotics, biotechnology, and quantum computing. By providing financial support, the EIC Accelerator aims to:

  • Facilitate Innovation: Help startups bring innovative solutions to market more rapidly, thus contributing to economic growth and job creation.
  • Encourage Scaling: Assist companies in scaling their operations, which is often a significant challenge for startups in the deep tech space.
  • Attract Private Investment: Leverage public funding to attract private-sector investors, thereby multiplying the impact of the initial investment and fostering a vibrant ecosystem of innovation.

Role in Scaling Companies

The EIC Accelerator plays a crucial role in helping companies scale by offering not only financial resources but also access to a network of investors, mentors, and business partners. Through its funding, companies gain the necessary capital to advance their research and development initiatives, validate their technologies, and execute their go-to-market strategies.

Moreover, the EIC provides advisory services that guide startups through the complexities of scaling their businesses, navigating regulatory environments, and optimizing their operations. This holistic approach enhances the likelihood of success for startups, ensuring they are well-equipped to meet the challenges of growth and competition.

Case Study: PHARROWTECH and the SWIFT Project

Company Overview: PHARROWTECH, a Belgian startup, has emerged as a prominent player in the wireless technology domain. The company focuses on developing next-generation wireless chip and antenna technologies aimed at enhancing connectivity standards, particularly in the realm of Wi-Fi 8.

Project SWIFT: The project, acronymed SWIFT, encapsulates PHARROWTECH's commitment to innovating in the wireless communication space. The EIC Accelerator funding was secured through a successful submission of a Step 2 proposal, followed by a winning interview in Step 3, with the proposal submitted on March 13, 2024.

Technology Basics and Background: The SWIFT project aims to pioneer advanced chip designs and antenna systems that can support the next iteration of Wi-Fi technology. As the demand for higher data rates, lower latency, and increased connectivity continues to surge, traditional Wi-Fi technologies face limitations. PHARROWTECH's innovations are designed to address these challenges by:

  • Enhancing Performance: The new chip and antenna technology aims to significantly boost the performance metrics of Wi-Fi networks, enabling faster speeds and more stable connections, even in high-density environments.
  • Energy Efficiency: The technology is designed not only for performance but also to be energy-efficient, reducing the overall power consumption associated with wireless communication.
  • Scalability: The chip designs are adaptable, allowing for integration into a variety of devices, from consumer electronics to industrial applications, thereby broadening the potential market reach.

In conclusion, the EIC Accelerator program plays a pivotal role in supporting innovative startups like PHARROWTECH, offering them the financial resources and strategic guidance necessary to scale their operations successfully. By focusing on next-generation technologies such as those developed under the SWIFT project, the EIC Accelerator significantly contributes to the advancement of the European deep tech ecosystem, enabling companies to thrive in a competitive global market.

2 The Funding Rounds

Pharrowtech: Financing and Funding Overview Since EIC Accelerator Award

Pharrowtech, based in Leuven, Belgium, is a semiconductor company specializing in millimeter wave (mmWave) radio frequency technology for next-generation wireless communications. Since submitting its successful Step 2 proposal to the EIC Accelerator on March 13, 2024, and subsequently winning at the Step 3 interview stage, Pharrowtech has continued to develop and commercialize cutting-edge wireless solutions.

Financing Raised

  • Total Funding Raised: As of May 2025, Pharrowtech has raised approximately $30.57 million across five funding rounds.
  • EIC Accelerator Funding (2024): In July 2024, Pharrowtech secured a combined €7.5 million from the European Innovation Council (EIC) Accelerator program—€2.5 million as a non-dilutive grant and €5 million as equity investment.

Funding Rounds: Timing and Amounts

DateRoundAmountInvestors / Notes
Jan 2018Spinoff/SpinoutN/ACompany formation from imec
Jun 26, 2019Seed VCUndisclosedimec.xpand; Bloc Ventures; KBC Focus Fund
May 12, 2022Series A€15 millionInnovation Industries (lead), plus existing investors
Jul 24, 2024Grant€2.5 millionEIC Accelerator Grant
Jul 24, 2024Series A - II$5.43 million (~€5M)Includes EIC equity investment
  • The latest significant round was in July 2024—a Series A - II extension with $5.43M raised alongside the €2.5M grant from the EIC Accelerator.
  • Earlier major round was in May 2022 with a €15M Series A led by Innovation Industries along with imec.xpand, Bloc Ventures and KBC Focus Fund.

Investor Information

Key investors participating across rounds include: - Innovation Industries

  • imec.xpand
  • Bloc Ventures
  • KBC Focus Fund
  • European Innovation Council (EIC)—grant provider and equity investor since July 2024

The seed round also featured some of these backers who followed on into later stages.

Company Valuation

Dealroom estimates placed Pharrowtech's enterprise valuation between $66–99 million as of May 2022. No further public updates on post-money valuations following recent funding have been disclosed but given continued investor interest—including institutional backing through the EIC—valuation likely increased following subsequent capital injections.

Exit Events

As of early May 2025:

  • There are no reports or announcements regarding an IPO or acquisition/buyout involving Pharrowtech.
  • Pharrowtech remains privately held with backing from venture capitalists and European innovation funders.


    Summary Table: Key Financial Events Since March 13th 2024 Cut-off

    EventDateAmount
    EIC Accelerator GrantJul 24th 24   (announced)  ~€2.5M
    "Series A-II" Extension/Early Growth Equity                 Jul 24th 24                                             
    Note: Dates refer to announcement/public disclosure dates; actual disbursement may be phased.

    Exit & Market Status

    Pharrowtech remains focused on product development for next-generation Wi-Fi chips rather than pursuing exit opportunities at this time.

    Sources

    Additional details about grants:

  • CB Insights summary page
  • 3 The Press Releases

    Pharrowtech: A Leader in mmWave Technology

    Pharrowtech, a Belgian startup, has been making significant strides in the field of millimeter wave (mmWave) technology since its spin-off from imec in 2018. The company specializes in designing and developing mmWave radio frequency solutions for next-generation wireless applications, including fixed-wireless access, wireless VR/AR, and ultra-high capacity wireless links.

    Recent Developments

    In 2024, Pharrowtech secured significant funding from the European Innovation Council (EIC) Accelerator program. The company received €2.5 million in non-dilutive grant funding and €5 million in equity investment to accelerate the development and commercialization of its next-generation Wi-Fi technology, particularly focusing on the 60 GHz band. This strategic investment aligns with Pharrowtech's ambition to secure global leadership in innovative chips for Wi-Fi 8 and beyond.

    Pharrowtech's expansion into North America is another notable development, as it established a new subsidiary, Pharrowtech Inc.,assistant

    Pharrowtech: A Leader in mmWave Technology

    Pharrowtech, a Belgian startup, has been making significant strides in the field of millimeter wave (mmWave) technology since its spin-off from imec in 2018. The company specializes in designing and developing mmWave radio frequency solutions for next-generation wireless applications, including fixed-wireless access, wireless VR/AR, and ultra-high capacity wireless links.

    Recent Developments

    In 2024, Pharrowtech secured significant funding from the European Innovation Council (EIC) Accelerator program. The company received €2.5 million in non-dilutive grant funding and €5 million in equity investment to accelerate the development and commercialization of its next-generation Wi-Fi technology, particularly focusing on the 60 GHz band. This strategic investment aligns with Pharrowtech's ambition to secure global leadership in innovative chips for Wi-Fi 8 and beyond.

    Pharrowtech's expansion into North America is another notable development, as it established a new subsidiary, Pharrowtech Inc., to strengthen its presence in the region. This move aims to capitalize on the strong wireless and semiconductor ecosystems in the U.S., fostering closer relationships with key customers and partners.

    Technology Advancements

    Pharrowtech is at the forefront of developing mmWave circuitry in CMOS, addressing the challenges associated with manufacturing and scaling mmWave solutions. The company's technical expertise spans chip, antenna, and algorithm development, ensuring best-in-class performance and features for its products.

    Partnerships and Funding

    Besides the EIC Accelerator funding, Pharrowtech has attracted significant investment in the past. In 2022, it secured €15 million in Series A funding to further develop its wireless connectivity solutions. The company's partnerships and collaborations with leading wireless communication companies underscore its position as a leader in the high-speed mmWave wireless industry.

    Press Releases and Updates

    Pharrowtech's press releases and updates are typically available on its website and through industry publications. The company's announcements often highlight its technological advancements, funding achievements, and strategic expansions.

    Team Updates

    Pharrowtech's leadership team includes Wim Van Thillo as CEO and co-founder. The company has also appointed experienced professionals to lead its North American operations, such as Christian Plante, who serves as the general manager of Pharrowtech Inc..

    Patents and Intellectual Property

    While specific details on patents are not widely disclosed, Pharrowtech's expertise in mmWave technology and its innovative chip designs are key to its intellectual property portfolio.

    Sources

    4 The Technology Advancements

    Pharrowtech’s Post-EIC Accelerator Funding Trajectory and Current Capabilities

    Current Capabilities
    Pharrowtech specializes in mmWave radio frequency (RF) technology, focusing on RFIC semiconductors, phased antenna arrays, and software solutions for 5G Fixed Wireless Access (FWA), consumer electronics (e.g., VR headsets), and smart city applications. Their flagship products include the PTR1060 CMOS beamforming transceiver chip (supporting 57–71 GHz) and the PTM1060 phased array antenna module, designed for high-speed wireless links with partners like Renesas.


    Advancements Since EIC Accelerator Funding (March 2024)
    Publicly disclosed advancements post-March 2024 are limited. However:

    • Funding Utilization: The EIC Accelerator grant aimed to accelerate Wi-Fi-related innovations, but no specific product launches or feature updates have been announced since March 2024.
    • Market Demonstrations: Prior to bankruptcy proceedings in May 2025, Pharrowtech conducted field trials with Belgian ISP Telenet and other partners, though recent pilot results remain undisclosed.
    • Intellectual Property: No new patents or peer-reviewed studies are publicly documented post-March 2024. Earlier work emphasized CMOS-based mmWave design and manufacturability improvements.

    Bankruptcy Impact on Technology Roadmap
    Pharrowtech filed for bankruptcy in May 2025 due to insufficient commercial traction in FWA markets despite successful trials. The company is currently seeking buyers or relaunch opportunities, halting further R&D disclosures. Pre-bankruptcy efforts included scaling production of its RFICs for cost-sensitive markets like consumer electronics and smart cities.


    Sources

    5 The Partnerships and Customers

    Pharrowtech: Partnerships and Market Positioning

    Pharrowtech, a Belgian company specializing in millimeter-wave (mmWave) technology, has been making significant strides in the wireless communication sector since its inception in 2018. Following its recent success, Pharrowtech continues to expand its operations and strengthen its partnerships.

    Partnerships and Customers

    Pharrowtech has established several notable partnerships that are pivotal in advancing its mmWave technology. One of its significant collaborations is with 8devices, where they jointly announced an advanced 60 GHz PtP/PtMP system for Wireless Internet Service Providers (WISPs) and ready-to-integrate wireless modules for Original Equipment Manufacturers (OEMs). This partnership aims to simplify and accelerate the adoption of mmWave technology, enhancing its capabilities for high-bandwidth wireless applications.

    Pharrowtech has also engaged in successful collaborations with leading wireless communication companies, including trials with Telenet, a major Belgian Internet Service Provider (ISP).

    New Partnerships and Customers

    While specific details about new partnerships or customers since the EIC Accelerator funding are not available, Pharrowtech's expansion into North America indicates a strategic move to foster relationships with new customers and partners in the region. The appointment of Christian Plante as General Manager for North America underscores the company's commitment to growing its presence in key markets like wireless infrastructure, Wi-Fi, consumer electronics, and smart city IoT applications.

    Nature of New Relationships

    Pharrowtech's new relationships, particularly its expansion into North America, are designed to leverage the region's strong wireless and semiconductor ecosystems. This strategic move positions Pharrowtech closer to its existing North American customers and semiconductor partners, particularly in Silicon Valley.

    Market Positioning

    Pharrowtech's partnerships and expansions will enhance its market positioning by:

  • Strengthening Technology Advancements: Collaborations with semiconductor partners will aid in further developing its mmWaveassistant
  • Pharrowtech: Partnerships and Market Positioning

    Pharrowtech, a Belgian company specializing in millimeter-wave (mmWave) technology, has been making significant strides in the wireless communication sector since its inception in 2018. Following its recent success, Pharrowtech continues to expand its operations and strengthen its partnerships.

    Partnerships and Customers

    Pharrowtech has established several notable partnerships that are pivotal in advancing its mmWave technology. One of its significant collaborations is with 8devices, where they jointly announced an advanced 60 GHz PtP/PtMP system for Wireless Internet Service Providers (WISPs) and ready-to-integrate wireless modules for Original Equipment Manufacturers (OEMs). This partnership aims to simplify and accelerate the adoption of mmWave technology, enhancing its capabilities for high-bandwidth wireless applications.

    Pharrowtech has also engaged in successful collaborations with leading wireless communication companies, including trials with Telenet, a major Belgian Internet Service Provider (ISP).

    New Partnerships and Customers

    While specific details about new partnerships or customers since the EIC Accelerator funding are not available, Pharrowtech's expansion into North America indicates a strategic move to foster relationships with new customers and partners in the region. The appointment of Christian Plante as General Manager for North America underscores the company's commitment to growing its presence in key markets like wireless infrastructure, Wi-Fi, consumer electronics, and smart city IoT applications.

    Nature of New Relationships

    Pharrowtech's new relationships, particularly its expansion into North America, are designed to leverage the region's strong wireless and semiconductor ecosystems. This strategic move positions Pharrowtech closer to its existing North American customers and semiconductor partners, particularly in Silicon Valley.

    Market Positioning

    Pharrowtech's partnerships and expansions will enhance its market positioning by:

    • Strengthening Technology Advancements: Collaborations with semiconductor partners will aid in further developing its mmWave technology, especially in areas like chip and antenna design, crucial for next-generation wireless applications.
    • Scaling Production: The move into North America will provide access to a robust VC ecosystem, facilitating investments needed to scale production of its mmWave solutions to meet growing demand.
    • Market Reach: By establishing a presence in North America, Pharrowtech can better serve its existing customers in the region while attracting new ones, solidifying its position as a leader in mmWave technology.

    Technology Advancements

    Pharrowtech's focus on integrating mmWave technology into future Wi-Fi standards, such as Wi-Fi 8, aims to revolutionize wireless communication by offering speeds significantly faster than current standards. This involves optimizing wireless system design, refining components through RFIC and analog block design, enhancing adaptability through digital processing, and validating solutions in real-world scenarios.

    Pharrowtech's advancements in mmWave technology will not only drive revenue growth but also foster strategic partnerships, reinforcing its commitment to reshaping the wireless communication landscape.

    Sources

    6 The Hiring and Company Growth

    Pharrowtech's Team Dynamics and Growth Strategy Post-2024 EIC Accelerator Funding While specific details about Pharrowtech’s hiring or team growth following their March 2024 EIC Accelerator application are not publicly disclosed, the company’s trajectory reflects strategic scaling efforts aligned with its focus on mmWave technology.
    • Current headcount: Conflicting reports indicate between <25 employees (ZoomInfo) and 41 employees (RocketReach), suggesting discrepancies in tracking methodologies or rapid fluctuations.
    • Hiring status: Actively recruiting for specialized roles, including mmWave/RF chip designers, antenna engineers, and semiconductor product managers, as listed on their careers page. The company emphasizes plans to increase gender diversity, targeting 25% female representation by 2025.
    • Growth metrics: Pharrowtech secured a €15M Series A round in 2022, enabling expansion into markets like 5G FWA and smart city IoT solutions. While no post-2024 funding announcements are visible, the EIC Accelerator grant likely supports further R&D and operational scaling.
    • Key positions: Recent job postings prioritize expertise in RF system design, MAC/PHY layer development, and fabless semiconductor operations—critical areas for advancing their IEEE 802.11ay-compliant PTR1060 transceiver chip.
    • Founding team stability: CEO Wim Van Thillo remains at the helm without reported management changes.

    New hires would bolster Pharrowtech’s capacity to customize phased array antenna modules and expand partnerships with baseband processor suppliers like Renesas Electronics, positioning the Belgian firm as a competitive player against industry giants such as Qualcomm and Texas Instruments.


    Sources
    RocketReach - Pharrowtech Profile
    ZoomInfo - Pharrowtech Overview
    Pharrowtech Careers Page
    Capacity Media - €15M Series A Funding
    About Pharrowtech (Note: URL contains typo; correct domain is pharrayyotech.com → pharrayyotech.com redirects to pharrostech.com? Clarification needed; original source referenced from search result )

    7 The Media Features and Publications

    Media Features and Company Activity of Pharrowtech

    Pharrowtech, a Belgium-based mmWave technology developer and EIC Accelerator grant recipient, has garnered attention in technical publications, podcasts, and industry events. Below is an overview of its media presence and activities:


    Media Features

    • New Electronics Interview (February 2025): CEO Wim Van Thillo discussed the company’s mmWave advancements, including CMOS-based RFICs for 5G FWA and consumer electronics.
    • Electronicspecifier Podcast: Featured in a podcast episode titled “The Technology Shaping the Future of Connectivity”, where Van Thillo explained Pharrowtech’s vision for next-generation wireless systems.

    Publications

    • Industry Reports: Recognized by market analysts such as Yole Intelligence (FWA RF market projections) and ABI Research (smart pole adoption).
    • Tech Journals: Covered in semiconductor-focused outlets for innovations in phased array antennas and software-defined wireless platforms.

    Podcasts & Interviews

    • Electronicspecifier Podcast Series 17 – Episode 3: Focused on Pharrowtech’s role in advancing mmWave connectivity for VR headsets, smart cities, and high-capacity wireless links.
    • CEO Insights: Van Thillo emphasized challenges in scaling mmWave production during interviews with New Electronics.

    Conferences & Events

    • North American Expansion (May 2023): Announced a U.S. subsidiary led by semiconductor veteran Christian Plante to strengthen customer partnerships.
    • COMPUTEX 2024 Participation: Highlighted AI-driven connectivity solutions at the Taipei event alongside major industry players like NVIDIA and Qualcomm.
    • RFIC Symposium Relevance: While not directly cited as participants, Pharrowtech’s work aligns with RFIC’24 themes on D-band/THz transmitters and advanced packaging.

    Sources Used:

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