1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program is a crucial component of the European Innovation Council (EIC) aimed at supporting small and medium-sized enterprises (SMEs) and startups in the European Union. This initiative focuses on high-risk, high-potential innovations, particularly in the DeepTech sector, fostering the growth and scaling of breakthrough technologies. Aimed at both startups and SMEs, the program offers a unique blend of financial support through grants and equity investments, designed to catalyze innovation and expedite the journey from concept to market.

Funding Structure

The EIC Accelerator provides a mixed funding model known as "blended finance." This structure includes:

This dual funding approach allows companies to mitigate risk while gaining access to substantial capital necessary for growth and development.

Purpose Within the European Ecosystem

The EIC Accelerator serves as a vital player in the European startup and DeepTech ecosystem. By providing financial support and facilitating access to private investment, the program enhances the ecosystem's capacity for innovation. It plays a pivotal role in bridging the funding gap that many startups face, particularly in the early stages of development when financial backing is crucial for scaling operations. The EIC Accelerator not only supports companies in bringing their innovative solutions to market but also encourages the creation of jobs and the promotion of sustainable practices across industries.

Role in Scaling and Funding

The EIC Accelerator aids companies in scaling their operations by providing not just financial resources but also strategic guidance and networking opportunities. The program connects entrepreneurs with a wide array of stakeholders, including venture capitalists, industry experts, and potential customers, thereby enhancing their chances of securing additional funding. This holistic support framework is essential for startups looking to navigate the often complex landscape of innovation and market entry.

EIC Accelerator Winner: Kern Tec GmbH

Project Overview: Cyanide Extraction Technology

Kern Tec GmbH, an Austrian startup, emerged as a notable winner of the EIC Accelerator with its innovative project, "Cyanide Extraction." This groundbreaking technology focuses on the detoxification of oilseeds and fruit seeds that naturally contain cyanogenic glycosides—compounds that can release toxic cyanide when metabolized. The aim is to upcycle these seeds, transforming them into edible and usable products for the food industry for the first time.

Technology Basics and Background

The technology developed by Kern Tec is rooted in a deep understanding of biochemistry and food safety. Cyanogenic glycosides are present in various seeds and plants, including almonds, cassava, and certain fruit pits. While these seeds can be a rich source of nutrients and other beneficial compounds, their inherent toxicity poses significant challenges for their use in food products.

Kern Tec's innovative solution employs a specialized enzymatic treatment process that effectively detoxifies these seeds, rendering them safe for consumption. This process not only addresses food safety concerns but also contributes to the sustainable use of agricultural by-products. By upcycling seeds that would otherwise be discarded, the technology promotes a circular economy, reducing waste and enhancing resource efficiency within the food supply chain.

The potential applications of the Cyanide Extraction technology are vast, offering opportunities for creating new food products, supplements, and ingredients that can enrich the existing food landscape. By harnessing this technology, Kern Tec aims to not only improve food safety but also to tap into the growing demand for sustainable and innovative food solutions.

In summary, the EIC Accelerator program stands as a transformative initiative in the European innovation landscape, exemplified by the achievements of companies like Kern Tec GmbH. Through its comprehensive support structure, the program facilitates the emergence of groundbreaking technologies that have the potential to reshape industries and improve sustainability.

2 The Funding Rounds

Kern Tec GmbH: Financing, Funding Rounds, Investors, and Valuation Since EIC Accelerator Success

Financing Raised

Kern Tec GmbH, an Austrian food tech startup specializing in upcycling stone fruit kernels into plant-based ingredients and oils, has seen significant fundraising activity since being awarded EIC Accelerator funding after the October 5th, 2022 cut-off. The company has raised a total of approximately $15.44 million across several funding rounds.

Funding Rounds: Timing & Amounts

Grant (EIC Accelerator): December 21, 2022

Kern Tec secured a grant of €2.5 million from the European Innovation Council (EIC) Accelerator to scale production and develop its innovative fruit stone solutions.

Series A Round: September 23–26, 2023

The company closed a Series A financing round totaling €12 million (approx. $12.78M–$12.8M). This round was led by Belgian impact fund Telos Impact and included investment from the EIC Fund as part of its blended finance offering for top-performing EIC Accelerator companies.

• Other Early Stage/Incubator/Seed Rounds:
• Prior incubation and seed investments are noted before the EIC grant but specific amounts are not detailed in available sources; these contributed to cumulative funds raised prior to Series A.

Investor Information

Key investors in Kern Tec’s recent rounds include:

• Telos Impact: Lead investor for the Series A round; specializes in impact-driven investments focused on sustainability.
• EIC Fund: Participated in Series A as part of its strategy to support deep-tech European startups selected under the EIC Accelerator program.
• PeakBridge: Listed as an investor according to multiple databases; PeakBridge is known for agri-foodtech investments at growth stages.
• Other investors from earlier stages include Plug and Play Ventures.

A total of nine investors have participated throughout various rounds according to CB Insights data, with government-backed funds also involved.

Use of Proceeds & Strategic Developments

Proceeds from both grants and equity financings have been used by Kern Tec to: - Scale production capacity

• Enter new markets including expansion plans toward the US
• Continue research into detoxifying oilseeds for new edible applications

Kern Tec has also launched co-branded plant-based cheese sausages with Berger-Schinken and partnered with dairy producer Bauer on apricot kernel-based drinks—demonstrating commercial traction post-funding.

Company Valuation

Publicly available data suggests that following its latest funding round(s), Kern Tec reached an enterprise valuation estimated at around $22 million as of September 2023. This reflects both the capital inflow from institutional investors and tangible progress scaling their business model.

Exit Events (IPO / Buyouts / Acquisitions)

As of May 2025:

There are no public records or announcements indicating that Kern Tec has undergone any exit event such as an initial public offering (IPO), buyout, or acquisition.

The company remains privately held with ongoing growth initiatives fueled by recent investment rounds.

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Sources

Austria: Schoenherr advises EIC Fund on investment in Kern Tec's EUR 12m Series A financing round Kern Tec Secures €2.5M from EIC Accelerator - Blue Horizon Kern Tec Series A (2023, $12M) - Funding Rounds - Seedtable Schoenherr guides EIC Fund on its investment in Kern Tec | ICLG Kern Tec Stock Price, Funding, Valuation, Revenue & Financial ... | CB Insights Kern Tec company information, funding & investors - Dealroom.co Kern Tech – Funding Details Parsers VC BRANDL TALOS advises Telos Impact on EUR 12 million Series A ...

3 The Press Releases

Kern Tec GmbH: Post-EIC Accelerator Funding Developments

Since securing EIC Accelerator funding in October 2022, Austrian foodtech innovator Kern Tec GmbH has advanced its mission to upcycle stone fruit pits into sustainable food ingredients. The company received a €2.5 million grant from the EIC Accelerator to scale production of its proprietary detoxification technology, which extracts oils and proteins from apricot, plum, and cherry pits—materials traditionally discarded as waste.

In September 2023, Kern Tec raised an additional €12 million in Series A financing led by Telos Impact, with participation from PeakBridge Growth 2 and the EIC Fund. This capital supports global expansion of its plant-based dairy ingredients (e.g., milk, yogurt, cheese) and increases processing capacity at its Austrian facility, which has already repurposed over 2,500 tons of fruit pits. The company reports multimillion-euro purchase orders for its B2B ingredients, reflecting strong market demand for circular economy solutions in the food industry.

While specific patents are not detailed in public records, Kern Tec’s proprietary extraction methods position it as a leader in sustainable ingredient innovation. Co-founders Luca Fichtinger and Michael Beitl emphasize scaling their "whole value chain" to reduce Europe’s annual 500k-ton fruit pit waste stream. No recent team structure updates or social media announcements were identified beyond third-party coverage of funding milestones.

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Sources

• EIC Accelerator winners October 2022 - Strata.team
• Kern Tec Secures €2.5M from EIC Accelerator - Blue Horizon
• Kern Tec Raises €12M in Series A Funding - iGrow News
• Austrian Kern Tec raises €12m Series A Financing - European Biotechnology

Note: No press releases were located directly on kern-tec.com/en; all information derives from third-party publications.

4 The Technology Advancements

Kern Tec GmbH: Advancements Since EIC Accelerator Funding Austria-based Kern Tec GmbH, a leader in upcycling stone fruit pits into sustainable food ingredients, has made significant strides since receiving EIC Accelerator funding. While the exact grant timeline is not publicly detailed beyond a confirmed €2.5 million from the EIC Accelerator, their subsequent €12 million Series A round in September 2023 marked a pivotal phase for scaling operations and technological development.

Current Capabilities

• Production Capacity: Processes over 2,500 tons of apricot, plum, and cherry pits annually at its Austrian facility.
• Technology: Proprietary methods to detoxify kernels by removing amygdalin (a cyanide precursor), enabling safe use in food applications like dairy alternatives and confectionery.
• Supply Chain: Manages end-to-end processing from pit collection to ingredient production.

Post-Funding Advancements

Market Demonstrations & Collaborations

• B2B Partnerships: Supplied ingredients for plant-based milk, yogurt, ice cream, cheese, chocolate spreads (B2C products available via retailers).
• Pilot Projects: Collaborated with industry players to test ingredient functionality in confectionery and dairy analogs^ (exact trials undisclosed).

Intellectual Property & Publications

No new patents or peer-reviewed studies were explicitly cited in available materials. However:

Proprietary detoxification technology remains central to operations as described in media reports but without explicit patent filings mentioned post-EIC funding.

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Sources (Markdown links):

• Kern Tec GmbH - EIT Food
• Austrian foodtech Kern Tec cracks €12 million Series A
• Kern Secures €12m Series A
• Fruit Kernel Milk: US Launch Plans

5 The Partnerships and Customers

Kern Tec GmbH's Strategic Partnerships and Market Positioning Post-EIC Accelerator Funding

Since securing EIC Accelerator funding in late 2022, Austrian foodtech innovator Kern Tec GmbH has expanded its partnerships and customer base significantly, leveraging its upcycling technology to transform stone fruit pits into plant-based dairy ingredients. Below is a breakdown of key collaborations, market strategies, and technological advancements:

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Partners & Customers

• Bauer Group (Germany): Partnered to launch the plant-based brand “ZUM GLÜCK!” in January 2024, offering dairy alternatives using Kern Tec’s apricot kernel ingredients.
• Rewe (Austria): Retails Kern Tec’s consumer-facing products under the Wunderkern brand.
• Coop (Switzerland): Collaborated on snack products derived from upcycled fruit pits.
• Telos Impact: Led Kern Tec’s €12 million Series A round (Sep 2023), prioritizing scaling impact through circular food systems.
• PeakBridge Growth 2 Fund & EIC Fund: Co-investors in the Series A round, emphasizing sustainable ingredient innovation.
• BayWa Venture GmbH: Strategic investor since August 2022, supporting supply chain development for B2B ingredient distribution.

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Market Positioning & Scaling Efforts

The company aims to:

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Technology Advancements Through Partnerships

Proprietary amygdalin removal enables safe use of apricot/plum kernels—previously hazardous due to cyanide content—for human consumption. Collaborative grants from EU/local programs support further process optimization. BayWa’s expertise aids supply chain automation for raw material collection across Europe, while Telos Impact funds enhance manufacturing scalability globally.

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Sources Used:

From fruit stones to tasty food: BayWa AG and Kern Tec GmbH | Austrian foodtech Kern Tec cracks €12 million Series A | Austrian Kern Tec raises €12m in Series A financing | Kern-Tec-Fruit-seed-based-alt-dairy-to-quadruple-production-capacity | Fruit Kernel Milk: Kern-Tec-Lands-Series-A | BayWa und KernTec strategische Partner | EXCLUSIVE: Bauer & KernTec Launch ZUM GLÜCK! Plant-Based Range (vegconomist article)

6 The Hiring and Company Growth

Kern Tec GmbH: Team Growth and Development

Kern Tec GmbH, an Austrian company specializing in upcycling stone fruit pits into sustainable ingredients, has experienced significant growth since receiving funding from the European Innovation Council (EIC) in October 2022.

Current Headcount and Team Size

As of recent data, Kern Tec has approximately 33 employees. However, there was a slight reduction in employee count by 13% last year, which might indicate some restructuring or consolidation efforts.

Hiring Status

There is no specific information available on whether Kern Tec is currently hiring. However, with their recent funding and expansion plans, it is likely that they will continue to build their team to support growth.

Growth and Scaling

Kern Tec has achieved substantial growth since its founding in 2019, particularly after participating in the ProVeg Incubator in 2021. The company raised €12 million in Series A funding in September 2023, marking the largest such raise for an Austrian food tech company. This investment will fuel further scaling and global expansion of their plant-based dairy alternatives and other products made from upcycled fruit pits.

Key Positions and Team Contributions

While specific details on recent hires are not available, the company's founders include Michael Beitl, Luca Fichtinger, Sebastian Jeschko, and Fabian Wagesreither. Luca Fichtinger, as the Managing Director, plays a crucial role in guiding the company's strategic growth and expansion plans.

Future Impact and Scaling

New team members will be essential in helping Kern Tec scale its operations, particularly as it expands globally and develops more products from upcycled fruit seeds. The addition of skilled professionals will enhance the company's ability to innovate and meet the growing demand for sustainable plant-based products.

Management and Founding Team Changes

There are no reported changes in the management or founding team of Kern Tec. The company continues to be led by its co-founders, who are instrumental in driving its mission to transform food waste into valuable ingredients.

Sources

• Team - Kern Tec
• Kern Tec Raises €12M to Scale Up Alt Dairy Products
• We milk apricot seeds - Kern Tec
• Kern Tec: Revenue, Competitors, Alternatives - Growjo
• Kern Tec GmbH
• Kern Tec Information - RocketReach

7 The Media Features and Publications

Kern Tec GmbH Overview

Kern Tec GmbH is an Austrian foodtech company known for its innovative approach to upcycling food waste into valuable ingredients. Founded in 2019 by Michael Beitl, Luca Fichtinger, Sebastian Jeschko, and Fabian Wagesreither, the company utilizes stone fruit pits—such as those from apricots, plums, and cherries—to produce sustainable ingredients for plant-based dairy and confectionery products.

Media Features and Publications

Kern Tec has been prominently featured in various media outlets following its successful Series A funding round. In September 2023, the company secured €12 million, marking one of the largest Series A investments for a foodtech company in Austria. This funding is being used to scale up production and commercialize its plant-based dairy alternatives made from stone fruit seeds. Publications such as Food Ingredients First, FoodNavigator, and Global AgInvesting have highlighted Kern Tec's innovative technology and its potential to reduce food waste significantly.

Content from Publications

Publications have emphasized Kern Tec's proprietary technology, which safely extracts valuable oils and proteins from stone fruit seeds while removing harmful compounds like amygdalin. This process allows the company to create cyanide-free ingredients suitable for human consumption. Kern Tec's products include plant-based milk, yogurt, ice cream, cheese, and confectionery items.

Podcasts and Interviews

There is currently no available information on specific podcasts or interviews involving the Kern Tec team. However, their innovative approach to sustainable food production has garnered significant attention in the media and industry reports.

Conference and Fair Visits

Details about Kern Tec's participation in conferences or fairs are not readily available. However, their involvement in the foodtech sector suggests they may participate in relevant industry events focused on sustainable food systems and upcycling technologies.

Events and Involvement

Kern Tec's recent funding and product launches indicate strong growth and engagement within the foodtech community. Their focus on sustainability and reducing waste aligns with broader industry trends and initiatives, potentially leading to future involvement in events highlighting circular economy practices in food production.

EIC Accelerator Funding

Kern Tec received funding from the European Innovation Council (EIC) as part of its Series A financing round. The company was recognized for its innovative approach to transforming food waste into valuable products, contributing to the circular economy in Europe.

Sources

• Kern Tec unlocks valuable stone fruit seed ingredients to formulate plant-based dairy and confectionery products
• Austrian foodtech Kern Tec cracks €12 million Series A to turn food waste into sustainable ingredients
• Austrian Kern Tec raises €12m in Series A financing
• Kern Tec: Fruit seed-based alt dairy to quadruple production capacity, double down on NPD
• Kern Tec Closes €12M Series A to Upcycle Stone Fruit Pits Into Sustainable Ingredients
• Kern Tec raise €12M in Series A and launch vegan cheese from rescued fruit pits
• start-ups news