1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support small and medium-sized enterprises (SMEs) and startups in the European Union that are developing innovative technologies and solutions. This program provides a unique funding mechanism known as blended finance, which combines both grants and equity investments to help innovative companies scale up and bring their products to market.

Funding Structure

The EIC Accelerator offers substantial funding options to eligible companies, encompassing:

Purpose within the Ecosystem

The EIC Accelerator plays a critical role in the European DeepTech and startup ecosystem. It aims to foster innovation and enhance competitiveness within Europe by:

• Providing financial support to groundbreaking technologies that may otherwise struggle to find investment due to their high-risk nature.
• Encouraging private sector investment by de-risking projects, thereby attracting venture capital and other funding sources.
• Supporting startups in navigating the complexities of scaling operations, including market entry and regulatory challenges.

Role in Scaling and Funding

The EIC Accelerator facilitates access to private funding by validating the technological viability and market potential of supported projects. By providing initial funding and support, the program helps companies build a solid case for additional investment from private investors. This dual approach not only strengthens the financial foundation of startups but also enhances their credibility in the eyes of potential partners and investors.

Case Study: Axiles Bionics and the Solaris Project

Company Overview: Axiles Bionics, based in Belgium, is focused on developing cutting-edge bionic solutions that enhance mobility and improve the quality of life for individuals with disabilities. The company leverages advanced robotics and artificial intelligence to create products that respond to user needs and environmental challenges.

Project Overview: The Solaris Project, supported by the EIC Accelerator, aims to develop an innovative exoskeleton designed to assist individuals with mobility impairments. The project was submitted under the EIC Accelerator Step 2 proposal on October 5, 2022, and the company advanced to the Step 3 interview phase, ultimately securing funding.

Technology Background

The Solaris Project seeks to create a next-generation bionic exoskeleton that integrates advanced robotics with user-centric design principles. The technology is grounded in several key areas:

Conclusion

The EIC Accelerator program provides a vital lifeline for innovative startups like Axiles Bionics, enabling them to secure the funding necessary to bring transformative technologies to market. The Solaris Project exemplifies the potential of blended finance in fostering innovation, as it combines grants and equity investments to support groundbreaking advancements in assistive technologies. As a result, the EIC Accelerator not only enhances the capabilities of individual companies but also contributes to the broader European landscape of innovation and technology development.

2 The Funding Rounds

Financing Raised and Funding Rounds

Axiles Bionics, headquartered in Brussels, Belgium, has raised a total of approximately $3.23 million since its founding in 2019. The company’s financing history includes both equity rounds and significant grant funding from European innovation programs.

EIC Accelerator Funding (October 2022)

• Type: Blended finance (mix of grant and potential equity)
• Timing: Submitted successful Step 2 proposal for the October 5, 2022 cut-off; public award decision announced in December 2022.
• Amount: €2.5 million non-dilutive grant awarded by the European Innovation Council (EIC) Accelerator to support development activities under their "Solaris Project".
• This round is part of a broader EIC Accelerator scheme that may also include additional direct equity investments by the EIC Fund, but as of early 2023 only the €2.5M grant component has been confirmed publicly.

Series A Equity Round

• Timing: Exact date not explicitly stated in public sources; referenced as completed prior to or alongside major EU funding announcements.
• Amount: €2.4 million
• Purpose: Funds allocated for advancing prosthetic technology development—including artificial intelligence enhancements—for lower limb amputees.

Additional Seed/Grant Funding

Axiles Bionics’ initial rounds included support from:

• Innoviris (regional Brussels innovation agency)
• Vrije Universiteit Brussel
• King Baudouin Foundation

These supported early-stage research, product prototyping, and company formation prior to securing larger amounts through EIC grants and their Series A round.

Investors

Key institutional investors and supporters include: - EIC Accelerator/EIC Fund

• Innoviris
• Vrije Universiteit Brussel
• King Baudouin Foundation

No venture capital firms or large private equity backers have been publicly disclosed as major shareholders.

Company Valuations

There are no official figures published regarding Axiles Bionics’ post-money valuation following these funding rounds. However, given typical benchmarks for medtech startups at this stage—especially those with substantial non-dilutive EU backing—valuations following a €2–3M raise often range from €8–15M pre-money depending on traction and intellectual property portfolio.

Exit Events (IPO / Buyouts / Acquisitions)

As of May 1st, 2025:

No exit events such as an IPO or acquisition have been reported for Axiles Bionics. The company remains privately held with continued focus on product development and market expansion within Europe.

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Sources

EIC Accelerator - October 5 Cut-Off Award List Axiles Bionics receives €2.5m from European Commission CB Insights – Axiles Bionics Company Profile & Investors The Prosthetic Foot Worth Millions – Le Soir via Axiles Bionics

3 The Press Releases

Axiles Bionics: Recent Developments and Achievements

Axiles Bionics is a Belgian company specializing in the development of innovative robotic ankle-foot prosthetics. Founded in 2019 as a spin-off from the Vrije Universiteit Brussel, it has been making significant strides in enhancing the quality of life for amputees with its cutting-edge bionic technology.

Technology and Mission

Axiles Bionics' primary product is a bionic foot prosthesis designed to replicate the functionality of a human ankle, offering increased comfort and a natural range of motion. This technology combines advanced robotics, artificial intelligence, and human biomechanics to assist amputees in achieving a more natural gait and posture during daily activities. The company aims to make next-generation bionic products accessible to everyone, focusing on improving mobility, health, and well-being.

Funding and Awards

In 2022, Axiles Bionics was selected by the European Innovation Council (EIC) Accelerator for funding, marking a significant milestone in its growth trajectory. This funding supports the company's continued development of innovative bionic solutions. Additionally, Axiles Bionics won the European Technology Award 2022 in the robotics category, highlighting its technological prowess and innovation in the field.

Future Plans

Looking ahead, Axiles Bionics plans to expand its product line by developing bionic knees and exoskeletons, further solidifying its position as a leader in bionic technology.

Partnerships and Investors

Axiles Bionics has received support from notable investors including the EIC Accelerator, Innoviris, Vrije Universiteit Brussel, and the King Baudouin Foundation. These partnerships underscore the company's potential and commitment to advancing bionic technologies.

Press Releases and Updates

While specific press releases from Axiles Bionics' website are not detailed, the company's achievements and funding announcements are significant indicators of its progress and recognition in the industry. However, there is no direct information available about specific press releases or updates on their website or social media accounts.

Sources

• EIC: €2.5 million from the European Commission | Axiles Bionics
• Axiles Bionics, European Technology Award 2022 in the Robotics Category
• AXILES BIONICS - VUB TechTransfer
• Axiles Bionics - CB Insights

4 The Technology Advancements

Axiles Bionics: Advancements and Developments Since EIC Accelerator Funding

Axiles Bionics, a Belgian company specializing in innovative prosthetic solutions, received €2.5 million from the European Commission's EIC Accelerator funding in October 2022. Since then, the company has continued to make significant advancements in prosthetic technology, leveraging the funding to enhance its products and expand its reach.

Current Capabilities

Axiles Bionics is known for designing and developing next-generation prosthetics that mimic the musculoskeletal functions of the ankle, incorporating AI to anticipate movements. Their innovative approach has been recognized as the "Formula 1 of prosthetics," significantly improving comfort and functionality for users. The company's flagship products include the Lunaris IO and Lunaris Essential, which utilize advanced composite components to reduce weight and enhance wearability.

Advancements and Technology Improvements

Since receiving the EIC funding, Axiles Bionics has focused on refining its prosthetic technologies. The Lunaris series, for instance, features bespoke composite components engineered by Solico, enhancing performance and aesthetics compared to traditional all-metallic designs. This collaboration has allowed Axiles Bionics to integrate AI sensor packages into compact designs, providing a more natural gait for users.

The company has also been showcased at prominent events like Expo 2025 Osaka, where it highlighted its innovative prosthetic feet in the Belgian Pavilion. This exposure underscores Axiles Bionics' commitment to improving mobility for amputees through cutting-edge technology.

Market Demonstrations and Clinical Trials

Axiles Bionics has established itself in several European markets, including Belgium, Luxembourg, Spain, and Germany, with plans for further international expansion. While detailed information on specific clinical trials is not provided, the company's participation in significant exhibitions and its commercial success indicate effective demonstration of its technology to customers and the broader medical community.

Patents, Scientific Studies, and Publications

There is no specific information available on new patents filed or scientific studies published by Axiles Bionics since the EIC funding. However, the company's focus on R&D and innovation suggests ongoing efforts in these areas. Axiles Bionics emphasizes its scientific publications and clinical studies on its website, indicating a commitment to advancing medical knowledge in prosthetics.

Conclusion

Axiles Bionics has demonstrated significant progress in prosthetic technology, leveraging EIC funding to enhance its products and expand its market presence. The company's innovative approach to prosthetics, combined with its participation in major events and collaborations with other tech firms, positions it as a leader in the field of bionic prosthetics.

Sources

• Axiles Bionics
• Expo 2025 Osaka: Axiles Bionics Showcased in the Belgian Pavilion
• Axiles Bionics Designs and Develops the Formula 1 of Prosthetics
• Expo 2025 Osaka: Belgian Pavilion Showcases Medical Innovation
• Visitor Journey - BelExpo
• Solico Composite Engineers Bring Comfort, Flexibility to New Axile Bionics Ankle Prosthetic

5 The Partnerships and Customers

Axiles Bionics: Strategic Partnerships and Market Positioning Post-EIC Accelerator Funding

Since securing EIC Accelerator funding in late 2022, Axiles Bionics has deepened collaborations with academic institutions, engineering partners, and industry stakeholders to advance its bionic prosthetics technology. Below are key partnerships and their strategic implications:

Collaborations Driving Innovation

• BruBotics Research Group (Vrije Universiteit Brussel): A €2 million R&D grant from Innoviris in 2023 formalized this partnership to develop next-generation lower-limb prostheses. The collaboration leverages BruBotics’ robotics expertise to enhance AI-driven responsiveness and biomechanical functionality in Axiles’ products.
• Solico Composite Engineering: Since 2022, Solico has optimized composite materials for Axiles’ Lunaris prosthetic foot, reducing weight while maintaining durability. Their two-year project focused on laminate design and finite element simulations to improve gait dynamics.

Market Expansion Initiatives

• MedTech Accelerator 2023 Participation: Axiles was recognized among emerging MedTech innovators at this Brussels-based program, connecting the company with healthcare investors and potential distribution partners.
• Expo 2025 Osaka (Belgian Pavilion): Axiles will showcase its Lunaris line at this global event, emphasizing its goal to penetrate Asian markets and establish international clinical partnerships.

Technology Advancements Through Partnerships

The BruBotics collaboration aims to integrate advanced robotics algorithms into Lunaris’ sensor suite for real-time terrain adaptation. Meanwhile, Solico’s composites enable smaller form factors (e.g., size 36 feet with embedded AI sensors), broadening accessibility for diverse user demographics. These relationships position Axiles as a leader in adaptive biomechanics, combining AI with lightweight materials—a competitive edge against conventional all-metal prosthetics.

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Sources

• Axiles Bionics Official Website
• Solico Collaboration Announcement
• VUB TechTransfer Partnership Update
• European Technology Award 2022 Recognition
• MedTech Accelerator 2023 Winners

6 The Hiring and Company Growth

Axiles Bionics: Team Growth and Strategic Expansion Post-EIC Funding

Since securing €2.5 million from the European Innovation Council (EIC) in early 2023, Axiles Bionics has demonstrated steady growth, evolving from its founding team of four to approximately 17 employees as of October 2024. While recent financial statements indicate a medium-sized company with 10.3 full-time equivalents (FTEs), discrepancies may reflect differences in reporting timelines or part-time roles versus total headcount.

Team Structure and Hiring Strategy

The company has expanded its engineering, sales, and marketing teams, focusing on R&D for next-generation prosthetics like the Lunaris product line. Though current hiring initiatives are not explicitly detailed, the emphasis on AI-driven bionic feet and composite-material innovation suggests ongoing recruitment in robotics engineering, biomechanics, and software development. Key positions likely include specialists in AI integration, sensor technology, and clinical validation to support their goal of creating adaptive prosthetics that mimic natural movement.

Growth Trajectory

Axiles Bionics’ workforce growth aligns with its commercial expansion into Belgium, Luxembourg, Spain, Germany, and recent visibility at Expo 2025 Osaka’s Belgian Pavilion. The launch of the Lunaris Essential in September 2024 underscores advancements toward scalable production, while collaborations with firms like Solico for composite engineering highlight cross-disciplinary teamwork to refine prosthetic design.

Future Outlook

New hires bolster Axiles’ capacity to innovate within human biomechanics and AI-driven mobility solutions, critical for penetrating markets like the U.S. and Asia. With a focus on sustainability—70% of mechanical components produced in Belgium—the company combines local manufacturing with global ambitions§§§. Management remains stable under CEO Pierre Cherelle since its 2019 inception; no leadership changes are reported post-EIC funding.

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Sources

• EIC : €2.5 million from the European Commission
• Axiles Bionics designs the Formula 1 of prosthetics
• Solico collaboration for Lunaris prosthesis
• Lunaris Product Line Launch (September 2024)
• Companyweb staffing data

7 The Media Features and Publications

Axiles Bionics Overview

Axiles Bionics is a Brussels-based company that specializes in developing innovative robotic ankle-foot prosthetics. Founded in 2019, the company aims to revolutionize the field of prosthetics by creating devices that mimic the musculoskeletal functions of the human ankle, offering increased comfort and natural movement for amputees.

Media Features and Publications

Axiles Bionics has gained attention in various media and publications, particularly for its pioneering work in prosthetic technology. For instance, it was featured at the Expo 2025 Osaka in the Belgian Pavilion, showcasing its innovative prosthetic feet designed to enhance mobility for amputees. Additionally, Axiles Bionics has been recognized for its contributions, such as winning an award at the prestigious IROS 2017 Conference.

The company's expertise in robotics, artificial intelligence, and human biomechanics has been highlighted in several publications, where it is referred to as creating the "Formula 1 of prosthetics". Axiles Bionics also publishes clinical studies and scientific research on its technology, further contributing to the medical and technological communities.

Podcasts and Interviews

While specific details on podcasts or interviews involving the team of Axiles Bionics are not readily available, the company's innovative approach and technological advancements make it a likely participant in industry discussions and interviews.

Conferences and Fair Visits

Axiles Bionics has been actively involved in various events, including conferences and exhibitions. One notable example is its participation in the Expo 2025 Osaka. The company also engages with various stakeholders and partners to accelerate its product development and market presence, such as collaborating with Verhaert to enhance its product lines like Lunaris.

Events and Involvement

Since receiving the EIC Accelerator funding in October 2022, Axiles Bionics has continued to expand its presence in the healthcare and technology sectors. The company is focused on launching new products, such as the Lunaris Essential and IO, which offer improved mobility and comfort for amputees. Axiles Bionics is also committed to making its bionic feet accessible to a wider audience while continuously innovating its prosthetic technology.

Sources

• Axiles Bionics
• Axiles Bionics - EU-Startups
• Axiles Bionics designs and develops the Formula 1 of prosthetics in Brussels
• Axiles Bionics Company Profile
• Axiles Bionics - CB Insights
• Publications - Clinical and Scientific Studies - Axiles Bionics
• Events & Presentations - Hyloris Pharmaceuticals
• How to make co-creation in robotic prosthetics a success • Verhaert
• Axiles Bionics Wins Award at Prestigious IROS 2017 Conference