1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program, part of the European Innovation Council, aims to support small and medium-sized enterprises (SMEs) and startups in the European Union and associated countries. With a focus on deep tech and innovative solutions, the program provides funding and resources to accelerate the development of groundbreaking technologies and business models.

Funding Structure

The EIC Accelerator offers a blended finance approach, which consists of two main components: grants and equity investments. The grant component can be up to €2.5 million, designed to cover costs associated with technology development and scaling. This non-repayable grant is particularly beneficial for companies in the early stages of innovation.

In addition to grants, the EIC Accelerator also provides equity financing, which can amount to €15 million until 2024. From 2025 onward, this equity investment will be capped at €10 million. The equity component is crucial for helping companies secure the necessary funding to scale their operations and attract further private sector investment.

Purpose and Impact

The EIC Accelerator serves as a vital mechanism in the European deep tech and startup ecosystem. It not only provides financial support but also fosters innovation by connecting startups with mentorship, networking opportunities, and investor relations. The program is designed to help companies navigate the complexities of scaling their operations, thereby increasing their chances of success in competitive markets.

The EIC Accelerator also aims to stimulate private sector investments by building a track record of successful funding rounds for innovative startups. By providing a credible endorsement through its selection process, the EIC Accelerator enhances the attractiveness of these companies to private investors.

INSPEK and the MultiSpek Project

INSPEK, based in France, is a notable winner of the EIC Accelerator program. The company has developed an innovative project known as MultiSpek, which is an on-chip multi-sensing platform tailored for single-use biopharmaceutical applications.

Project Overview

The MultiSpek project seeks to revolutionize the biopharmaceutical production process by providing a versatile and efficient sensing platform that can monitor multiple parameters simultaneously. This technology aims to enhance the quality control processes in biopharmaceutical manufacturing, reducing the time and costs associated with product development while ensuring compliance with stringent regulatory standards.

Technology Background

The MultiSpek platform integrates advanced sensing technologies on a single chip, allowing for real-time monitoring of critical parameters such as pH, temperature, and concentration of various biomolecules. This capability is particularly advantageous in the biopharmaceutical sector, where precision and reliability are paramount.

The technology leverages microfabrication techniques to create a compact, scalable solution that can be easily integrated into existing manufacturing workflows. By enabling single-use applications, MultiSpek minimizes the risk of cross-contamination, a common concern in biopharmaceutical production.

Funding and Future Prospects

INSPEK's selection for the EIC Accelerator program, particularly after submitting a Step 2 proposal on March 13, 2024, demonstrates the project's potential to impact the industry significantly. With grant funding of up to €2.5 million and access to equity financing, INSPEK is well-positioned to advance the development and commercialization of MultiSpek.

This funding will facilitate further research and development, allowing the company to refine its technology and scale its operations. The backing from the EIC Accelerator not only provides financial resources but also enhances INSPEK’s credibility, making it more attractive to private investors who are essential for long-term growth.

Conclusion

The EIC Accelerator plays a critical role in fostering innovation within the European startup ecosystem, particularly in the deep tech sector. By providing a structured funding approach that combines grants and equity investments, the program empowers companies like INSPEK to develop cutting-edge technologies such as MultiSpek. This initiative not only supports individual companies but also contributes to the advancement of the biopharmaceutical industry, enhancing the overall competitiveness of European innovation on a global scale.

2 The Funding Rounds

Financing Raised by INSPEK (France) Since EIC Accelerator Funding

Overview

INSPEK, based in France, specializes in real-time monitoring and photonic sensing solutions for industries such as bioprocessing and chemical manufacturing. The company was selected for EIC Accelerator funding following its submission on March 13, 2024. Since then, INSPEK has completed significant financing rounds that have enabled it to advance commercialization efforts.

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Funding Rounds & Amounts

Seed Round – September 2024

• Amount: €3.5 million
• Date: September 2024
• Type: Seed round
• Investors:
• Breega (co-lead)
• Wind Capital (co-lead)
• Quantonation (participant)

This seed round provided critical early-stage capital to support the commercial launch of INSPEK’s Raman-on-chip spectroscopy sensor technology.

EIC Accelerator Grant – March/July 2024

• Amount: €2.5 million
• Date Announced: July 2024; awarded after successful Step 3 interview following March cut-off.
• Type: Non-dilutive grant from the European Innovation Council's Accelerator program.

The grant directly supported scale-up activities and further research & development.

Total Funding Raised Since EIC Submission:

INSPEK’s total new financing since its successful EIC application is approximately €6 million—comprising the €3.5M seed round plus a €2.5M EIC grant. Prior disclosed funding included $560k from earlier accelerator/incubator programs prior to this period.

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Timing of Funding Rounds

Round	Date	Amount
Seed	Sep 2024	€3.5M
EIC Accelerator Grant	Jul 2024	€2.5M

EIC award decisions were publicly announced in July; funds are typically disbursed within three months of decision per program norms.

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Investors Involved

Seed Round Investors:

• Breega (Venture Capitalist; co-lead)
• Wind Capital (Venture Capitalist; co-lead)
• Quantonation (Deep-tech VC fund focused on quantum technologies)

Previous investors before this period include Creative Destruction Lab and MIT Deshpande Center for Technological Innovation during earlier accelerator phases.

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Company Valuation

No public sources specify an explicit post-money valuation for INSPEK following these rounds as of May 2025.

However, given typical early-stage deal structures in Europe—where seed rounds often value deep-tech startups at between ~€10–€20 million post-money—and considering participation from major VCs and a non-dilutive grant component, it is likely that INSPEK’s implied valuation falls within or slightly above this range after closing its September seed round.

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Exit Events: IPOs or Acquisitions

As of May 6, 2025:

There are no reports or announcements regarding an IPO, acquisition/buyout, or other exit event involving INSPEK.

The company remains privately held and continues to operate with support from recent venture capital investment and public grants.

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Summary Table

Event	Date	Details
Seed Round	Sep 25, 2024	€3.5M led by Breega & Wind Cap., joined by Quantonation
EIC Grant	Jul/August '24	€2.5M non-dilutive accelerator grant
Total New Financing	Mar–Sep '24	~€6 million

(EIC decisions announced July; disbursement typically follows within three months.)

No exit events have occurred as of current reporting.

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Sources

• InSpek raises €6 million in funding from seed round and EIC grant
• InSpek raised €6m in funding
• InSpek Seed Round information – Seedtable

3 The Press Releases

INSPEK: A French EIC Accelerator Winner

INSPEK, a French company, was selected as a winner of the European Innovation Council (EIC) Accelerator funding during the March 2024 call. INSPEK's innovative project involves developing an on-chip multi-sensing platform for single-use biopharmaceutical applications.

Company Overview

INSPEK is part of the entrepreneurship and innovation ecosystem at École polytechnique, highlighting its strong roots in cutting-edge technology development. The company's focus on biopharmaceutical applications underscores its contribution to the advancement of healthcare and biotechnology sectors.

Technology Advancements

INSPEK's technology involves the integration of multiple sensing capabilities into a single chip, which is particularly beneficial for applications in biopharmaceuticals. This innovation can enhance the efficiency and precision of biopharmaceutical processes, potentially leading to breakthroughs in drug development and production.

Funding and Recognition

INSPEK's selection for the EIC Accelerator funding is a testament to its innovative potential and the company's ability to align with the EIC's mission to support groundbreaking technologies. The EIC Accelerator is highly competitive, and being chosen reflects INSPEK's strong proposal and business case.

Presence and Partnerships

As part of the École polytechnique's ecosystem, INSPEK likely benefits from collaborations and partnerships within this network, which can facilitate access to resources, expertise, and potential future collaborations.

Press Releases and Updates

Currently, there are no specific press releases or updates available directly from inspek-solutions.com regarding their EIC Accelerator win. However, the news of their selection as an EIC winner has been highlighted in various reports and analyses about the EIC Accelerator's March 2024 call.

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Sources: - EIC Accelerator: Statistics and Results from the March 2024 call

• EIC Accelerator March 2024 Results: A Detailed Analysis of Funding Distribution and Success Rates
• Two X start-ups receive EIC funding

4 The Technology Advancements

Overview of InSpek

InSpek is a French company specializing in photonic sensing solutions. The company's primary goal is to revolutionize bioprocessing and chemical sensing by leveraging Photonic Integrated Circuits (PICs) and traditional optical sensing techniques. This approach enables real-time monitoring of critical parameters such as cell growth, nutrient levels, and metabolic activity, thereby streamlining bioprocessing across industries like biopharma, precision fermentation, fine chemicals, and agri-tech.

Funding and Advancements

InSpek secured €6 million in funding through a seed round and an EIC grant in 2024. This funding was crucial for accelerating the company's technology to deliver real-time insights and control over bioprocesses, which can reduce costly delays and failures.

Since receiving the EIC Accelerator funding, InSpek has not publicly disclosed specific advancements in technology or features directly related to the funding. However, the company's focus remains on enhancing its photonic sensing solutions to provide high-precision monitoring, which is a significant improvement over traditional methods like offline sampling and batch testing.

Market Demonstration and Intellectual Property

There is no published information on whether InSpek has demonstrated its technology in the market through customers, demonstrators, pilots, or clinical trials since the funding. Additionally, there are no recent announcements regarding new patents filed or scientific studies published by InSpek.

InSpek's technology combines optical microchip technology to sense multiple molecules, temperature, acidity, oxygenation, and more. This innovative approach brings bioprocess and chemical sensing into a new era, offering potential for significant market impact.

Conclusion

InSpek continues to focus on integrating photonics into bioprocessing to enhance efficiency and sustainability. While specific advancements since the EIC funding are not detailed, the company's innovative approach positions it well for future growth and development in the biotechnology sector.

Sources

• InSpek secures €6 million to accelerate biomanufacturing with photonics
• InSpek raises €6 million in funding from seed round and EIC grant
• InSpek Solutions
• InSpek Solutions - Head of Marketing

5 The Partnerships and Customers

InSpek's Strategic Partnerships and Market Positioning Post-EIC Accelerator Funding Paris-based InSpek, a developer of real-time photonic sensing solutions and Raman-on-chip spectroscopy technology, secured €6 million in combined seed funding and EIC Accelerator grants in 2024. While specific customer names remain undisclosed, the company’s collaboration with key investors and institutions highlights its growth trajectory.

Key Partnerships:

• Breega & Wind Capital: Co-led InSpek’s €3.5 million seed round, indicating strong investor confidence in its commercial potential.
• Quantonation: The venture capital firm participated in the seed funding, aligning with InSpek’s focus on quantum-inspired photonic innovations.
• École Polytechnique Ecosystem: As part of its innovation network, InSpek benefits from academic partnerships to refine its sensor technology.

Market Positioning:
The EIC Accelerator grant (€2.5 million) supports scaling production of its miniaturized spectroscopy sensors for industrial applications like pharmaceuticals and materials science. By integrating Raman-on-chip technology into portable devices, InSpek targets sectors requiring rapid chemical analysis without lab dependency.

Technology Advancements:
Funding will accelerate R&D for enhanced sensor sensitivity and AI-driven data analytics integration. Partnerships with deep-tech investors like Quantonation could facilitate cross-industry collaborations to expand use cases in environmental monitoring or precision agriculture.

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Sources

• InSpek raises €6 million in funding from seed round and EIC grant
• Two X start-ups receive EIC funding - École polytechnique

6 The Hiring and Company Growth

InSpek: A Biomanufacturing Innovator

InSpek, a Paris-based startup specializing in photonic sensing solutions, has been making waves in the biomanufacturing sector. After securing significant funding in 2024, the company is well-positioned for growth and expansion.

Team and Hiring

While specific details about InSpek's current team size and headcount are not publicly available, the company is actively involved in hiring for key positions, such as a Business Developer in Bioprocessing. This role focuses on penetrating new markets, enhancing brand visibility, and driving customer acquisition.

Funding and Growth

InSpek secured a €6 million investment to accelerate biomanufacturing with photonics. This funding round, co-led by Breega and Wind, underscores the company's potential for transformative impact in real-time monitoring and control of bioprocesses. The investment highlights InSpek's growth trajectory and its potential to scale across various industries, including biopharma and agri-tech.

Key Positions and Future Impact

The hiring of key roles like the Business Developer in Bioprocessing indicates InSpek's strategic focus on market expansion and revenue growth. New team members will play a crucial role in enhancing brand awareness, identifying market trends, and aligning marketing strategies with the company's business goals. These additions will help InSpek scale by leveraging its innovative photonic sensing technology to streamline bioprocessing, reduce costs, and enhance sustainability.

Management and Founding Team

The company's leadership includes Jérôme Michon as CEO and co-founder, alongside other co-founders like Juejun Hu, Laurent Vivien, and Derek Kita. There are no reported changes in the founding team or management since receiving the EIC Accelerator funding.

Scaling and Growth

InSpek's technology, based on Raman-on-a-chip integrated photonic sensors, is poised to revolutionize biomanufacturing by providing real-time insights into biological processes. This capability will allow for more efficient production, reduced waste, and enhanced product quality. With its innovative approach and strategic hiring, InSpek is well-positioned to make significant strides in the biotech industry, enabling the company to scale effectively and achieve its vision of transforming bioprocessing.

Sources

• Paris-based InSpek secures €6 million to accelerate biomanufacturing with photonics
• InSpek • Enlightening your processes
• InSpek - EuroQuity
• About - inSpek Solutions
• Business Developer in Bioprocessing - inSpek Solutions

7 The Media Features and Publications

INSPEK: Media Coverage and Public Engagement Since EIC Accelerator Funding

Media Features and Publications
INSPEK, a Paris-based startup specializing in real-time photonic sensing solutions, has garnered attention from multiple tech-focused publications following its EIC Accelerator win. The company secured a €2.5 million grant alongside a €3.5 million seed round co-led by Breega and Wind Capital, with participation from Quantonation. Electro Optics highlighted INSPEK’s development of Raman-on-chip spectroscopy sensors for applications in pharmaceuticals and biotechnology, while École polytechnique’s news portal emphasized its selection under the EIC Accelerator 2024 program to commercialize disruptive innovations.

Though no specific podcasts or interviews were identified in publicly available records, INSPEK’s funding milestones have been widely covered in industry media.

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Conference Participation and Events
While direct mentions of conferences or fairs attended by INSPEK remain undisclosed in the sourced materials, the company’s association with École polytechnique suggests potential involvement in academic-industry events within France’s deep-tech ecosystem. The EIC Accelerator program often facilitates networking opportunities for winners through EU-sponsored innovation summits, though explicit details about INSPEK’s engagements are not yet publicized.

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Sources

• InSpek raises €6 million in funding from seed round and EIC grant
• Two X start-ups receive EIC funding