1 The EIC Accelerator Project

EIC Accelerator Program Overview

The European Innovation Council (EIC) Accelerator program is a strategic initiative designed to support small and medium-sized enterprises (SMEs) and startups in Europe, particularly those operating in the deep tech sector. This program aims to foster innovation by providing financial assistance through a combination of grants and equity investments. The overarching goal is to facilitate the development and scaling of groundbreaking technologies that can address significant societal and market challenges.

Funding Structure

The EIC Accelerator offers two main types of funding: grants and equity investments.

Purpose and Role in the Ecosystem

The EIC Accelerator plays a vital role in the European deep tech and startup ecosystem. It serves as a catalyst for innovation by:

• Supporting High-Risk Projects: The program is particularly focused on high-risk, high-reward projects that traditional investors might overlook. This is essential in fostering an environment where groundbreaking technologies can flourish.
• Encouraging Private Sector Investment: By providing initial funding, the EIC Accelerator helps companies demonstrate viability, which in turn attracts additional funding from private investors. This is crucial for scaling operations and achieving commercial success.
• Creating a Comprehensive Support Network: The EIC Accelerator not only provides financial resources but also access to a network of experts and mentors who can assist startups in navigating the complexities of scaling their businesses.

Case Study: XENERGIC AB and the HIGH-MEMO Project

Company Overview: XENERGIC AB, based in Sweden, is a pioneering company specializing in the development of ultra-high-speed memory technologies aimed at revolutionizing cloud computing.

Project Acronym: HIGH-MEMO

Project Description: The HIGH-MEMO project is focused on creating ultra-high-speed memory solutions that promise to enhance cloud-computing performance significantly. The project aims to address the growing demand for faster, more efficient data processing capabilities essential for modern cloud applications.

Funding Type: XENERGIC AB secured funding through the EIC Accelerator exclusively in the form of a grant, which will be utilized to support the further development and commercialization of their innovative memory technology.

Submission Timeline: The company submitted its Step 2 proposal on March 23, 2022, and subsequently won approval during the Step 3 interview, marking a significant milestone in their development journey.

Technology Basics and Background

The technology underpinning the HIGH-MEMO project revolves around the development of advanced memory architectures that exceed the performance metrics of existing solutions. Traditional RAM technologies have limitations in terms of speed and efficiency, particularly in high-demand environments such as cloud computing, where processing large volumes of data swiftly is critical.

XENERGIC AB is focused on creating memory solutions that leverage novel materials and architectures to achieve unprecedented data transfer rates and reduced latency. The implications of such advancements are substantial, as they can lead to more efficient data centers, improve the performance of artificial intelligence applications, and facilitate the development of next-generation computing platforms.

By improving memory speeds, XENERGIC AB aims to not only enhance the performance of cloud services but also contribute to broader technological innovations across various sectors, including artificial intelligence, machine learning, and big data analytics.

In conclusion, the EIC Accelerator program serves as a vital resource for innovative companies like XENERGIC AB, providing the necessary funding and support to drive technological advancements that can significantly impact the market and society at large. The HIGH-MEMO project exemplifies the potential of deep tech solutions to transform cloud computing performance, positioning XENERGIC AB as a leader in this critical field.

2 The Funding Rounds

# Xenergic AB: A Swedish Innovation in Memory Technology

Xenergic AB is a Swedish company that has established itself as an innovator in the field of low-power on-chip memory solutions. Founded in 2017 by researcher Babak Mohammadi and serial entrepreneur Anders Berglund, with support from Lund University's LU Innovation and Joachim Rodrigues, Xenergic has developed revolutionary memory technology that significantly reduces power consumption while increasing performance of integrated circuits.

Company Overview

Xenergic designs SRAM technology aimed at revolutionizing system-on-chip power efficiency. Their IoT SRAM technology cuts energy consumption by 70-90%, operates 2-3x faster, and is 30% more efficient than conventional solutions. The company provides what they claim to be the lowest power and highest performance on-chip memory IP available on the market, designed to be easily integrated into various circuit designs.

Headquartered in Lund, Sweden, Xenergic employs experts from diverse nationalities who work at the company's office in Lund. The company serves various market segments that require area-efficient and low-power memories, including connected devices, mobiles, wearables, automotive applications, and high-speed computation and communication infrastructure such as data centers and 5G networks.

Funding History

Xenergic has secured several rounds of funding to support its growth: European Innovation Council (EIC) Accelerator Grant

• Amount: €2.5 million
• Date: March 2022
• This grant was awarded after Xenergic submitted its Step 2 proposal on March 23, 2022, and subsequently succeeded in the Step 3 interview.

Equity Financing Round

• Amount: 40 million SEK (approximately $4.7 million USD)
• The round attracted significant interest from new investors, enabling the company to strengthen its organization and deliver its memory technology to a growing customer base.

Earlier Investment

In July 2021, the company received an undisclosed amount of funding.

Investors and Partnerships

Xenergic has attracted various investors and formed strategic partnerships:

• Almi Invest: A Swedish investor that has backed Xenergic. Half of Almi Invest's funding originates from European Union structural funds.
• Bosch Sensortec: In 2021, Xenergic entered into a strategic partnership agreement with this company.
• Rich Page: One of Xenergic's advisors is Rich Page, an Apple Fellow who founded NeXT computer with Steve Jobs.

Recognition and Achievements

Xenergic has received notable recognition in the industry:

• Named one of Europe's best high-tech companies at the Hightech Venture Days (HTVD) event organized by German organization HighTech Startbahn.
• The company reported a turnover of 21.69K KSEK according to its latest filings (2023).

Market Position and Future Outlook

Xenergic's technology addresses critical needs in the growing Internet of Things (IoT) and Artificial Intelligence (AI) markets, which require increasingly more memory with higher bandwidth while maintaining low power consumption. The company has reported positive feedback from customers and has several discussions with potential new customers in its sales pipeline that it plans to commercialize in the near future.

As the company continues to grow following its EIC Accelerator funding in March 2022, it is positioned to expand its presence in the memory solutions market, particularly for applications requiring high performance with minimal power consumption.

• Blue Economy - Xenergic company information
• Almi Invest - Investor database
• Xenergic: Home
• Dealroom.co - Xenergic company information
• Xenergic raises 40 MSEK in new share issue
• Creditsafe - Xenergic AB full company profile

3 The Press Releases

Xenergic AB: Innovations and Developments

Since winning the EIC Accelerator funding on March 23, 2022, Xenergic AB, a Swedish company based in Lund, has continued to innovate and expand its presence in the technology sector. Xenergic is known for its pioneering work in ultra-low power Static Random Access Memory (SRAM) solutions, which significantly reduce power consumption and enhance performance in integrated circuits.

Technology Advancements

Xenergic's SRAM solutions are tailored for specific design needs, making them highly efficient in various technologies. These include applications in the Internet of Things (IoT), Artificial Intelligence (AI), and microelectromechanical systems (MEMS). Their MemoryTailorTM technology allows for customized memory solutions that meet the voltage, speed, and area constraints of different circuits, significantly extending battery life and enabling more features in devices.

Partnerships

One notable partnership is with Bosch Sensortec, where Xenergic provides ultra-low power SRAM for Bosch's sensing solutions. This collaboration enhances sensor functionality and extends battery life in products like smartphones, wearables, and IoT devices.

Funding and Growth

In July 2021, Xenergic raised SEK 40 million (approximately EUR 3.8 million) in a new share issue, indicating a strong interest in its memory technology. This funding has enabled the company to strengthen its organization and expand its customer base.

Team and Operations

Xenergic is driven by a dynamic team of engineers with diverse backgrounds. The company operates from Lund, Sweden, and has been recognized as one of Europe's best high-tech companies.

Press Releases and Updates

Xenergic regularly updates its website with news and announcements, although specific press releases related to the EIC Accelerator funding are not detailed. The company's updates typically focus on its innovative memory solutions and partnerships.

Sources

• Cadence's Press release with Xenergic
• News - Xenergic
• Xenergic Raises 40 MSEK In New Share Issue - Design And Reuse
• Xenergic's SRAM For Next Generation Of Ultra-Low Power Products
• Xenergic - Innovative Memory For A Connected World

4 The Technology Advancements

Xenergic AB: Post-EIC Accelerator Funding Advancements

Since receiving a €2.5 million EIC Accelerator grant in 2022, Xenergic AB has continued advancing its ultra-low-power SRAM technology while expanding market presence. The Lund-based semiconductor firm specializes in cutting-edge memory solutions that reduce power consumption by 70-90% in system-on-chip (SoC) designs, addressing critical needs for IoT, AI/ML, and MEMS applications.

Technological Developments

Xenergic’s MemoryTailor™ platform remains central to its innovation, offering customizable SRAM configurations optimized for voltage, speed, and area constraints. While no explicit post-2022 technical upgrades are publicly detailed, the company emphasizes ongoing improvements to enable richer functionalities (e.g., integrated AI/ML features) and extended battery life in next-gen sensors and edge devices. Their patented SRAM architecture reduces leakage currents through asymmetrical inverter designs and specialized read/write path optimizations, as evidenced by granted patents like US11462262.

Market Demonstrations

In 2021–2022, Xenergic secured a strategic partnership with Bosch Sensortec, supplying ultra-low-power SRAM for MEMS-based sensor solutions used in wearables, AR/VR devices, and IoT products. This collaboration highlights real-world adoption of their technology to enhance performance while minimizing energy use. The company also reported an active sales pipeline targeting automotive, datacenter/5G infrastructure, and mobile device markets.

Intellectual Property & Research Outputs

Post-2022 patent filings remain undisclosed publicly; however earlier patents (e.g., US12045553 granted July 2024) demonstrate sustained R&D focus on memory-in-logic integration methods to streamline chip design workflows. No recent whitepapers or peer-reviewed studies were identified through available sources.

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Sources

• Xenergic's SRAM for next generation of ultra-low power products
• LU Holding – Highlights 2022
• Patents Assigned to Xenergic AB

5 The Partnerships and Customers

Xenergic AB: A Leader in Low-Power Memory Solutions

Xenergic AB, based in Sweden, has gained significant recognition for its groundbreaking low-power memory technology. Founded in 2017 by Babak Mohammadi and Anders Berglund, the company has been at the forefront of innovation in memory IP solutions. Following its success in securing funding from the European Innovation Council (EIC) Accelerator in March 2022, Xenergic has further solidified its position in the market.

Partnerships and Customers

One of the notable partnerships Xenergic has entered into is with Bosch Sensortec. This strategic agreement highlights Xenergic's commitment to delivering cutting-edge memory solutions, which are crucial for enhancing the efficiency of integrated circuits. The company's technology is particularly beneficial for industries seeking to reduce power consumption and increase performance, such as in connected devices, mobiles, wearables, automotive applications, and high-speed computing environments like data centers and 5G infrastructure.

New Partners and Customers

While specific names of new partners or customers are not detailed in recent updates, Xenergic mentions having several interesting discussions with new customers in their sales pipeline. These potential collaborations are slated to be commercialized in the near future, reflecting a growing interest in their innovative memory solutions.

Nature and Purpose of New Relationships

The purpose of these emerging relationships is to further integrate Xenergic's low-power memory technology into more applications, particularly those requiring high bandwidth and low power consumption, such as Internet of Things (IoT) and Artificial Intelligence (AI) systems. These partnerships will help position Xenergic as a leader in providing tailored memory solutions for diverse technology needs.

Market Positioning

By establishing new relationships, Xenergic will strengthen its market presence as a provider of highly efficient memory solutions. The company's ability to deliver on its promises of reduced power consumption and increased performance will continue to attract customers from various sectors, enhancing its reputation as a key player in the semiconductor industry.

Technology Advancements and Scaling

The funding from the EIC Accelerator and the strategic partnerships will enable Xenergic to accelerate technological advancements. By investing in research and development, the company can refine its memory IP designs, addressing the evolving needs of the market. This will also support scaling efforts, allowing Xenergic to expand its customer base and increase its market share in the low-power memory solutions sector.

Conclusion

Xenergic's success with the EIC Accelerator funding, coupled with its partnerships and customer engagements, positions the company for significant growth and technological innovation. As the demand for energy-efficient and high-performance memory solutions continues to rise, Xenergic is poised to meet these challenges head-on, solidifying its role as a leading provider of low-power memory IP solutions.

Sources

• Xenergic: Home
• Xenergic raises 40 MSEK in new share issue
• About Us - Xenergic
• News - Xenergic
• Lund University successful with the European Innovation Council
• LU Holding – Highlights 2022

6 The Hiring and Company Growth

Xenergic AB: Growth and Team Development

Xenergic AB, a Swedish company specializing in low-power memory IP solutions, received EIC Accelerator funding on March 23, 2022. Since then, the company has been focused on expanding its team and technology to meet the growing demand for efficient memory solutions.

Current Headcount and Team Size

The current headcount or specific team size of Xenergic AB is not publicly disclosed. However, the company operates with a diverse team of IC design experts from multiple nationalities, indicating a dynamic and growing workforce.

Hiring Status

Xenergic AB is actively hiring, particularly seeking ambitious candidates in circuit design. They encourage interested individuals to send their CVs to match their technical expertise with available positions.

Growth and Recent Hires

While specific details about recent hires or key positions are not available, Xenergic's growth is supported by their focus on cutting-edge technology and collaboration. The company's Pre-IPO funding in 2021, totaling approximately 40 MSEK, was aimed at furthering commercialization and product development.

Impact of New Team Members

New team members play a crucial role in enhancing Xenergic's ability to innovate and deliver high-quality memory solutions. The company's emphasis on collaboration and innovative thinking helps scale their operations and improve product efficiency.

Management and Founding Team Changes

There are no reported changes in Xenergic's management or founding team. The company is led by CEO Anders Berglund and CTO Babak Mohammadi, who have been instrumental in shaping its strategic direction.

Future Prospects

With a strong foundation in low-power memory design and ongoing recruitment efforts, Xenergic AB is poised for continued growth and success. Their focus on innovative memory solutions positions them well in the market for data-intensive technologies.

Sources: - About Us - Xenergic

• Xenergic: Home
• Xenergic AB's Private Placement - Redeye
• Career - Xenergic

7 The Media Features and Publications

Xenergic AB: An Insight into the Swedish Semiconductor IP Provider

Xenergic AB, a Swedish company specializing in extreme low-power SRAM solutions, has gained significant attention since winning the EIC Accelerator funding in March 2022. Located in Lund, Sweden, Xenergic is part of a thriving tech ecosystem that has historically been pivotal in technological innovations.

Media Features and Publications

Xenergic has been featured in various media and publications for its innovative memory solutions. Notably, Cadence's press release highlighted their collaboration with Xenergic, emphasizing the strength of their partnership and future collaborations. Additionally, Xenergic was listed among top semiconductor startups in Sweden by EU Startups, recognizing its contributions to low-power SRAM technology.

Content from Publications

Publications have praised Xenergic for its focus on power efficiency and performance in memory IP solutions. The company's expertise in designing memory IPs with strong foundations in power efficiency and patented low-power solutions is highlighted as a key strength.

Podcasts or Interviews

There is currently no publicly available information on specific podcasts or interviews conducted by the Xenergic team.

Conference and Fair Visits, Presentations

Xenergic has participated in significant events such as the Design Automation Conference (DAC), where they were noted as a representative from their website. However, specific details about presentations or participations are not readily available in the public domain.

Involvement in Events

Xenergic has promoted their SRAM solutions at technology events and has been involved in projects like the development of a digital predistortion power amplifier for the NB-IoT standard, collaborating with academic institutions like Lund University.

Conclusion

Xenergic AB continues to be a notable player in the semiconductor industry, particularly in low-power SRAM technology. Their involvement in significant projects and collaborations underscores their commitment to innovation and efficiency.

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Sources:

• Xenergic: Home
• Cadence's Press release with Xenergic
• Xenergic AB - A Company At Ideon
• 13 Top Semiconductor Startups and Companies in Sweden
• A Digital Predistortion Power Amplifier for the NB-IoT Standard
• About Us - Xenergic
• JULY 9-13, 2023 - Design Automation Conference