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. Its primary objective is to foster the development of breakthrough technologies and innovative solutions that can significantly impact various sectors, particularly in deep tech. It provides funding through a combination of grants and equity investments, facilitating a pathway for companies to scale their operations and enhance their market position.

Funding Structure

The EIC Accelerator offers a unique funding structure known as blended finance, which combines grant funding with equity investments. The grant component can reach up to €2.5 million, aimed at covering early-stage development costs, such as prototyping, testing, and market entry strategies. This funding is crucial for startups and SMEs that often face significant financial barriers during the initial phases of product development.

In addition to grants, the EIC Accelerator can provide equity investments of up to €15 million until 2024. This investment is intended to support scaling efforts, allowing companies to leverage additional private sector funding and accelerate their growth trajectories. From 2025 onward, the maximum equity investment will be adjusted to €10 million. This blended approach not only reduces the financial risk for entrepreneurs but also encourages collaboration with private investors, thereby fostering a more robust startup ecosystem.

Purpose and Role in the Ecosystem

The EIC Accelerator plays a pivotal role in the European deep tech and startup ecosystem by enabling companies to bridge the gap between innovative ideas and market-ready solutions. This program is particularly vital in sectors where high capital requirements and long development cycles can deter private investment. By providing substantial funding and support, the EIC Accelerator helps startups navigate challenges, enhance their technological capabilities, and refine their business models.

Moreover, the program connects these companies with a network of investors, industry experts, and mentors, facilitating knowledge transfer and strategic partnerships. This ecosystem support enhances the prospects for successful commercialization and long-term sustainability of innovative solutions.

Case Study: Flexofibers Europa S.L. and the FlexoFibers Project

Company Overview
Flexofibers Europa S.L., based in Spain, is a pioneering company focused on sustainability in the construction industry. The company recently won the EIC Accelerator funding for its innovative project, FlexoFibers, which aims to unlock the potential of second-life steel fibers derived from tire waste.

Project Description
The FlexoFibers project is centered on the utilization of steel fibers recovered from used tires, which are typically discarded in landfills or incinerated. By repurposing these materials, Flexofibers seeks to create high-performance construction materials that contribute to a circular economy. This approach not only addresses waste management challenges but also reduces the reliance on virgin materials, promoting sustainability within the construction sector.

Technological Background
The technology behind FlexoFibers involves advanced recycling processes that extract steel fibers from tire waste while maintaining their structural integrity and performance characteristics. The recovered fibers can be incorporated into concrete and other construction materials, enhancing their durability, strength, and resistance to crack formation. This innovation aligns with the increasing demand for sustainable building practices and materials that minimize environmental impact.

The integration of recycled steel fibers into construction materials offers several benefits, including improved mechanical properties and reduced overall material costs. Additionally, this technology contributes to lowering carbon emissions associated with material production, aligning with global sustainability goals.

Funding and Impact
In October 2022, Flexofibers submitted its Step 2 proposal to the EIC Accelerator, leading to a successful Step 3 interview. The awarded funding will enable the company to scale its operations, refine its technology, and bring its innovative solutions to market. With the backing of the EIC Accelerator, Flexofibers is positioned to play a significant role in transforming waste materials into valuable resources for the construction industry, thereby contributing to a more sustainable future.

Conclusion

The EIC Accelerator program stands as a cornerstone of support for innovative companies like Flexofibers Europa S.L. By providing essential funding and resources, it empowers startups to develop groundbreaking technologies that address pressing environmental and societal challenges. The success of the FlexoFibers project exemplifies the potential of blended finance in driving innovation and sustainability in the European economy.

2 The Funding Rounds

Flexofibers Europa S.L (Spain) – Funding and Financing Overview Since EIC Accelerator Award

Summary of Financing Raised

Since submitting its successful EIC Accelerator Step 2 proposal on October 5, 2022, Flexofibers Europa S.L has been active in securing grant funding and investment to support its growth in the sustainable construction materials sector.

Funding Rounds, Timing, and Amounts

• April 2022: Flexofibers raised €800,000. The details about investors or whether this round was equity or convertible funding are not specified in the available sources.
• October 2022: The company secured a €2.5 million grant from the European Innovation Council (EIC) as part of the EIC Accelerator program. This is a non-dilutive grant aimed at supporting innovative startups with high-impact solutions.
• December 19, 2022: A Pre-Seed Round investment was closed, also attributed to the European Innovation Council. The specific amount for this pre-seed round appears aligned with the previously reported €2.5 million EIC Grant.
• Total Disclosed Funding: As of late 2023/early 2024 reporting periods, total publicized funding stands at approximately €3.3 million for Flexofibers Europa S.L.

Investor Information

The primary investor mentioned post-EIC cut-off date is:

European Innovation Council (EIC): Main funder through both a significant grant (€2.5m) and involvement in early-stage/pre-seed rounds.

No private venture capital firms or angel investors are publicly listed as participants as of May 2025.

Additional Fundraising Activities

Flexofibers has signaled intentions to raise further capital:

As per their fundraising profile statements during this period: “We are raising €6 million which approximately 70% will be allocated to expanding production capacity and 30% dedicated to business development…” This suggests ongoing efforts—likely targeting venture capital or strategic partners—but no closed subsequent rounds beyond those listed above have been publicly disclosed by May 2025.

Company Valuations

No explicit valuation figures for Flexofibers Europa S.L after any funding round have been published in public databases up until May 2025.

Exit Events: IPOs or Acquisitions

There are no records indicating an initial public offering (IPO), buyout/acquisition event, or other exit transaction involving Flexofibers Europa S.L since their receipt of EIC Accelerator funds through present day.

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Sources

• FlexoFibers company information, funding & investors - Dealroom.co
• FlexoFibers company information, funding & investors | Ukraine
• FlexoFibers company information, funding & investors | Austin ...
• FLEXOFibers | Startup Profile and Investments - Bounce Watch

3 The Press Releases

Flexofibers Europa S.L: Innovations in Sustainable Steel Fiber Technology Flexofibers Europa S.L, a Spanish startup specializing in circular steel fibers for construction, has emerged as a leader in sustainable material innovation. Since its EIC Accelerator funding (submitted October 2022), the company has advanced its mission to repurpose steel from end-of-life tires into high-performance concrete reinforcements.

Key Developments and Milestones

• Product Certification: In May 2024, Flexofibers obtained the ETA 23/0933 certification for its recycled steel fibers (FX-20 and FX-25), validating their compliance with European standards for reinforcing mortars and concrete. The evaluation confirmed superior tensile strength (~2,500 MPa) and workability enhancements.
• Awards: Recognized as Castilla-La Mancha’s "most innovative startup" at the March 2023 EmprendeXXI Awards, Flexofibers secured €6,000 and access to an international training program by Esade and Silicon Valley experts.
• Sustainability Impact: Their patented process reduces carbon footprints by 20x compared to conventional steel fibers, leveraging cold-drawn filaments from tire recycling plants.

Technology Advancements

Flexofibers’ products are characterized by:

• Slenderness: Fibers measure ~0.2 mm diameter with lengths of 22–26 mm, offering 3–4x more filaments per weight unit than standard alternatives.
• Circularity: Directly sourcing materials from tire waste streams minimizes raw-material extraction risks.

While specific details about their EIC Accelerator-funded projects remain undisclosed publicly, recent certifications suggest focused efforts on scaling production and meeting EU construction safety standards (e.g., ASTM C 1399).

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Sources
News - Flexofibers | Second life steel fibers for concrete - Flexofibers | ETA Certification Announcement

4 The Technology Advancements

Current Capabilities and Advancements of Flexofibers Europa S.L

Flexofibers Europa S.L, a Spanish company, has been pioneering in the production of second-life steel fibers from end-of-life tires for use in fiber-reinforced concrete (FRC). Since receiving the EIC Accelerator funding on October 5, 2022, the company has made significant strides in technological innovation and market demonstration.

Current Capabilities

• Product Line: Flexofibers offers high-quality steel fibers, including FLEXOFIBER® FX-20 and FX-25, which are obtained from recycled tires. These fibers are known for their high tensile strength, flexibility, and reduced diameter, allowing for more filaments per unit weight compared to conventional metal fibers.
• Certifications: The company has obtained the ETA 23/0933 certification for its steel fibers, which are used for reinforcing mortars and concrete. This certification evaluates the tensile strength performance and size distribution of the fibers, as well as their effect on concrete workability and resistance.
• Sustainability: Flexofibers' production process promotes a circular economy by transforming waste into valuable materials, reducing the carbon footprint associated with traditional steel fiber production by up to 20 times.

Advancements Since EIC Accelerator Funding

• Funding Allocation: While specific details on the allocation of the EIC funding are not provided, Flexofibers has generally been focused on expanding production capacity and business development. The company has also been raising additional capital, with plans to allocate approximately 70% to production expansion and 30% to business development.
• Innovation Awards: Flexofibers was recognized as the most innovative startup in Castilla-La Mancha at the EmprendeXXI Awards in March 2023. This recognition highlights the company's impact on societal challenges through innovative waste management and material recycling.

Technology Improvements and Market Demonstration

• Technological Improvements: Flexofibers has developed a cutting-edge technology for extracting and processing steel fibers from end-of-life tires. The company's focus on high-quality, flexible fibers enhances the durability and sustainability of concrete products.
• Market Demonstration: While specific pilot projects or customer implementations since the EIC funding are not detailed, Flexofibers' products are designed to improve the resistance, abrasion, and breakage of concrete, which suggests ongoing market engagement and demonstration through the use of their innovative materials.

New Patents, Scientific Studies, or Whitepapers

There is no publicly available information on new patents filed, scientific studies published, or whitepapers released by Flexofibers since receiving the EIC Accelerator funding. However, the company continues to innovate in the field of sustainable construction materials.

Conclusion

Flexofibers Europa S.L has positioned itself as a leader in sustainable construction materials by leveraging end-of-life tire recycling to produce high-quality steel fibers. The company's advancements in technology and market recognition underscore its commitment to innovative and environmentally responsible practices.

Sources:

• Flexofibers
• FlexoFibers Company Information
• CORDIS: Unlocking the Potential of Second-Life Steel Fibers
• Flexofibers Europa SL Obtains ETA Certification
• Flexofibers News
• FlexoFibers Company Information on Dealroom

5 The Partnerships and Customers

Flexofibers Europa S.L., an EIC Accelerator winner (October 2022 cut-off), specializes in repurposing steel fibers from end-of-life tires for fiber-reinforced concrete, emphasizing circular economy principles and low-carbon solutions. While specific customer names remain undisclosed in available records, the company’s partnerships and market positioning can be inferred from its EIC Accelerator participation and project scope.

Key Relationships and Market Positioning

• EIC Accelerator Collaboration: Securing blended finance through the EIC Accelerator (Step 3 interview approval) enhances Flexofibers’ capacity to scale production and refine its recycling technology.
• EU-Funded Initiatives: The company aligns with pan-European projects like SMILE CITY (Horizon Europe), which integrates recycled materials into urban infrastructure, though direct involvement is not explicitly stated.
• Industry Applications: Flexofibers targets sectors requiring high-performance concrete, including tunnel linings, industrial flooring, and precast elements, suggesting partnerships with construction firms specializing in these niches.

Technological Advancements and Scaling

The EIC funding supports:

• Process Optimization: Scaling proprietary methods to extract steel fibers efficiently from tire waste while maintaining ASTM standards for safety and performance.
• Market Expansion: Reducing reliance on virgin materials by positioning their product as a cost-effective alternative with a carbon footprint 20x smaller than conventional fibers.

Strategic Impact of New Partnerships

While explicit new customers/partners post-EIC win are not publicized:

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Sources

• EIC Accelerator winners October 2022 [Flexofibers entry]
• Flexofibers: Second life steel fibers [Technology overview]
• SMILE CITY Project [Circular economy initiatives]
• F6S Construction Companies in Spain [Industry context]
• CORDIS project details - Tire recycling innovation                                                                                                                                                                                                                                                                                                                                                                                                 ≡≡≡≡≡

6 The Hiring and Company Growth

Flexofibers Europa S.L: Growth and Development Since EIC Accelerator Funding

Flexofibers Europa S.L, a pioneering company in Spain, received EIC Accelerator funding on October 5, 2022. Since then, the company has focused on innovative technologies to recover steel fibers from end-of-life tires for use in fiber-reinforced concrete (FRC), promoting sustainability in construction.

Current Headcount and Team Size

As of March 2025, Flexofibers has a team size of 2-10 employees. This small but agile team is indicative of the company's initial growth phase, focusing on innovation and efficiency in production processes.

Hiring and Team Growth

Flexofibers is currently engaged in fundraising activities, aiming to raise €6 million in a Series A round, which closed on March 28, 2025. While there is no specific information about ongoing hiring processes, the company's growth strategy likely involves expanding its team to support increased production and market expansion.

Key Positions Recently Hired

There is no detailed information available on specific key positions recently hired by Flexofibers. However, as the company grows, it likely needs to fill roles in research and development, production management, and marketing to support its innovative products.

Impact of New Team Members

New team members will play a crucial role in helping Flexofibers scale and grow by enhancing the company's capacity to develop and market its sustainable steel fibers. This expansion will enable Flexofibers to increase its market presence and contribute more significantly to sustainable construction practices.

Major Changes in Management or Founding Team

There are no reported major changes in management or the founding team since Flexofibers received the EIC Accelerator funding. The company continues to focus on its core mission of transforming waste into valuable materials for construction.

Growth and Future Prospects

Flexofibers' growth is marked by its commitment to sustainability and innovation. With a low carbon footprint and a competitive edge in the market, the company is poised to make significant impacts in the construction industry. The ETA certification obtained by Flexofibers Europa S.L for its steel fibers further underscores its commitment to quality and innovation.

Sources

• Flexofibers
• FlexoFibers Europa SL has obtained the ETA 23/0933 for its steel fibers
• Flexofibers company information, funding & investors
• Proptech in Madrid list

7 The Media Features and Publications

Overview of Flexofibers Europa S.L

Flexofibers Europa S.L. is a Spanish company known for its innovative approach to recycling steel fibers from end-of-life tires (ELT) for use in fiber-reinforced concrete. This pioneering technology aims to reduce carbon emissions and promote sustainability in the construction industry.

Media Features and Publications

Flexofibers has been featured in various media outlets and publications, primarily due to its recognition as the most innovative startup in Castilla-La Mancha at the EmprendeXXI Awards in March 2023. This award highlights the company's contribution to sustainable practices and technological advancement in the construction sector.

Content from Publications

Publications such as Europapress and Cuadernos Manchegos have covered Flexofibers' achievements, focusing on its innovative recycling process and the potential impact on the construction industry's environmental footprint. The company's technology not only reduces waste but also provides a low-carbon alternative to conventional steel fibers, making it a competitive choice in the market.

Podcasts and Interviews

Currently, there is no publicly available information on specific podcasts or interviews featuring the team from Flexofibers Europa S.L.

Conference and Fair Visits

There is limited information available on Flexofibers' participation in conferences or fairs. However, the company's involvement in European projects such as the Horizon 2020 framework suggests potential participation in related events focused on sustainable materials and circular economy practices.

Event Involvement

Flexofibers' engagement in the EmprendeXXI Awards demonstrates its involvement in events promoting innovation and entrepreneurship. Additionally, the company's participation in projects like SMILE CITY highlights its role in advocating for circular economy solutions in urban development.

EIC Accelerator Funding

Flexofibers Europa S.L. was awarded the EIC Accelerator funding in October 2022, which supports innovative technologies and startups across Europe. This funding recognizes Flexofibers' potential to revolutionize the construction industry through sustainable practices.

Sources

• News - Flexofibers
• Second life steel fibers for concrete - Flexofibers
• FLEXOFibers | EU-Startups
• Unlocking the potential of second life steel fibers from tire waste for the construction industry
• FlexoFibers company information, funding & investors
• FlexoFibers Europa SL has obtained the ETA 23/0933 for its steel fibers
• Sustainable Materials for Innovative, Low Emissions applications in Construction