1 The EIC Accelerator Project
EIC Accelerator Program Overview
The EIC Accelerator program is a flagship initiative under the European Innovation Council (EIC) aimed at supporting small and medium-sized enterprises (SMEs), particularly those with high potential for innovation and growth in the deep tech sector. This program is designed to provide financial support and guidance to startups and SMEs that are developing breakthrough technologies and innovative solutions that can transform industries and create jobs.
Funding Structure
The EIC Accelerator offers a blended finance model that combines both grant funding and equity investment.
Purpose and Impact
The EIC Accelerator plays a crucial role in the European deep tech and startup ecosystem by providing tailored support to innovative companies. Its objectives include:
- Supporting High-Potential Innovations: The program targets startups that are developing revolutionary technologies with the potential to disrupt existing markets or create entirely new ones.
- Facilitating Growth: By providing significant funding and support, the EIC Accelerator helps companies scale their operations, thus contributing to job creation and economic growth in Europe.
- Attracting Private Investment: The EIC Accelerator aims to make companies more attractive to private investors by providing initial funding, thereby demonstrating the viability of their innovations.
Case Study: ULTRASOUND-INNOVATION MEDTECH SOCIEDAD LIMITADA
Project Name: FineBirth
Website: innitius.com
Country: Spain
Submission Date: October 5, 2022
Project Overview
The FineBirth project, spearheaded by ULTRASOUND-INNOVATION MEDTECH SOCIEDAD LIMITADA, aims to develop a point-of-care diagnostic solution for the definitive differentiation between true and false threatened preterm labor cases. This innovative solution is poised to address a critical challenge in obstetrics, where misdiagnosis can lead to unnecessary interventions and stress for expectant mothers.
Technology Background
FineBirth leverages advanced ultrasound technology and machine learning algorithms to improve diagnostic accuracy in preterm labor scenarios. The technology focuses on the following key aspects:
Conclusion
The EIC Accelerator program serves as a vital catalyst for innovation in the European startup ecosystem, empowering companies like ULTRASOUND-INNOVATION MEDTECH SOCIEDAD LIMITADA to transform their groundbreaking ideas into scalable solutions. Through its blended funding model, the EIC Accelerator not only provides essential financial backing but also enhances the capacity of startups to attract further investments, ultimately driving economic growth and improving societal outcomes. The FineBirth project exemplifies the transformative potential of innovative healthcare solutions in addressing critical challenges in maternal and neonatal health.
2 The Funding Rounds
Financing Raised and Funding Rounds
Since receiving EIC Accelerator funding in October 2022, ULTRASOUND-INNOVATION MEDTECH SOCIEDAD LIMITADA (operating as Innitius) has continued to secure capital through multiple funding rounds. The company has raised a total of approximately $8.75 million across 13 rounds, with the most recent significant round being a Seed VC round that closed on February 15, 2023, raising $1.92 million. Some sources report Innitius’ total funding at up to $10 million when including all sources and commitments.
Timing and Amount of Funding Rounds
- February 2023: Seed VC round; amount raised was approximately $1.92 million.
- Total as of early 2024: Approximately $8.75–$10 million across all rounds since inception.
Investor Information
Innitius’ investors represent a blend of European public innovation funds and private venture capital:
- European Innovation Council (EIC Fund)
- Fundación Botín
- Clave Capital
- Basque Government
- Nara Capital
- Namarel Ventures
- CDTI Innvierte
These investors have supported the company’s growth through its development milestones.
Company Valuation
As per available data after their most recent financing activities: - Enterprise value is estimated at €7 million (~$7.6M).
No detailed post-money valuation for each individual round is disclosed publicly.
Exit Events: IPOs or Acquisitions
There are no reported exit events such as an IPO, buyout, or acquisition for Innitius up to May 2025. The company remains privately held and continues its operations focused on commercializing its flagship diagnostic technology for women’s health.
Sources
- Innitius company information, funding & investors | Dealroom.co
- Innitius Stock Price, Funding, Valuation, Revenue & Financials | CB Insights
- Innitius | Capital Cell
- Innitius - Products, Competitors, Financials | CB Insights
- Company – INNITIUS
- Innitius company information | Space Tech Dealroom
3 The Press Releases
Innitius Overview and DevelopmentsInnitius, a Spanish company and winner of the EIC Accelerator funding, specializes in creating diagnostic solutions for women's health. Since receiving the funding in October 2022, Innitius has continued to advance its innovative medical devices, focusing on improving the accuracy and efficiency of preterm labor diagnosis.
Press Releases and Blog Posts
- Clinical Trial Completion: Innitius celebrated the completion of its Clinical Trial 1, marking a significant milestone in the development of its diagnostic algorithm for assessing cervical tissue consistency. This trial is crucial for refining its real-time diagnostic capabilities.
- Fine Birth Device: Innitius' Fine Birth is a portable diagnostic device designed to assess the risk of spontaneous preterm delivery. It utilizes torsional waves and AI to differentiate between false and true preterm labor threats, reducing unnecessary hospitalizations and associated costs.
- Year-End Update: Innitius reflected on its achievements in 2023, highlighting advancements in various departments and reinforcing its mission to bridge the gap between innovative technology and women's well-being.
Technology Advancements
Innitius' technology combines torsional waves with AI to analyze changes in cervical tissue consistency. This approach is aimed at providing more accurate diagnostic tools for preterm labor, addressing the limitations of current methods which often result in false positives and unnecessary interventions.
Team Updates
While specific team updates are not detailed in recent press releases, Innitius emphasizes its commitment to collaborative research and innovation. The company was founded as a spin-off from the University of Granada and the Andalusian Health Service, reflecting its strong academic and research roots.
Patents
There is no specific mention of new patents filed by Innitius in recent press releases. However, the company's technology is built on novel applications of torsional waves and AI in medical diagnostics, which could be the subject of ongoing patent development or filings.
Press Releases on Innitius.com
Innitius maintains an active press release section on its website, detailing milestones such as clinical trial completions and updates on product development. These releases highlight the company's focus on improving diagnostic accuracy and reducing healthcare costs associated with false preterm labor diagnoses.
Social Media and Website Updates
Innitius' website offers insights into its mission, technology, and recent achievements. While specific social media updates are not detailed, the company likely uses these platforms to share news and updates related to its innovative diagnostics solutions.
Sources:
- Innitius – Actionable Diagnostics for Women's Health
- Celebrating a Milestone for Innitius: The Completion of Clinical Trial 1
- Company – INNITIUS
- Reflecting on a Year of Innovation and Advancement
4 The Technology Advancements
Overview of Ultrasound-Innovation Medtech Sociedad Limitada
Ultrasound-Innovation Medtech Sociedad Limitada, operating as Innitius, is a medical device startup based in Spain. It was founded in 2018 as a spin-off of the University of Granada and the Andalusian Health Service. The company specializes in developing innovative diagnostic technologies, focusing particularly on women's health.
Current Capabilities
Innitius is primarily known for its Fine Birth device, an in-vivo and non-invasive diagnostic tool designed to measure the mechanical properties of cervical tissue. This technology aims to accurately differentiate real preterm births from false threats, enhancing prenatal care by providing real-time risk assessments for spontaneous preterm delivery.
Advancements Since EIC Accelerator Funding
On October 5, 2022, Innitius received funding from the EIC Accelerator. Since then, the company has continued to advance its technology and market presence:
- Clinical Trials and Validation: Innitius has been conducting clinical trials in several hospitals across Spain to validate its Fine Birth device. This includes sites like Hospital Universitario San Cecilio, Granada, and Hospital Universitario de Cruces, Barakaldo. These trials are crucial for obtaining necessary certifications for market entry.
- Market Development Plans: The company has outlined plans for product development and transfer to production phases, with a focus on reaching the market with improved solutions.
- Technological Enhancements: While specific details on new features or technological enhancements are not widely published, the company's ongoing research and development suggest continuous improvement of its diagnostic capabilities.
- Clinical Demonstrations and Trials: Innitius has been actively involved in clinical settings, demonstrating its technology through trials. However, specific updates on new demonstrations or pilot programs since the EIC funding are not available in public records.
- Patents and Scientific Studies: There is no publicly available information on new patents or scientific studies specifically linked to advancements made after receiving the EIC Accelerator funding.
Future Outlook
Innitius is positioned to benefit from the growing demand for advanced ultrasound devices in Spain, driven by technological innovations and collaborations with healthcare providers. The company's focus on improving diagnostic accuracy and efficiency aligns with broader trends in the healthcare sector, particularly in the development of point-of-care ultrasound technologies.
Sources
- Company – INNITIUS
- INNITIUS (Ultrasound-Innovation Medtech SL)
- INNITIUS – Actionable Diagnostics for Women's Health
- Spain Ultrasound Devices Market 2025-2034
- The CDTI Innovation invests
5 The Partnerships and Customers
Overview of ULTRASOUND-INNOVATION MEDTECH SOCIEDAD LIMITADA
ULTRASOUND-INNOVATION MEDTECH SOCIEDAD LIMITADA, operating as Innitius, is a Spanish company that specializes in developing medical devices for women's health, particularly focusing on preterm labor diagnostics. Founded in January 2018 as a spin-off from the Andalusian Health Service and the University of Granada, Innitius moved its headquarters to Bilbao in 2019.
Key Developments and Partnerships
Since winning the EIC Accelerator funding in October 2022, Innitius has been advancing its flagship device, Fine Birth. This portable diagnostic tool uses novel torsional wave technology combined with AI to assess the risk of spontaneous preterm delivery within seven days, providing real-time risk assessments to help differentiate between true and false preterm labor threats.
As of the available data, Innitius has not publicly announced new partnerships or customers since the EIC Accelerator funding. However, the company is collaborating with Revolve to develop a web app that aligns with its future vision, indicating ongoing efforts to enhance its technological offerings.
Nature of Relationships and Market Positioning
The partnership with Revolve suggests that Innitius is focusing on digital integration and user interface improvements for its diagnostic solutions. This can position Innitius more strongly in the market by offering comprehensive, user-friendly diagnostic tools that complement its innovative medical devices.
Technology Advancements and Scaling
Innitius's focus on integrating AI and novel wave technologies into its devices is crucial for advancing its diagnostic capabilities. These advancements can help reduce false positives in preterm labor diagnosis, thereby reducing healthcare costs and improving patient outcomes. The company's ongoing clinical validation of the Fine Birth device is essential for obtaining necessary certifications and scaling its market presence.
Conclusion
Innitius's advancements in diagnostic technology, coupled with strategic partnerships like the web app development with Revolve, are poised to enhance its market position and contribute to technological innovation in women's health diagnostics. The EIC Accelerator funding has likely supported these efforts, but specific details on new customers or partners are not currently available.
Sources: - Innitius – Actionable Diagnostics for Women's Health
6 The Hiring and Company Growth
Innitius: Team Growth and Development Post EIC Accelerator Funding
Innitius, a Spanish medical device startup specializing in women's health diagnostics, has been actively developing and expanding its operations since receiving the EIC Accelerator funding in October 2022.
Current Headcount and Team Size
While specific details about the current headcount or team size are not readily available, Innitius is known to have a small but dedicated team focused on developing innovative diagnostic solutions. The company, founded in 2018 as a spinoff of the University of Granada and the Andalusian Health Service, has been growing steadily since its inception.
Hiring Status
Innitius is likely to be in a hiring phase as part of its expansion and growth strategy, especially after receiving funding. However, specific job openings are not detailed in the available information. Typically, companies in this stage seek to enhance their R&D capabilities, expand their product portfolio, and build strategic partnerships, which often require additional talent.
Growth and Expansion
Innitius has experienced significant growth since its founding. The company has moved its headquarters to Bilbao, Spain, and has been developing its flagship product, Fine Birth, which is designed to assess the risk of preterm labor using advanced ultrasound technology. The recent funding rounds, including a €1.8 million investment, have further supported its expansion plans and R&D efforts.
Key Positions and New Team Members
While specific key positions recently hired are not mentioned, new team members would likely play crucial roles in research and development, product commercialization, and strategic partnerships. These additions would help Innitius scale its operations and improve its diagnostic technologies, ultimately enhancing its position in the women's health diagnostics market.
Impact on Future Growth
The addition of new team members and the expansion of existing roles would be vital for Innitius as it seeks to commercialize its products and expand its market reach. This growth would enable the company to better serve its target audience, improve patient outcomes, and contribute to advancements in women's health diagnostics.
Changes in Management
There is no information available about significant changes in the management or founding team of Innitius. The company remains led by CEO Rubén Molina, who played a pivotal role in its establishment.
Sources: - INNITIUS – Actionable Diagnostics for Women's Health
- INNITIUS (Ultrasound-Innovation Medtech SL)
- Company – INNITIUS
- Innitius - Products, Competitors, Financials, Employees
7 The Media Features and Publications
ULTRASOUND-INNOVATION MEDTECH SOCIEDAD LIMITADA (INNITIUS): Media and Public Engagement Since securing EIC Accelerator funding in October 2022, ULTRASOUND-INNOVATION MEDTECH SOCIEDAD LIMITADA (operating as INNITIUS) has maintained a focus on advancing its proprietary cervical diagnostics technology while engaging through specialized channels. Below is a synthesis of available public-facing activities and content related to the company:Media Features and Publications
While direct media coverage post-EIC Accelerator win is not explicitly detailed in public records, the company’s work is highlighted through institutional partnerships and research collaborations. For example:- University Spin-off Profile: INNITIUS is recognized as a spinoff of the University of Granada and Andalusian Health Service, emphasizing its roots in academic research dating back to 2009.
- Product Development: Publicly accessible materials describe their flagship device, FINE BIRTH, which uses torsional wave elastography to non-invasively measure cervical tissue consistency for preterm birth risk assessment.
Podcasts or Interviews
No interviews or podcasts featuring INNITIUS team members were identified in publicly indexed platforms. However, industry-specific discussions about ultrasound innovation (e.g., the Integrating Ultrasound Innovation podcast with Novosound’s CEO) do not include direct participation from INNITIUS personnel.Conferences, Fairs, and Presentations
Public records lack explicit mentions of conference participation post-2022. However:Event Involvement
The company’s website does not list recent event participation but emphasizes ongoing R&D milestones:Sources Used (Direct References)
Note: No independent media articles or third-party reports directly citing EIC-related achievements were found.
Do you need EIC Accelerator support?
Here is a list of the key service options for the EIC Accelerator:
Full Writing Service
All proposal sections are written by Stephan Segler, PhD.
Advisory Service
You write in-house but receive 1-on-1 support, templates, instructions, and reviews of all documents.
AI Writer & Training
A high-quality AI writer for EIC Accelerator Step 1 and a comprehensive Training program for Steps 1 and 2 including all templates and instructions.