1 The EIC Accelerator Project

The EIC Accelerator program, part of the European Innovation Council (EIC), aims to support innovative small and medium-sized enterprises (SMEs) and startups in Europe, particularly those working within the DeepTech sector. The program provides a unique blend of funding options to facilitate the commercialisation of groundbreaking technologies and innovative solutions.

Funding Structure

The EIC Accelerator offers a combination of grants and equity investments, tailored to the specific needs of the applicants. The grant component can provide up to €2.5 million, intended primarily for research and innovation activities, such as product development, testing, and market entry. This grant is non-repayable, allowing companies to utilize these funds without the burden of debt.

In addition to grants, the EIC Accelerator offers equity investments that can reach up to €15 million until 2024, and up to €10 million from 2025 onwards. This equity component is designed to complement the grant funding, providing necessary capital to scale operations and expand market reach. The funding is structured as blended finance, which combines both grant and equity elements to maximize the impact of the investment.

Purpose and Impact

The EIC Accelerator plays a crucial role in the European DeepTech and startup ecosystem by bridging the funding gap that often exists for innovative companies in their early stages. Many startups struggle to secure adequate funding from private investors due to high risk and uncertain market potential. The EIC Accelerator mitigates these challenges by providing accessible funding while also encouraging private sector investment. This dual approach helps to validate innovative projects, making them more attractive to private investors and thereby facilitating further funding rounds.

Case Study: INNATERA NANOSYSTEMS BV

A notable winner of the EIC Accelerator is INNATERA NANOSYSTEMS BV, which has developed the Spiking Neural Processor, an innovative solution designed for always-on intelligent sensing. The company successfully submitted its Step 2 proposal on January 11, 2023, and later secured funding in the Step 3 interview phase.

Project Overview: Spiking Neural Processor

The Spiking Neural Processor project aims to revolutionize how intelligent sensing is conducted in various applications, including IoT devices and edge computing. This technology mimics the way biological neural networks function, using spikes of information rather than continuous signals. The spiking mechanism allows for more efficient data processing, lower power consumption, and real-time responsiveness, making it ideal for applications where power resources are limited.

Technology Basics and Background

Spiking neural networks (SNNs) represent a cutting-edge approach in artificial intelligence, moving beyond traditional deep learning methods that rely on continuous data flow. By adopting a more biologically inspired model, SNNs process information in a way that is more akin to human thought processes, using discrete events or spikes. This results in a system that can operate effectively in environments where power efficiency is crucial.

INNATERA's Spiking Neural Processor leverages this technology to create intelligent sensors capable of operating continuously, providing real-time data analysis without the need for constant power supply, which is particularly beneficial in remote or battery-operated applications. The processor is designed to analyze data on the fly, making it applicable in sectors such as healthcare, environmental monitoring, and smart cities.

The funding received through the EIC Accelerator will enable INNATERA NANOSYSTEMS to further develop its prototype, conduct extensive testing, and prepare for market entry. This strategic support not only enhances the company's growth prospects but also contributes to the broader European technological landscape by fostering innovation and advancing the adoption of advanced AI systems.

In summary, the EIC Accelerator serves as a vital catalyst for innovation in Europe, particularly in the DeepTech sector, providing essential funding and support to startups like INNATERA NANOSYSTEMS BV. The Spiking Neural Processor project exemplifies the potential for transformative technology to improve intelligent sensing solutions, showcasing the critical role of the EIC Accelerator in nurturing groundbreaking ideas and facilitating their journey to market.

2 The Funding Rounds

# Innatera Nanosystems BV: Funding Journey Since EIC Accelerator Grant

Innatera Nanosystems BV, a Dutch chip startup specializing in neuromorphic edge AI technology, has secured significant funding since receiving the EIC Accelerator grant in January 2023. The company, which was spun out of Delft University of Technology in 2018, develops ultra-low-power neuromorphic processors for sensor-edge applications.

Funding Timeline and Rounds

Innatera has raised a total of approximately $27.22 million across 8 funding rounds since its inception. The most significant recent funding developments include:

EIC Accelerator Funding (January 2023)

• Grant amount: €2.5 million from the European Innovation Council
• Additionally received an undisclosed Early VC investment from the EIC Fund in January 2023

Series A Funding (March 2024)

• Raised €15 million (approximately $16.3 million)
• Investors included Invest-NL Deep Tech Fund, European Innovation Council Fund, MIG Capital, Matterwave Ventures, and Delft Enterprises
• Purpose: To accelerate mass production, broaden application offerings, and scale up customer collaborations

Series A Extension (June 2024)

• Additional €5 million (approximately $5 million)
• New investors: Innavest (a consortium of private investors and entrepreneurs) and Invest-NL
• Total Series A funding reached approximately €20 million ($21 million)

Investor Information

Innatera has attracted a diverse group of investors across its funding rounds:

• Invest-NL Deep Tech Fund: Participated in both the initial Series A and the extension round
• European Innovation Council (EIC) Fund: Provided both grant funding and venture capital investment
• MIG Capital: Participated in the Series A funding
• Matterwave Ventures: Participated in the Series A funding
• Delft Enterprises: Participated in the Series A funding
• Innavest: Led the Series A extension alongside Invest-NL

The company has shown remarkable capital efficiency, having built its first processors with less than $5 million of investment before securing the larger Series A round.

Company Valuation and Future Plans

While specific valuation figures for Innatera have not been disclosed in the available information, the company has ambitious growth plans:

• Aims to bring its ultra-low-power neuromorphic processors to a billion sensors and sensor-based devices by 2030
• Plans to enter production of its Spiking Neural Processor T1 later in 2024
• Expects to begin high-volume deliveries in Q2 of 2025
• Planning a Series B funding round within the next year (from June 2024)

Products and Technology

Innatera's flagship product is the Spiking Neural Processor T1, unveiled in January 2024. This processor features:

• A proprietary event-driven computing engine
• A conventional convolutional neural network accelerator
• A RISC-V CPU
• Ultra-low power consumption for battery-powered devices

The company has been showcasing its neuromorphic solutions in wearables, smart home, and consumer electronics applications throughout 2023 and 2024.

Company Growth

Innatera has grown significantly since its founding:

• Currently employs approximately 75 people as of mid-2024
• Has developed six generations of silicon design
• Has ongoing multiple customer engagements
• Recently appointed Duco Pasmooij, former VP at Apple, to its advisory board

The company continues to position itself as a leader in the neuromorphic computing space, focusing on applications where power constraints, privacy concerns, and latency requirements drive the need for edge AI solutions independent of the cloud.

Sources: - Innatera bags another €5M for neuromorphic edge AI processor

• Innatera raises €15m for neuromorphic edge AI
• Innatera Nanosystems company information, funding & investors
• Innatera Stock Price, Funding, Valuation, Revenue & Financial
• Innatera books $21M in funding for its ultra-low-power AI chips
• Delft's Innatera bags €15M for mass production of brain-inspired processor
• Startup Funding: March 2024 - Semiconductor Engineering
• Innatera Raises $21M in Series A Funding - FinSMEs

3 The Press Releases

Innatera Nanosystems BV: A Leader in Neuromorphic Computing

Innatera Nanosystems BV, a Netherlands-based company specializing in neuromorphic computing, received significant recognition and funding from the European Innovation Council (EIC) Accelerator in January 2023. This funding underscores Innatera's innovative approach to developing cutting-edge spiking neural processors designed for always-on intelligent sensing applications, particularly in consumer electronics and the Internet of Things (IoT).

Funding and Recognition

Innatera was awarded €15 million in funding as part of the EIC Accelerator programme's first cut-off in 2023. This substantial investment highlights the company's leadership in neuromorphic computing, a field that mimics the human brain's neural networks to enable more efficient and autonomous processing capabilities.

Technology Advancements

Innatera's productized spiking neural network accelerator marks a significant milestone in the industry's shift towards ambient intelligence. This technology is pivotal in systems that can think, sense, and act autonomously without relying on cloud computing, positioning Innatera at the forefront of edge AI innovations.

Team Updates

Innatera recently appointed Prof. Alberto Sangiovanni-Vincentelli as Chairman of its Board of Directors. This appointment brings renowned expertise in embedded systems and electronic design automation, further bolstering Innatera's strategic direction and technological prowess.

Press Releases and Updates

Innatera's press releases often highlight its participation in major industry events, such as ISSCC, the AI Edge Summit, MWC, and Embedded World. These appearances demonstrate the company's commitment to showcasing its innovations and engaging with the broader tech community.

Conclusion

Since receiving the EIC Accelerator funding, Innatera Nanosystems BV has continued to push the boundaries of neuromorphic computing. Its advancements in spiking neural processors and strategic appointments have solidified its position as a leader in this field.

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Sources

• EIC Accelerator winners and statistics January 2023
• EIC recognizes Innatera's leadership in neuromorphic computing
• Press Releases - Innatera

4 The Technology Advancements

Innatera Nanosystems BV: Current Capabilities and Advancements

Innatera Nanosystems BV, a spin-off from the Delft University of Technology in the Netherlands, specializes in ultra-low power neuromorphic computing. Since receiving funding from the European Innovation Council (EIC) in early 2023, Innatera has continued to advance its technology and expand its market presence.

Current Capabilities

• Neuromorphic Processors: Innatera's flagship product is the Spiking Neural Processor (SNP), which utilizes a proprietary analog-mixed signal computing architecture. The SNP leverages spiking neural networks (SNNs) to deliver high-performance pattern recognition with ultra-low power consumption and short latency. This technology enables advanced AI applications in sensor-edge devices, such as audio scene classification and radar-based human presence detection.
• Applications: Innatera's technology supports various applications, including audio interfaces, touch-free interfaces, presence detection, activity recognition, and ECG monitoring. It is particularly suited for power-constrained environments like battery-powered devices.

Advancements Post-EIC Funding

Following the EIC funding in early 2023, Innatera has made significant strides:

• Funding and Expansion: In June 2024, Innatera closed an oversubscribed $21 million Series A funding round, which included investments from prominent investors like Innavest, Invest-NL, and the EIC Fund. This funding is being used to accelerate large-scale production and expand marketing efforts.
• Mass Production: Innatera recently announced a €15 million investment to accelerate the ramp-up of volume production of its neuromorphic processors. This investment will also help broaden the applicability of its products and scale up customer collaborations.
• Market Demonstrations: Innatera showcased its revolutionary Spiking Neural Processor at CES 2025, highlighting its potential to transform computing for sensor-edge applications. Demonstrations included next-generation AI and signal processing capabilities for consumer electronics and smart homes.

Technology Improvements

Innatera's technology has seen improvements in efficiency and performance:

• Energy Efficiency: The company's neuromorphic chips can process sensor data up to 500 times more efficiently than conventional processors, making them ideal for embedded AI in power-limited devices.
• New Features: The Spiking Neural Processor T1 incorporates a RISC-V CPU and event-driven computing engine, providing a comprehensive platform for ultra-low power AI applications in battery-powered devices.

Patents and Scientific Contributions

While specific details on new patents or scientific studies are not available in the recent literature, Innatera's advancements in neuromorphic computing have been recognized through significant investments and partnerships. Their ongoing research and development focus on enhancing the capabilities of spiking neural networks, which are known for their compactness and temporal processing capabilities.

Sources

• Innatera
• Innovation | Innatera
• Innatera Showcases Revolutionary Neuromorphic Processor
• About us - Innatera
• Innatera bags €15M for mass production of brain-inspired processor
• EIC recognizes Innatera's leadership in neuromorphic computing with €15m in funding
• Innatera books $21M in funding for its ultra-low-power AI chips
• Neuromorphic Company Innatera Attracts $21M in Series A Funding

5 The Partnerships and Customers

Innatera Nanosystems: Partnerships and Growth Since EIC Accelerator Funding

Innatera Nanosystems, a Dutch company specializing in ultra-low power neuromorphic processors, has been actively engaged with various partners and customers in the field of edge AI since receiving funding from the EIC Accelerator in January 2023. This funding has significantly contributed to Innatera's growth and technological advancements.

Partnerships and Customers

Innatera has collaborated with a number of big international names on applications that are expected to transform the consumer, industrial, and automotive markets. The company is part of several innovation projects with industry partners, academic organizations, and research institutes, leveraging its neuromorphic AI technology. Key projects include:

• Adacorsa: This project focuses on BVLOS drone operations, integrating sensing technology from the automotive industry to enhance drone usage and reduce deployment costs.
• KDT AI4CSM: Innatera contributes to developing intelligent components for next-generation electric vehicles, focusing on predictive maintenance and anomaly detection.
• KDT DAIS: The company develops power-efficient edge-AI applications for consumer uses, aiming to improve data processing security and efficiency.
• ShapeFuture: Innatera deploys neuromorphic hardware to enhance driver support systems in highly automated vehicles.

Innatera's partnerships include investments from Innavest, Invest-NL, EIC Fund, MIG Capital, Matterwave Ventures, and Delft Enterprises. The recent addition of veteran operations executive Duco Pasmooij, formerly of Apple, to its advisory board further strengthens its strategic position.

New Partners and Relationships

New partners for Innatera include Innavest and Invest-NL, who participated in the Series A extension funding round. Innavest brings strategic expertise and network support to help Innatera achieve its mission. These partnerships are crucial for Innatera's expansion into various markets and for scaling its neuromorphic processor production.

Purpose and Market Positioning

The purpose of these partnerships is to accelerate Innatera's production of its neuromorphic edge AI processors, enabling the company to meet growing demands in sensor-based applications. This strategic positioning will help Innatera become a leader in the AI semiconductor landscape, particularly in low-power, edge AI solutions.

Technology Advancements and Scaling

These relationships are instrumental in driving technology advancements by providing Innatera with the necessary financial backing to develop and scale its ultra-low power neuromorphic processing solutions. The funding helps Innatera enhance its R&D efforts and accelerate product development, ensuring that it can deliver on customer commitments in a timely manner.

Furthermore, partnerships with industry leaders and research institutes facilitate the creation of advanced algorithms and software tools tailored to its neuromorphic silicon technology. This combination of financial support and collaborative innovation is crucial for optimizing Innatera's edge AI offerings and addressing the increasing market demand for energy-efficient processing solutions.

Sources

• Innatera bags another €5M for neuromorphic edge AI processor
• Innatera Nanosystems BV Asset Profile
• Innatera
• Innatera raises EUR 5M to bring neuromorphic intelligence to the edge
• Fueling the Future: Innatera Attracts a Cumulative $21M in Oversubscribed Series A Funding
• Innovation | Innatera
• Innatera raises €15m for neuromorphic edge AI

6 The Hiring and Company Growth

Innatera Nanosystems BV: Growth and Development

Innatera Nanosystems BV, a spin-off from the Delft University of Technology in the Netherlands, has been at the forefront of developing ultra-low power neuromorphic processors. Their innovative approach to AI at the sensor edge has garnered significant attention, including winning the EIC Accelerator funding in January 2023.

Current Headcount and Team Size

As of the latest information, Innatera Nanosystems has a team of approximately 30 employees. This includes staff at their headquarters in the Netherlands and their new design center in Bangalore, India.

Hiring and Team Growth

Innatera is actively growing its team to support its ambitious mission of making a billion sensors intelligent by 2030. While specific current hiring opportunities are not detailed in the available data, their expansion into India and continued research and development efforts indicate ongoing recruitment needs.

Growth and Recent Developments

Innatera has experienced significant growth, having raised nearly €20 million for AI chip development. This substantial funding reflects their rapid progress and expansion plans. The company's growth is crucial for scaling its operations and developing cutting-edge neuromorphic technologies.

Key Positions and Team Impact

Innatera focuses on hiring world-class engineers, scientists, and experts in neuromorphic computing. New team members are essential for advancing their proprietary analog-mixed signal computing architecture and further developing spiking neural networks. These additions help Innatera enhance its technological capabilities, ensuring faster and more efficient sensor data processing, which is critical for its future growth and market impact.

Management and Founding Team Changes

There is no specific information available regarding major changes in management or the founding team of Innatera Nanosystems since receiving the EIC Accelerator funding.

Conclusion

Innatera Nanosystems is poised for continued growth and innovation in the field of neuromorphic computing. With its strategic funding and expanding team, the company is well-positioned to advance its mission of integrating brain-like intelligence into sensors, enhancing the efficiency and intelligence of electronic devices worldwide.

Sources

• About us - Innatera
• Innatera: Ultra low power intelligence for the sensor edge
• Innatera Nanosystems IP Catalog
• Innatera Nanosystems - Luxembourg Startup Ecosystem

7 The Media Features and Publications

Innatera Nanosystems BV: Post-EIC Accelerator Funding Profile Innatera Nanosystems BV, a Netherlands-based neuromorphic computing pioneer, has garnered attention for its ultra-low-power spiking neural processors designed for sensor-edge applications. Since securing EIC Accelerator funding in early 2023, the company continues to advance its mission of enabling energy-efficient AI processing closer to data sources like radar, lidar, and biomedical sensors[^1^].

Media & Public Engagement

While direct media features or podcasts involving Innatera’s team are not explicitly documented in available sources, the company’s participation in high-profile industry events highlights its visibility:

• Linley Fall Processor Conference 2022: CEO Sumeet Kumar presented on “Tiny Spiking AI for Always-On Sensing,” detailing Innatera’s analog-mixed signal architecture and software development kit (Talamo) for deploying spiking neural networks (SNNs)[^2^].
• ISQED 2023: Though Innatera is not named in the conference program, ISQED’s focus on AI/ML and IoT aligns with the company’s core research areas[^3^].

Publications & Technical Documentation

Academic or industry publications directly naming Innatera remain scarce based on available data. However:

• Technical Collaborations: The company collaborated with external researchers to develop ultra-low-current reference circuits in advanced CMOS nodes (e.g., 28 nm), as cited in a project listing by Santunu Sarangi[^4^].
• White Papers & SDK Documentation: Innatera emphasizes its Talamo SDK for SNN model training and deployment, likely detailed in proprietary technical materials referenced during conferences[^5^].

Event Participation & Industry Influence

Innatera actively engages with neuromorphic computing communities through:

• Neuromorphic Engineering Workshops: While specifics are unavailable from indexed sources, their presence at events like Linley Fall Processor Conference underscores their focus on edge-AI hardware innovation[^6^].
• Research Partnerships: As a Delft University spin-off founded in 2018, collaborations with academic institutions often emerge implicitly through technical publications or conference proceedings.

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Sources

• Innatera Official Website – Company overview and technology details.
• Linley Fall Processor Conference 2022 Slides – Presentation by CEO Sumeet Kumar.
• ISQED'23 Program – Conference scope relevant to neuromorphic systems.