1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support innovative small and medium-sized enterprises (SMEs) and startups in Europe, particularly those operating in the DeepTech sector. Focused on technological advancements and disruptive innovations, the EIC Accelerator aims to bridge the gap between idea development and market entry. It provides a unique combination of grant funding and equity investment to assist companies in scaling their operations, enhancing their market competitiveness, and attracting additional private sector funding.

Funding Structure

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

Purpose and Impact

The EIC Accelerator plays a vital role in the European DeepTech and startup ecosystem. It addresses the funding challenges that innovative companies often face, particularly in high-risk sectors where traditional financing sources may be limited. By providing both grants and equity funding, the program fosters an environment conducive to innovation, enabling startups to transform their groundbreaking ideas into viable products and services.

Additionally, the EIC Accelerator facilitates connections between innovative companies and private investors. By demonstrating a commitment to scaling and innovation, supported firms can attract further investments, thereby enhancing their sustainability and growth potential.

Case Study: hyperTunnel Limited and hyperSwarm

Company Overview: hyperTunnel Limited, based in the United Kingdom, has emerged as a notable winner of the EIC Accelerator program with its project titled “hyperSwarm.” This initiative, submitted on March 23, 2022, during the Step 2 proposal phase, later secured success in the Step 3 interview, leading to funding approval.

Project Description: The hyperSwarm project aims to revolutionize tunnelling through swarm construction technology. It focuses on delivering disruptive advancements that significantly improve the efficiency, safety, and cost-effectiveness of tunnelling operations. The innovative approach centers around the use of autonomous, collaborative machines working together in swarms to execute tunnelling tasks.

Technology Basics and Background

The technological framework behind hyperSwarm is rooted in swarm robotics and advanced engineering practices. Swarm robotics involves the coordination of multiple robots that operate collectively to achieve a common goal. This approach draws inspiration from biological systems, such as the behavior of ant colonies or flocks of birds, where individual agents follow simple rules yet contribute to complex group behavior.

In the context of tunnelling, hyperSwarm utilizes a fleet of autonomous machines that can communicate and coordinate with each other in real-time. This allows them to perform tasks such as excavation, monitoring, and structural reinforcement more efficiently than traditional tunnelling methods, which often rely on large, cumbersome machinery operated by human crews.

The hyperSwarm project promises several key advantages:

hyperTunnel Limited’s hyperSwarm project exemplifies the transformative potential of the EIC Accelerator program, showcasing how innovative technologies can not only disrupt traditional industries but also provide sustainable solutions to complex engineering challenges. By securing grant funding, hyperTunnel is positioned to advance its technology and make significant strides in the tunnelling sector, ultimately contributing to the broader goals of innovation and sustainability in Europe.

2 The Funding Rounds

# hyperTunnel Limited: EIC Accelerator Funding and Financial Journey

hyperTunnel Limited is a UK-based company that received EIC Accelerator funding after submitting their Step 2 proposal on March 23, 2022, and subsequently winning in the Step 3 interview. This detailed analysis examines the company's funding history, investment rounds, and financial status since receiving this important European support.

Company Overview

hyperTunnel Limited was incorporated on September 28, 2018, and is based in Milton Keynes, Buckinghamshire, United Kingdom. The company operated as a micro-sized enterprise with a turnover under £632,000. As of April 2023, hyperTunnel employed 40 people, which represented a 38% increase from the previous year.

Unfortunately, recent records indicate that hyperTunnel Limited entered administration on July 30, 2024, approximately six months ago. Before entering administration, the company had experienced significant financial challenges, with its latest financial records showing negative net assets of -£9.61 million, which had worsened by £3.71 million (63%) compared to the previous period.

Funding History

EIC Accelerator Funding

hyperTunnel received EIC Accelerator funding following their successful application in March 2022. This prestigious European funding initiative supports innovative startups and SMEs with breakthrough technologies and international growth potential.

Additional Funding Rounds

hyperTunnel's funding journey has included several rounds:

• Incubator/Accelerator Funding: On January 21, 2021, the company participated in an incubator/accelerator program.
• Corporate Minority Investment: On June 14, 2022, hyperTunnel secured corporate minority investment, indicating strategic interest from established companies.
• Innovate UK Grant: In November 2022, the company received £1.6 million from Innovate UK.
• Unattributed Funding: An unspecified amount was raised on January 1, 2023.
• Seed Funding: On April 13, 2023, hyperTunnel raised $120,000 in seed funding.
• Grant II: The company secured additional grant funding on January 18, 2024.

According to some sources, hyperTunnel has raised a total of approximately $1.32 million across six funding rounds, though the exact amounts of several rounds remain undisclosed.

Investor Information

hyperTunnel's investors have included:

• Techstars: A prominent startup accelerator that has invested in the company.
• Innovate UK: Provided significant grant funding of £1.6 million in November 2022.
• Corporate Investors: The company attracted corporate minority investment, though specific corporate partners are not clearly identified in the available data.

Financial Status and Valuation

The most recent financial data before administration shows:

• Cash in Bank: £659,000 as of April 2023, which represented a significant decrease of £904,200 (-58%) from the previous period.
• Total Assets: £1.71 million, down by £786,230 (-32%).
• Total Liabilities: -£11.32 million, increased by £2.92 million (+35%).
• Debt Ratio: 663%, which had increased by 326.19% (+97%).

These figures indicate severe financial distress in the period leading up to the company entering administration.

Corporate Structure

hyperTunnel Limited appears to be part of a larger corporate structure that includes hyperTunnel Holdings Limited. Both entities share management personnel, including Stephen Grant Jordan, who is listed as a mutual person between the companies. hyperTunnel Holdings Limited is also now in administration.

Current Status

As of April 30, 2025, hyperTunnel Limited remains in administration, a status it entered approximately nine months ago on July 30, 2024. The registered address of the company was changed on July 31, 2024, shortly after entering administration.

Despite receiving significant funding, including the EIC Accelerator grant and Innovate UK funding, the company was unable to achieve financial sustainability, ultimately leading to its current administration status.

Sources: - https://app.dealroom.co/companies/hypertunnel_1

• https://www.cbinsights.com/company/hypertunnel/financials
• https://aventure.vc/companies/hypertunnel-jersey-city-nj-us
• https://open.endole.co.uk/insight/company/11594694-hypertunnel-limited
• https://find-and-update.company-information.service.gov.uk/company/12991124/filing-history

3 The Press Releases

hyperTunnel's Post-EIC Accelerator Trajectory (2022–2024) Following its 2022 EIC Accelerator win (€1.88M) and VINCI partnership, hyperTunnel aggressively advanced its swarm robotics tunneling technology while navigating financial headwinds culminating in July 2024 administration proceedings.

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Technology Advancements

• hyperDeploy & hyperCast: Launched multi-phase automation, using robots in HDPE pipes to 3D-print tunnels via digital twins. The hyperCast system aimed to replace geology with structural linings by 2025.
• Network Rail Demonstration: Built a 6m pedestrian tunnel for Network Rail in 2022 using low-carbon materials, showcased at the British Tunnelling Society Conference.
• AI-Driven Swarm Robotics: Deployed "hyperBots" for simultaneous ground stabilization and additive manufacturing, claiming 10x speed improvements over conventional methods.

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Strategic Partnerships

• AmcoGiffen Agreement (Oct 2023): Signed exclusive UK rail sector deal to implement robotics for tunnel repair and slope stabilization.
• VINCI Collaboration: Joined VINCI’s Leonard accelerator program, securing funding for field testing and global market expansion.

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Financial & Operational Challenges

• Administration Status: Entered administration on July 23, 2024 due to unsustainable debts. Joint administrators are actively seeking buyers.
• Funding Utilization: EIC and VINCI funds supported R&D toward Technical Readiness Level 8 by early 2024 but failed to ensure liquidity amid scaling costs.

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Patents & Intellectual Property

The company developed patented methods integrating:

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Sources

Replaced by authoritative source: • hyperT tunnelling reimagined - tunnelbuilder.com News

(Note: While specific patent documents weren’t directly cited in available sources, all press materials consistently reference IP-protected methodologies as core assets.)

4 The Technology Advancements

hyperTunnel Limited: Post-EIC Accelerator Funding Developments (2022–2024)

Following its €1.88 million EIC Accelerator funding in 2022, hyperTunnel Limited advanced its automated underground construction technology through technical milestones, partnerships, and real-world demonstrations. However, the company entered administration in July 2024 amid financial difficulties. Below are key advancements from March 2022 onward:

Technology Advancements

• hyperBot Fleet: Deployed swarm robots ("hyperBots") that navigate via HDPE pipes to 3D-print tunnel linings using low-carbon materials.
• Digital Twin Integration: AI-driven digital twins monitored real-time construction processes and synchronized robotic workflows.
• HyperCast Technology: A structural lining system slated for 2025 release to replace existing geology with precision-engineered materials.

• Achieved Technology Readiness Level (TRL) 8 by early 2024 after accelerated life testing of robots like the "hyperRam," validating durability in operational conditions.
• Conducted large-scale trials for a Network Rail pedestrian tunnel (6m long) using additive manufacturing techniques.

Market Demonstrations

• AmcoGiffen Partnership (Oct 2023): Signed an exclusive agreement to apply hyperTunnel’s systems for UK rail infrastructure repairs, including slope stabilization and water management.
• GCRE Underpass Project (Mar 2023): Awarded £25k to develop a low-disruption underpass using swarm robotics at the Global Centre of Rail Excellence in Wales. Proposed Phase II aimed for a functional demo under live rail tracks by 2024.

Funding and Collaborations

• VINCI Investment (June 2022): Strategic backing from VINCI’s Leonard unit to scale deployment alongside sustainability goals like reduced carbon emissions.
• CATALYST Programme Membership: Joined VINCI’s innovation accelerator to refine technologies for global infrastructure projects.

Intellectual Property and Publications

While no new patents or whitepapers are explicitly cited post-2022, hyperTunnel emphasized proprietary methodologies such as:

• AI-driven site modeling via digital twins.
• Asynchronous spatial messaging tools (HyperNote) for remote expert collaboration hypertunnel.com.

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Sources

5 The Partnerships and Customers

hyperTunnel Limited: Partnerships and Developments

hyperTunnel Limited, a UK-based company, gained significant attention for its innovative tunneling technology after receiving funding from the European Innovation Council (EIC) Accelerator in March 2022. Since then, the company has been involved in several partnerships and developments.

Partnerships and Customers

New Partnerships and Customers

As of the latest information, there are no specific mentions of new partnerships or customers for hyperTunnel Limited. However, the company's innovative approach to tunnel construction using swarm robotics and 3D printing has positioned it as a leader in disruptive technologies within the industry.

Nature of Relationships and Purpose

The partnerships, such as the one with AmcoGiffen, aim to integrate hyperTunnel's technology into practical applications, enhancing the efficiency and cost-effectiveness of tunnel construction and maintenance in the UK rail sector. The purpose of these relationships is to pioneer robotics and automation in maintaining underground structures, reflecting a long-term ambition to lead innovation in the UK rail sector.

Market Positioning

These relationships position hyperTunnel Limited as a pioneer in innovative tunneling technologies, capitalizing on its scalable and environmentally friendly methods. The integration of AI, machine learning, and swarm robotics allows for faster and more cost-effective tunnel construction, which is attractive to contractors and consultants in the tunneling industry.

Technology Advancements and Scaling

The partnerships, especially with contractors like AmcoGiffen, help hyperTunnel Limited in scaling its technology by implementing it in real-world projects. This not only provides practical testing grounds but also accelerates the adoption of its innovative methods across the industry. The funding from entities like VINCI and the EIC further supports the technological advancements by providing necessary resources for development and expansion.

However, hyperTunnel Limited recently entered administration due to significant financial difficulties, which may impact its future partnerships and advancements.

Sources

• Swarm construction company hyperTunnel enters administration under significant debt pile
• AmcoGiffen signs partnership deal with tunnelling start-up hyperTunnel
• UK startup hyperTunnel enters administration after suffering with debt
• hyperTunnel – tunnelling reimagined
• Tunnelling technology disruptor hyperTunnel enters administration

6 The Hiring and Company Growth

hyperTunnel Limited: Company Overview and Growth

Introduction

hyperTunnel Limited, based in the United Kingdom, is a notable company that received funding from the EIC Accelerator in March 2022. Since then, the company has faced significant financial challenges.

Current Status

As of the latest available information, hyperTunnel Limited is in administration. This status indicates that the company is undergoing a form of insolvency proceedings, aiming to manage its debt and potentially restructure its operations.

Team Size and Growth

The company had approximately 40 employees as of its last reported period ending in April 2023. This represents a significant increase of 11 employees, marking a 38% growth from the previous period. However, the current headcount may have changed due to the company's financial situation.

Hiring Status

There is no current indication that hyperTunnel Limited is actively hiring. The company's financial struggles and administration status likely limit any expansion plans.

Key Positions and Recent Hires

Information on specific recent hires or key positions is not available. However, Stephen Grant Jordan is noted as a mutual person across various related companies, suggesting potential involvement in the management or founding team.

Impact of New Team Members and Future Growth

While new team members could have contributed to the company's growth, the current financial state and administration status suggest that hyperTunnel Limited is focusing on restructuring rather than expanding. The addition of new members would typically help scale and grow a company, but this is not feasible under the current circumstances.

Management Changes

There are no reported changes in the management or founding team directly related to the EIC Accelerator funding. The company's administration status, however, indicates significant operational adjustments.

Financial Growth

hyperTunnel Limited faced significant financial challenges, with total liabilities increasing substantially and net assets in deficit. The company's financial reports show a decrease in turnover and a significant increase in liabilities, indicating a challenging period since receiving the EIC funding.

Future Outlook

The future of hyperTunnel Limited will likely depend on how it navigates its current financial situation. The administration process may allow the company to reorganize and potentially emerge stronger, but this is contingent on resolving its debt issues.

Sources

• Hypertunnel Limited - Company Profile
• Hypertunnel Holdings Limited - Company Profile
• Swarm construction company hyperTunnel enters administration
• HYPERTUNNEL LIMITED overview

7 The Media Features and Publications

Overview of hyperTunnel Limited

hyperTunnel Limited, based in the United Kingdom, is a pioneering technology company that has been revolutionizing the tunnelling industry with its innovative use of robotics, AI, and digital technologies. The company received funding of 1.88 million Euros from the European Innovation Council (EIC) Accelerator scheme in March 2022, which contributed significantly to its development and growth.

Media Features and Publications

hyperTunnel has been featured in several prominent publications and media outlets: - The Tunnelling Journal has covered the company's efforts to innovate underground construction methods and its financial challenges, including entering administration in July 2024.

• Railway Magazine highlighted hyperTunnel's achievement in building the world's first underground structure entirely by robots, showcasing the company's technological advancements.
• Financial News reported on hyperTunnel entering administration, emphasizing its innovative approach to tunnelling despite financial difficulties.

Content from Publications

Publications have focused on hyperTunnel's use of cutting-edge technologies like robotics, AI, and digital twins to make tunnelling faster, safer, and more cost-effective. The company has been successful in winning UK government funding for its innovative underpass construction techniques and has collaborated with major companies like VINCI.

Podcasts and Interviews

Patrick Lane-Nott, hyperTunnel's Director of Engineering, was featured in the Breaking Ground Podcast. He discussed the company's aim to revolutionize underground construction using AI, machine learning, and swarm robotics.

Conference and Fair Participations

hyperTunnel participated in the British Tunnelling Society Conference and Exhibition in 2022, where Jeremy Hammond discussed the company's technological advancements and their applications in the industry. hyperTunnel also emerged from stealth mode at the BTS in 2021, marking a significant entry into the industry.

Event Involvement

hyperTunnel has been involved in several events, including securing UK government funding to showcase its swarm construction technique at the Global Centre of Rail Excellence. This project involves building a 20-meter pedestrian underpass using AI and robot swarms, highlighting the company's commitment to reducing costs and environmental impact.

Sources

• The Tunnelling Journal - Administrator seeks buyer for hyperTunnel
• Railway Magazine - hyperTunnel reveals the world's first underground structure built entirely by robots
• Financial News - British Tunnelling Innovator HyperTunnel Enters Administration
• Tunnelling Journal - hyperTunnel Archives
• Business Age - Q&A with hyperTunnel, rival to Elon Musk's Boring Company
• British Geotechnical Association - Breaking Ground Podcast – Patrick Lane-Nott, hyperTunnel Limited
• Tunnelling Journal - New speakers announced for BTS Conference and Exhibition 2022
• Rail Technology Magazine - HyperTunnel Wins Government Backing for Revolutionary Underpass Tech