1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC (European Innovation Council) Accelerator program is a flagship initiative within the Horizon Europe framework aimed at fostering innovation across Europe. It supports startups and small and medium-sized enterprises (SMEs) that are developing cutting-edge technologies, particularly in the DeepTech sector. The program provides funding in the form of grants and equity investments, helping companies transition from concept to commercialization.

Funding Structure

The EIC Accelerator offers a unique blended finance model that combines both grants and equity investments to support innovative projects.

Purpose of the EIC Accelerator

The EIC Accelerator plays a crucial role in the European DeepTech and startup ecosystem by bridging the funding gap that often exists for high-risk, high-reward innovations. The program aims to:

• Accelerate Growth: By providing financial support, the EIC Accelerator enables companies to expedite their development timelines and bring their products to market more quickly.
• Enhance Innovation: The program seeks to stimulate innovation by funding projects that can have a significant impact on society and the economy, particularly in areas such as health, energy, and digitalization.
• Foster Collaboration: It encourages collaboration between startups and established companies, research institutions, and investors, creating a robust innovation ecosystem.

Role in Scaling Companies

The EIC Accelerator not only provides financial backing but also offers coaching, mentoring, and networking opportunities. This holistic approach helps companies build a sustainable business model, connect with potential investors, and navigate the complexities of scaling operations. By leveraging its vast network, the EIC Accelerator enhances the chances of startups securing additional private sector funding.

Case Study: Alcyon Photonics SL and the SPHUN Project

Company Overview: Alcyon Photonics SL, a Spanish startup, was awarded funding through the EIC Accelerator for its innovative project titled SPHUN (Smart PHotonic devices Using Novel metamaterials). The company focuses on developing advanced photonic technologies that have the potential to revolutionize various sectors, including telecommunications, healthcare, and smart materials.

Project Summary: The SPHUN project aims to develop smart photonic devices utilizing novel metamaterials. These devices are designed to manipulate light at the nanoscale, enabling functionalities that traditional materials cannot achieve. The project received significant attention owing to its potential applications in creating more efficient optical components and enhancing data transmission capabilities.

Technology Background

The core technology behind the SPHUN project revolves around metamaterials, which are engineered materials designed to have properties not found in nature. These materials can manipulate electromagnetic waves, including visible light, in ways that traditional materials cannot. By leveraging the unique characteristics of metamaterials, Alcyon Photonics aims to create devices that can:

• Improve Light Manipulation: Enhance the performance of optical devices, enabling smaller, lighter, and more efficient components.
• Enable New Applications: Facilitate the development of innovative applications in telecommunications, sensing, and imaging technologies.

The development of smart photonic devices could lead to significant advancements in data processing and transmission, impacting industries reliant on high-speed communication and precise measurements. By receiving support from the EIC Accelerator, Alcyon Photonics is well positioned to advance its technology, scale its operations, and contribute to the European innovation landscape.

In conclusion, the EIC Accelerator serves as a vital catalyst for innovation, enabling startups like Alcyon Photonics to harness advanced technologies for transformative applications, thereby reinforcing Europe's position as a leader in the global technology ecosystem.

2 The Funding Rounds

# Alcyon Photonics SL: Funding Journey Since EIC Accelerator Grant

Alcyon Photonics, a Spanish company founded in 2018, designs high-performance photonic devices for integrated chips with applications in optical communications, biological sensing, and microsatellite spectrometry. The company has secured several funding rounds since receiving the European Innovation Council (EIC) Accelerator funding in March 2022.

Funding Timeline

Alcyon Photonics has progressed through several funding stages since its inception: Initial Funding (2018-2019)

• January 2018: Received initial support from CSIC (Higher Council for Scientific Research)
• July 2019: Secured a Seed round of approximately $563,300

EIC Accelerator Grant (2022)

March 2022: Awarded €1.8 million ($1.95 million) from the European Innovation Council Accelerator program

Recent Investment (2024-2025)

• December 2024/January 2025: Received a Seed round of $360,000 (approximately €330,000) from BeAble Capital and CDTI Innvierte
• January 2025: Additional funding of €1.5 million from BeAble Capital, EIC Fund, and CDTI Innvierte

Investor Information

Alcyon Photonics has attracted investment from several key players: Government & Public Investors:

• European Innovation Council (EIC): Provided the €1.8 million grant in 2022
• CDTI Innvierte: The innovation investment arm of Spain's Centre for the Development of Industrial Technology, participated in the 2024-2025 funding rounds
• EIC Fund: The equity investment instrument of the European Innovation Council, participated in the January 2025 funding round

Private Investors:

BeAble Capital: A Spanish venture capital firm focused on deep tech startups, participated in both the December 2024 and January 2025 funding rounds

Company Achievements and Status

Alcyon Photonics has received several recognitions that have likely contributed to its investment appeal: - CDTI-Neotec awarded company

• Innovative SME awarded
• High Innovation Intensity SME by Comunidad de Madrid with support from EU ERDF

The company has also established strategic partnerships, including a recently announced collaboration with Tower Semiconductor in March 2025. Through this partnership, Alcyon Photonics will provide customers with silicon-validated, high-performance photonic building blocks and other components.

Company Valuation and Exit Events

There is no publicly available information regarding Alcyon Photonics' current valuation. As a private company still in its growth phase, having progressed from initial seed funding to securing follow-on investment, Alcyon Photonics has not yet experienced any exit events such as an IPO or acquisition.

The company appears to be in a growth phase, focusing on expanding its technology and market reach through strategic partnerships and continued product development. With the recent funding secured in early 2025, Alcyon Photonics is likely using this capital to scale operations and further develop its integrated photonics technology portfolio.

EU Engagement

Beyond securing funding, Alcyon Photonics has been active in EU policy engagement. The company registered in the EU Transparency Register in January 2022 and reported €10,000 in lobbying costs for the 2020 financial year. Their lobbying efforts focus on EU policies related to the semiconductor industry, with a particular emphasis on photonics and the EU Chip Act.

Sources: - Alcyon Photonics company information, funding & investors

• Alcyon Photonics SL - LobbyFacts
• Alcyon Photonics company information, funding & investors
• Alcyon Photonics: Home
• Alcyon Photonics – Funding, Valuation, Investors, News - Parsers VC
• Tower Semiconductor and Alcyon Photonics Announce Collaboration
• Alcyon Photonics company information, funding & investors | Austin

3 The Press Releases

Overview of Alcyon Photonics Since EIC Accelerator Funding

Alcyon Photonics, a Spanish company specializing in integrated photonics design, received EIC Accelerator funding in March 2022. Since then, the company has been actively involved in advancing the field of integrated photonics through strategic partnerships, technological innovations, and collaborative projects.

Partnerships and Collaborations

• Tower Semiconductor Partnership: Alcyon Photonics has collaborated with Tower Semiconductor to accelerate integrated photonics innovation. This partnership leverages Tower's high-volume Silicon Photonics (SiPho) platform to provide silicon-validated, high-performance photonic building blocks and circuits. The collaboration focuses on developing robust photonic IP for datacom, telecom, and sensing markets, with a focus on CWDM solutions for data center networking and advancements in coherent communications across C+L bands.
• PICadvanced Collaboration: Alcyon Photonics also signed a collaboration agreement with PICadvanced to advance integrated photonics solutions. This partnership combines Alcyon's design expertise with PICadvanced's system integration capabilities.
• Luceda Photonics Partnership: Alcyon Photonics partnered with Luceda Photonics as an IP partner to enhance high-performance photonic design capabilities.
• Applied Nanotools Partnership: Alcyon Photonics collaborated with Applied Nanotools to launch an innovative Process Design Kit (PDK) for photonics and semiconductor integration. This PDK simplifies the design-to-fabrication process for integrated photonic circuits.

Technology Advancements

• Subwavelength Grating Technology: Alcyon Photonics utilizes subwavelength gratings as innovative meta-materials for designing high-performance photonic devices with low losses and broad bandwidths.
• Alcyon Toolkit: The company offers a toolkit that accelerates the adoption of integrated photonics by providing validated designs and an intuitive design-to-fabrication process.

Team Updates and Funding

While there are no specific team updates mentioned since the EIC Accelerator funding, the company's recognition as one of the top innovative companies in Spain highlights its growing influence in the photonics sector.

Press Releases and Blog Posts

Alcyon Photonics regularly updates its newsroom with announcements about collaborations, technology advancements, and participation in industry events like the Optica Photonic Enabled Cloud Computing Summit.

Sources

• Newsroom - Alcyon Photonics
• Luceda Photonics Welcomes Alcyon Photonics as an IP Partner
• Tower Semiconductor and Alcyon Photonics Announce Collaboration
• Alcyon Photonics – Enabling integrated photonics circuits design
• Tower teams up with Alcyon Photonics to accelerate PIC innovation
• Tower Semiconductor and Alcyon Photonics Announce Collaboration
• ALCYON PHOTONICS - INSTITUTO DE OPTICA. CSIC
• Alcyon Photonics and Applied Nanotools unite forces to launch an innovative PDK for photonics and semiconductor integration
• Tower Semiconductor and Alcyon Photonics to accelerate integrated photonic innovation

4 The Technology Advancements

Alcyon Photonics SL: Post-EIC Accelerator Funding Advancements

Since receiving EIC Accelerator funding in March 2022, Alcyon Photonics has significantly expanded its technological capabilities and market presence. The Madrid-based company specializes in integrated photonics design, focusing on high-performance components for telecommunications, datacom, and sensing applications. Below are key advancements post-funding:

Core Technological Developments

• IP Portfolio Expansion: Alcyon’s Photonics IP Cores (PIP cores©) now include passive and active components optimized for silicon photonics platforms. Their library for ANT NanoSOI offers 11 validated designs, including polarization splitters, broadband directional couplers, and mode multiplexers.
• Proprietary Design Techniques: Enhanced stability in photonic circuits to maintain channel drifts below 3 nm despite fabrication variations of up to 30 nm.
• Reconfigurable PICs: Configurable circuits to compensate for manufacturing deviations and optimize spectral responses post-deployment.

Strategic Collaborations

• Applied Nanotools Partnership (2024): Co-developed a process design kit (PDK) with ANT NanoSOI to streamline integrated photonic device fabrication. The collaboration includes a validated component library supporting rapid prototyping.
• Tower Semiconductor Alliance (March 2025): Silicon-proven photonic building blocks leveraging Tower’s SiPho platform. Focus areas include O-band CWDM solutions for data centers and coherent communications across C+L bands.

Market Demonstrations & Commercialization

• OFC Conference Participation (April 2025): Showcased CWDM solutions and coherent communication advancements at OFC 2025 alongside Tower Semiconductor.
• High-Yield Manufacturing: Partnered with Tower to provide customers with consistent production outcomes suitable for datacom/telecom markets.

Intellectual Property & Publications

While no new patents are explicitly cited in recent updates, Alcyon’s IP Library employs trade secret protocols alongside patented designs pre-dating the EIC funding period. Publicly shared whitepapers include technical details of their collaboration with Tower Semiconductor, though peer-reviewed studies or clinical trials remain unmentioned due to their focus on industrial rather than medical applications.

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Sources Used:

• Product & Services - Alcyon Photonics
• Tower Semiconductor Collaboration Announcement
• New Electronics Coverage
• Applied Nanotools Collaboration

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5 The Partnerships and Customers

Alcyon Photonics SL: Recent Partnerships and Developments

Alcyon Photonics SL, a Spanish company specializing in integrated photonic circuit designs, has been actively involved in strategic partnerships since receiving the EIC Accelerator funding in March 2022. These collaborations have been pivotal in advancing their technological capabilities and market presence.

Partnerships:

• Tower Semiconductor: Alcyon Photonics has partnered with Tower Semiconductor, a leading analog semiconductor foundry, to accelerate integrated photonics innovation. This partnership leverages Tower’s advanced SiPho platform to provide silicon-validated, high-performance photonic building blocks and circuits. The collaboration focuses on advancing applications in datacom, telecom, and sensing markets by offering robust photonic IP solutions. It is particularly aimed at enhancing CWDM solutions for data center networking and coherent communications across the C+L bands, thereby expanding bandwidth and future-proofing optical networks.
• Luceda Photonics: Alcyon Photonics has also partnered with Luceda Photonics, a provider of PIC design software and services. This collaboration integrates Alcyon’s advanced photonic building blocks into the Luceda Photonics Design Platform, enhancing the capabilities of PIC designers. This partnership facilitates the creation of innovative photonic solutions with greater ease and confidence, particularly in telecom, quantum, and lidar applications.

New Relationships and Purpose:

The partnerships with Tower Semiconductor and Luceda Photonics are designed to accelerate the adoption of integrated photonics by providing high-performance, validated photonic components. These collaborations position Alcyon Photonics as a leader in delivering robust and efficient integrated photonic circuit designs, facilitating faster and more predictable development cycles for their customers.

Market Positioning:

These partnerships significantly enhance Alcyon Photonics' market position by offering comprehensive solutions for next-generation optical applications. The company's ability to provide silicon-validated photonic IP through major partnerships strengthens its competitive edge in the silicon photonics sector.

Technology Advancements and Scaling:

The collaborations with Tower Semiconductor and Luceda Photonics contribute to technology advancements by leveraging advanced design techniques and manufacturing capabilities. This helps Alcyon Photonics scale its operations efficiently, ensuring consistent, high-yield results for photonic integration. By integrating their IP into leading design platforms, Alcyon Photonics empowers a broader range of customers to innovate with confidence.

Conclusion

Since receiving the EIC Accelerator funding in March 2022, Alcyon Photonics has reinforced its position in the integrated photonics industry through strategic partnerships. These collaborations not only enhance the company's technological offerings but also provide a solid foundation for future growth and innovation in the sector.

Sources:

• [Tower Semiconductor and Alcyon Photonics Announce Collaboration](https://ir.towersemi.com/news-releases/news-release-details/tower-semiconductor-and-alcyon-photonics-announce-collaboration" class="inline-link" target="_blank" rel="noopener noreferrer">Alcyon's OFC Participation Announcement
• Alcyon Photonics PDK launch for Applied Nanotools
• Tower Semiconductor and Alcyon Photonics Announce Collaboration
• Alcyon Photonics
• Luceda Photonics Welcomes Alcyon Photonics as an IP Partner
• Tower teams up with Alcyon Photonics to accelerate PIC innovation
• Launch of an Alcyon Photonics Design Kit for Applied Nanotools
• Tower Semiconductor and Alcyon Photonics Announce Collaboration to Accelerate Integrated Photonics Innovation
• Tower Semiconductor and Alcyon Photonics Announce Collaboration to Accelerate Integrated Photonics Innovation

6 The Hiring and Company Growth

Alcyon Photonics: Growth and Development Since EIC Accelerator Funding

Alcyon Photonics, based in Spain, received the EIC Accelerator funding on March 23, 2022. This funding marked a significant milestone in the company's journey to accelerate the adoption of integrated photonics.

Hiring and Team Growth

As of recent data, Alcyon Photonics has a team of experienced professionals, including Jimena Garcia-Romeu as CEO, Dominik G. Rabus as COO, and María Rodríguez as CFO, among others. The company is focused on expanding its team, as evidenced by job postings like a Senior Product Manager position aimed at defining the roadmap and leading projects in integrated photonic circuits.

Current Team Size

Although the exact current headcount is not publicly disclosed, the company's team includes a variety of roles such as Photonics Design Lead, Product Lead, III-V Lead, and several Photonics Engineers, indicating a team of at least a dozen professionals.

Current Hiring

Alcyon Photonics is actively hiring, with positions like Senior Product Manager being advertised to support its growth in integrated photonic circuits.

Growth

Since receiving the EIC Accelerator funding in March 2022, Alcyon Photonics has continued to grow and expand its IP portfolio. This growth is supported by recognition from national and international projects, including awards such as the EIC Accelerator and Eurostars.

Key Positions and Future Impact

Recent hires and team expansions are critical for Alcyon Photonics as they help scale the company's capabilities in integrated photonics. New team members, like the Senior Product Manager, will play a crucial role in defining product roadmaps and managing customer relationships, which are essential for expanding into new markets and industries.

Changes in Management or Founding Team

There are no reported major changes in the management or founding team of Alcyon Photonics since the funding. The leadership remains consistent with key roles such as CEO, COO, and CFO filled by experienced professionals.

Conclusion

Alcyon Photonics has been steadily growing and expanding its capabilities in integrated photonics since receiving the EIC Accelerator funding. With ongoing hiring and strategic team growth, the company is well-positioned to continue innovating and scaling its operations in the photonics industry.

Sources

• Alcyon Photonics: Home
• About us - Alcyon Photonics
• Open position: SENIOR PRODUCT MANAGER - Alcyon Photonics

7 The Media Features and Publications

Alcyon Photonics SL: Media Coverage and Industry Engagement Post-EIC Accelerator Funding Since securing EIC Accelerator funding in March 2022, Alcyon Photonics SL has expanded its visibility through strategic partnerships, media features, and active participation in global photonics events. Below is a detailed overview of their public engagements and recognitions:

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Media Features & Publications

• Top 101 Most Innovative Companies: Recognized by Enisa and Foro ADR as one of Spain’s most impactful innovators for advancements in photonic integrated circuit design.
• Collaboration Announcements: Featured by Nasdaq for its partnership with Tower Semiconductor to accelerate silicon-photonics innovation, emphasizing validated IP for datacom, telecom, and sensing applications.

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Podcasts & Interviews

• YouTube Presentation: CEO Jimena García-Romeu discussed hybrid photonic integration strategies at industry events (October 2024), highlighting Alcyon’s role in advancing multi-platform photonic solutions.
• Optica Ambassadorship: While not directly an interview, García-Romeu’s participation as a speaker at Optica’s Global Photonics Economic Forum (October 2024) underscores thought leadership.

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Conference Participation & Presentations

• OFC Conference 2025: Showcased CWDM and coherent communication solutions alongside Tower Semiconductor (April 1–3, 2025), with booth exhibitions (#5080) and technical demonstrations.
• Optica PECC Summit 2024: Attended the Photonic Enabled Cloud Computing event (October 22–23, 2024) to explore optical networking innovations.

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Whitepapers & Technical Resources

Alcyon publishes accessible whitepapers on advanced photonics topics:

• Subwavelength Grating Technology: Explores compact waveguide designs.
• IP Libraries: Validated components for Tower Semiconductor’s SiPho platform and Applied Nanotools’ NanoSOI™ foundry service.

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Strategic Collaborations & Events Hosted/Co-Hosted by Alcyon Photonics SL or Its Partners

The company collaborates closely with industry leaders to drive integrated photonics adoption: 1. Tower Semiconductor Partnership: Jointly developed silicon-photonics IP for high-yield manufacturing processes.

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Sources Used:

• Newsroom - Alcyon Photonics
• Nasdaq Collaboration Announcement
• Applied Nanotools PDK Launch

+ More sources from initial data pool omitted here due to redundancy or indirect relevance; full list available upon request.