1 The EIC Accelerator Project

EIC Accelerator Program Overview

The European Innovation Council (EIC) Accelerator program is designed to support small and medium-sized enterprises (SMEs) and startups that are developing high-risk, high-impact innovations, particularly in deep tech sectors. The program aims to bridge the funding gap for innovative companies and accelerate their time to market, thus fostering economic growth and job creation within the European Union. The EIC Accelerator offers a unique combination of grant funding and equity investment, tailored to meet the specific needs of each project.

Funding Structure

The EIC Accelerator provides funding through two main components: grants and equity investments.

Companies can receive grants of up to €2.5 million. This funding is aimed at covering the costs associated with the development of innovative projects, including research and development, prototyping, and market introduction. Grants are particularly beneficial as they do not require repayment, allowing companies to allocate resources towards scaling and operational activities without the burden of debt.

In addition to grant funding, the EIC Accelerator offers equity investments. Initially, the program provided up to €15 million in equity until 2024. However, from 2025 onwards, this amount is capped at €10 million. The equity investment is intended to complement the grant funding, allowing startups to secure additional resources for growth and expansion, while also providing an opportunity for the EIC to share in the success of the funded companies.

Role in the DeepTech and Startup Ecosystem

The EIC Accelerator plays a pivotal role in the European DeepTech and startup ecosystem by facilitating access to capital for innovative companies. It acts as a catalyst for growth by providing the necessary funding to develop cutting-edge technologies that may otherwise struggle to attract private investment due to their high-risk nature. The program not only supports the financial needs of these companies but also offers valuable mentorship, networking opportunities, and access to an extensive ecosystem of investors and industry experts. This holistic approach enhances the chances of success for startups, enabling them to scale their operations and penetrate global markets effectively.

Case Study: Salience Labs Ltd and Project PACIFIC

Company Overview: Salience Labs Ltd, based in the United Kingdom, is a pioneering company focused on developing advanced technologies for artificial intelligence (AI) applications. The company was selected as an EIC Accelerator winner for its innovative project, PACIFIC, which stands for Photonic Accelerator Chip For Inference.

Project Overview: The PACIFIC project aims to create the first massively parallel hybrid photonic/electronic accelerator chip specifically designed for AI inference applications. This technology represents a significant advancement in the field of AI hardware, promising enhanced processing capabilities and energy efficiency compared to traditional electronic chip designs.

Technology Basics and Background

The core technology behind the PACIFIC project lies in the integration of photonics with electronic circuits. Photonic devices use light (photons) to perform functions typically handled by electronic devices, which rely on the flow of electricity (electrons). By leveraging the advantages of both domains, the PACIFIC chip aims to achieve unprecedented levels of performance in AI inference tasks.

The design of the PACIFIC chip allows for massive parallel processing capabilities, essential for handling the extensive computational demands of AI algorithms. This parallelism enables simultaneous processing of multiple data streams, significantly speeding up inference times and improving overall system efficiency.

One of the critical challenges in AI hardware is energy consumption. Photonic circuits have the potential to operate at lower power levels compared to their electronic counterparts, leading to reduced heat generation and improved energy efficiency. This aspect is particularly important for large-scale AI deployments, where power costs can become prohibitive.

The PACIFIC chip is designed for a range of AI inference applications, including image and speech recognition, natural language processing, and autonomous systems. The ability to process data quickly and efficiently opens up new possibilities across various sectors, including healthcare, automotive, and robotics.

Conclusion

The EIC Accelerator program represents a vital support mechanism for innovative companies like Salience Labs Ltd, enabling them to develop groundbreaking technologies such as the PACIFIC chip. By providing tailored grant and equity funding, the program not only helps startups overcome financial barriers but also fosters a vibrant ecosystem conducive to innovation and growth in the European technology landscape. Salience Labs Ltd's success with the PACIFIC project exemplifies the transformative potential of hybrid photonic/electronic technology in reshaping the future of AI applications.

2 The Funding Rounds

# Salience Labs Ltd: Funding Journey Since EIC Accelerator Grant

Salience Labs Ltd, a UK-based company specializing in photonic solutions for AI datacenter infrastructure, has secured multiple funding rounds since winning the EIC Accelerator grant in June 2022. The company develops innovative optical switch technology that promises to deliver high bandwidth, low latency, and significant power savings for AI clusters.

EIC Accelerator Funding (June 2022)

Salience Labs Ltd was among the 75 companies selected for funding in the highly competitive EIC Accelerator June 2022 cut-off. The company was awarded a "Grant only" type of funding, as indicated in the official EIC Accelerator results. This round was particularly competitive, with only 7.61% of all applicants succeeding through both evaluation stages.

The United Kingdom was among the top three countries with the highest number of selected companies in this cut-off, accounting for approximately 9% of all successful applications.

Funding Timeline and Rounds

Since receiving the EIC Accelerator grant, Salience Labs has secured multiple funding rounds:

• June 2022: Won the EIC Accelerator grant (Grant only type)
• August 2022: Received €1.3 million from undisclosed sources
• February 2023: Secured £2.0 million grant from Innovate UK
• February 2025: Closed a $30 million Series A funding round led by ICM HPQC Fund and Applied Ventures, LLC

Series A Funding Details (February 2025)

The most recent and significant funding round for Salience Labs was its $30 million Series A financing, which closed in February 2025. This round was led by:

• ICM HPQC Fund
• Applied Ventures, LLC (the venture capital arm of Applied Materials, Inc.)

Additional investors in this round included: - Strategic Investment Fund

• Braavos
• Oxford Sciences Enterprises (existing investor)
• Cambridge Innovation Capital (existing investor)
• Silicon Catalyst (existing investor)
• Jalal Bagherli (former CEO of Dialog Semiconductor)

The Series A funding represents a significant milestone for Salience Labs, as Series A rounds typically focus on scaling business operations and driving long-term profitability after a company has already developed a strong user base, generated revenue, and demonstrated product-market fit.

Company Valuation

Prior to the Series A round, Salience Labs had an enterprise valuation estimated at $46-69 million (as of May 2022). Current valuation following the February 2025 Series A round has not been publicly disclosed.

Company Background and Technology

Salience Labs was founded in 2021 as a spin-out from silicon photonics research conducted at the University of Oxford (UK) and the University of Münster (Germany). The company now maintains locations in Oxford, Heidelberg, and San Jose.

Their technology focuses on: - Optical switches for large-scale AI connectivity

• Photonic switching technology enabling high-speed, ultra-low latency networking
• Solutions that remove infrastructure bottlenecks for AI workloads

The company's technology utilizes chip-based optical frequency combs, soliton microcombs at microwave line rates, ultra-low-loss silicon nitride waveguides, and high-speed on-chip detectors and modulators.

Leadership and Governance

The company is led by co-founder and CEO Vaysh Kewada. In conjunction with the Series A financing, Salience Labs appointed Dr. William Jeffrey to its Board of Directors. Dr. Jeffrey joins Jack Edmondson (Chief Investment Officer of Oxford Sciences Enterprises) and Daniel Armbrust (co-founder of Silicon Catalyst).

In February 2025, the company also appointed Bonnie Tomei, a certified public accountant and industry veteran from Silicon Valley, as Chief Financial Officer.

Market Position

Salience Labs is positioned among a growing number of photonics startups targeting AI data center infrastructure. The company competes with other silicon photonics startups including Xscape Photonics, Ayar Labs, Lightmatter, and Celestial AI. Their optical switch technology aims to address the significant energy efficiency challenges faced by data center operators like Amazon and Google, who are currently exploring alternative power solutions including nuclear energy.

Sources: - EIC Accelerator winners and statistics June 2022 - Strata.team

• Salience Labs company information, funding & investors
• EIC Accelerator 15 June cut-off
• Salience Labs company information, funding & investors
• Salience Labs Closed Series A Round Led by Applied Ventures and ICM HPQC Fund
• Salience Labs Secures $30 Million Series A Funding to Power Next Generation AI Connectivity
• Funding Rounds Explained: Series A, B, C and Seed - Coresignal
• Salience adds $30M for optical switches
• Salience Labs Closes $30M Series A Funding - FinSMEs

3 The Press Releases

Salience Labs: Post-EIC Accelerator Funding Developments Salience Labs Ltd, a UK-based photonic technology company, secured EIC Accelerator funding in June 2022 under the "Grant-only" financing scheme for its PACIFIC project—a hybrid photonic/electronic accelerator chip designed for high-performance computing applications. Since then, the company has advanced its photonic switching technology and expanded operations.

Key Developments

• $30M Series A Funding (2025): Salience raised $30 million in a Series A round led by ICM HPQC Fund and Applied Ventures to develop optical switches for AI data centers. The technology aims to reduce power consumption while enabling high-bandwidth, low-latency connectivity for large-scale AI clusters.
• Technology Focus: Their optical switch integrates an optical circuit switch with a low-loss fabric and electronic control software, targeting infrastructure bottlenecks in AI workloads. This eliminates the need for transceivers, reducing costs.
• Strategic Appointments: William Jeffrey (ICM HPQC technical advisory chair) joined the board alongside new CFO Bonnie Tomei. The team includes co-founders Vaysh Kewada (CEO), Johannes Feldmann (CTO), and Wolfram Pernice (Heidelberg University professor and Leibniz Prize winner).

Partnerships & Collaborations

Salience collaborates with semiconductor industry leaders through investors like Applied Materials and Oxford Sciences Enterprises. Their research leverages proprietary silicon photonics innovations from the University of Oxford and University of Münster.

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Sources

• EIC Accelerator winners June 2022 - Strata.team
• C2C NewCap company information
• Salience Labs wins $30m Series A cash
• Related Content: Salience Labs Closes $30M Funding Round
• EIC Accelerator 15 June cut-off list

Enrichment sources not available via public search results include direct updates from saliencelabs.ai/, which were not retrievable at time of analysis.

4 The Technology Advancements

Salience Labs Ltd: Post-EIC Accelerator Funding Progress and Technological Advancements Since securing EIC Accelerator funding in June 2022, Salience Labs has made significant strides in advancing its photonic interconnect technology for AI data centers. Below is a detailed analysis of their progress:

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Current Capabilities and Technology

Salience Labs specializes in silicon photonics-based optical switches, leveraging light-based data transmission to address power efficiency and bandwidth limitations in AI infrastructure. Their technology, rooted in research from the University of Oxford and Münster, aims to replace traditional electronic interconnects with photonic solutions that offer higher speeds (up to 1,000x faster than existing electronics) and lower energy consumption.

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Post-2022 Advancements

Key Investor Commentary: Applied Ventures highlighted Salience’s potential to enable "a new generation of interconnect network architectures" for energy-efficient AI systems.

• Focus remains on compatibility with existing infrastructure while delivering high bandwidth (>100Gbps), low latency, and power savings critical for AI workloads.
• Optical switches are positioned as a solution to overcome bottlenecks in GPU-to-GPU communication within hyperscale data centers.

• Appointed Dr. William Jeffrey (former NIST Director) to its board, enhancing governance ties with semiconductor policy groups advising on CHIPS Act R&D strategies.
• Bonnie Tomei joined as CFO from Spectra7 Microsystems, strengthening financial operations ahead of commercialization efforts.

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Market Demonstrations and Commercialization

While specific customer pilots or clinical trials are not explicitly detailed:

• CEO Vaysh Kewada emphasized the company’s focus on bringing products "to customers" post-Series A closure, indicating active engagement with target users like hyperscalers and chip manufacturers.
• Strategic investors such as Applied Materials provide direct access to semiconductor manufacturing ecosystems, facilitating integration pathways for Salience’s optical switches into production lines.

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Intellectual Property Updates

No new patents or peer-reviewed studies were explicitly cited post-2022:

Core IP likely builds upon foundational work published in Nature (2020), which introduced their brain-inspired optical switching paradigm. Public updates suggest ongoing R&D rather than major public disclosures since the EIC award.

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Sources Used:

• Salience Labs Secures $30 Million Series A Funding
• BusinessWire Announcement
• Optics.org Coverage

5 The Partnerships and Customers

Salience Labs Ltd: Partnerships and Relationships

Overview

Salience Labs Ltd, based in the United Kingdom, is a prominent player in the development of photonic solutions for AI data center infrastructure. Since receiving EIC Accelerator funding in June 2022, the company has significantly expanded its partnerships and relationships to drive innovation and market growth.

Partnerships and Customers

Salience Labs has established partnerships with several key entities: - Applied Ventures: The venture capital arm of Applied Materials, Inc., which co-led the $30 million Series A funding round alongside ICM HPQC Fund.

• ICM HPQC Fund: A key investor and strategic partner, with Dr. William Jeffrey joining Salience Labs' Board of Directors.
• Braavos: Participated in the Series A funding round, supporting Salience Labs' growth.
• Oxford Sciences Enterprises, Cambridge Innovation Capital, and Silicon Catalyst: Existing investors who continued their support in the Series A round.
• Jalal Bagherli: An investor and former CEO of Dialog Semiconductor, providing strategic expertise.

New Partners and Customers

While specific new customer names are not disclosed, Salience Labs has emphasized its focus on developing photonic switches for AI clusters, which suggests a growing customer base in the data center and AI sectors. The company's investor network, including leaders from the global semiconductor industry, positions it well for future partnerships.

Nature and Purpose of New Relationships

The new relationships, particularly with strategic investors like Applied Ventures and ICM HPQC Fund, are aimed at accelerating Salience Labs' go-to-market strategy and enhancing its optical switch technology. These partnerships leverage the expertise and resources of industry leaders to advance Salience Labs' position in the AI data center connectivity market.

Market Positioning and Technology Advancements

Salience Labs' partnerships and funding will enable it to scale its operations and further develop its photonic solutions. By integrating silicon photonics into AI data centers, the company aims to deliver high bandwidth, low latency, and significant power savings—key factors in enhancing AI system efficiency. These relationships will help Salience Labs advance its technology and position itself as a leader in the market by overcoming infrastructure bottlenecks in AI workloads.

Scaling and Market Growth

The strategic partnerships and investments will facilitate Salience Labs' growth by providing the necessary resources for product development and market deployment. This positions the company for significant market share gains in the rapidly evolving AI connectivity sector.

Sources

• Salience Labs
• Salience Labs Closed Series A Round Led by Applied Ventures and ICM HPQC Fund
• Optical Circuit Switches Show Promise for More Energy-Efficient AI Systems
• Salience Labs appoints former Imagination Technologies CPO to lead productization of multi-chip photonics processor for AI
• Salience Labs raises $30m for AI data center optical switch
• Salience Labs Closes $30M Funding Round
• Salience Labs advances its AI agenda using new chip design
• Salience Labs Secures $30 Million Series A Funding to Power Next Generation AI Connectivity

6 The Hiring and Company Growth

Salience Labs: Team Growth and Strategic Hiring Since EIC Accelerator Funding

Since winning EIC Accelerator funding in June 2022, Salience Labs has demonstrated steady growth, marked by leadership expansion and strategic hiring to scale its photonic solutions for AI datacenters. While exact headcount figures are not publicly disclosed, financial records from December 2023 indicate 16 employees, with recent appointments signaling further scaling efforts.

Key Developments in Team Structure:

• Recent Executive Appointments: In February 2025, Salience Labs appointed Dr. Bill Jeffrey, former Director of the National Institute of Standards and Technology (NIST), to its Board of Directors and named Bonnie Tomei, a Silicon Valley finance veteran, as Chief Financial Officer.
• Leadership Strengthening: The company expanded its board with industry veterans like Daniel Armbrust (Chairman) and Jack Edmondson (Oxford Science Enterprises), reflecting a focus on governance expertise for global scaling.
• Technical Leadership: Dr. Johan van der Tang joined as VP of Engineering, while Dr. George Rakuljic took the role of VP Product, underscoring investments in R&D and product development.

Growth Trajectory Post-Funding:
Salience Labs secured a $30 million Series A round in February 2025 led by Applied Ventures and ICM HQPC Fund, following an $11.5 million seed round in May 2022. This capital has enabled:

• Geographic Expansion: Establishing a U.S. presence under Bonnie Tomei’s leadership to serve key customers.
• Manufacturing Scalability: Leveraging partnerships with Applied Materials to advance CMOS-compatible photonic chip production.

Strategic Hiring Impact: New team members bring specialized expertise to address bottlenecks in AI infrastructure:

• Photonics Innovation: Dr. Johannes Feldmann (CTO) co-developed the core technology at Oxford/Münster universities, ensuring continued R&D excellence.
• Operational Scaling: Tomei’s experience in IPOs and corporate finance positions the company for future funding rounds or public listings.

No major changes have been reported among founding members Vaysh Kewada (CEO) or Dr. Feldmann since inception, maintaining continuity in vision while augmenting leadership depth for commercialization phases.

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Sources

• Salience Labs Raises $11.5 Million Seed Business Wire (May 12, 2022).
• Series A Funding Announcement Ritzau (February 7, 2025).

7 The Media Features and Publications

Overview of Salience Labs Ltd

Salience Labs Ltd is a UK-based company specializing in photonic solutions for AI data center infrastructure. The company was founded in 2021 as a spin-out from the University of Oxford and the University of Münster. Since its inception, Salience Labs has been actively involved in developing innovative technologies to meet the evolving demands of AI and data centers.

Media Features and Publications

Salience Labs has been featured in several publications due to its groundbreaking photonic solutions and successful funding rounds. Notable publications include:

• Business Wire: Featured Salience Labs' successful closure of a $30 million Series A funding round, highlighting its focus on developing optical switches for AI data centers.
• The Business Magazine: Covered Salience Labs' $11.5 million seed funding round aimed at developing ultra-high-speed multi-chip processors combining photonics and electronics.
• Optics.org: Discussed Salience Labs' $30 million Series A round and its mission to enhance AI data center connectivity through silicon photonics.
• Data Center Dynamics: Reported on Salience Labs' $30 million Series A funding and its plans to further develop optical switches for AI data centers.
• PIC Magazine: Highlighted the company's Series A funding and the appointment of new board members.

Podcasts and Interviews

One notable interview is with Vaysh Kewada, co-founder and CEO of Salience Labs, featured on SemiWiki. The interview discusses the evolution of Salience Labs since its founding, its focus on photonics, and future plans for AI applications.

Conference and Fair Visits

While specific conference and fair participations are not detailed in the available data, the company's involvement in the Silicon Catalyst incubator program has provided it with significant commercial introductions and access to advisors in the semiconductor industry.

Involvement in Events

Beyond its participation in incubator programs, Salience Labs' engagement with industry events is largely centered around strategic partnerships and investor relations, which are crucial for advancing its go-to-market strategy.

Conclusion

Since winning the EIC Accelerator funding in June 2022, Salience Labs has continued to make significant strides in developing photonic technologies for AI data centers. The company's successful funding rounds and strategic partnerships underscore its potential to revolutionize data center connectivity through innovative optical switches.

Sources

• Salience Labs Closed Series A Round Led by Applied Ventures and ICM HPQC Fund
• Salience Labs raises $11.5 million seed to develop ultra high-speed chips
• Salience adds $30M for optical switches
• Salience Labs
• Salience Labs raises $30m for AI data center optical switch
• Salience Labs raises $30 million Series A
• CEO Interview: Vaysh Kewada of Salience Labs
• Oxford semiconductor firm Salience Labs raises £9.4m amid chip shortage
• Salience Labs raises $11.5 million for photonics-based processor